Silicone additives market size would grow considerably over 2022-2028, driven by the growing product demand across diverse applications across various sectors including paints and coatings, automotive, food and beverages, and pulp and paper industries.
Silicone additives support reduction in the surface tension of the liquid coatings, owing to which these are used prominently in paints and coatings products. Across these products, silicone additives cure surface deformities like cracking and poor wetting, whilst simultaneously improving the surface scratch resistance properties.
The industry’s robust growth can also be attributed to its high popularity for imparting special properties to coatings and inks like mar resistance, improved slip, foam control, and leveling. In addition, since silicones are highly effective at low concentrations, they are expansively used to optimize both processes and product properties.
Ongoing research and developments in the field are expected to expand the future scope of silicone additives market in the coming years. For instance, researchers in the medical field in Zurich developed bioinspired artificial heart valves made of silicone additive manufacturing.
However, the increased cost of raw materials and complexities associated with the production process acts as a challenging factor for the growth of the overall silicone additives market. Nonetheless, expanding applicability in various end-user verticals, including the cosmetics and personal care segment, would enhance the market revenue sales through 2028.
In personal care and cosmetics industry, silicone additives are used in shampoos, conditioners, foundations, creams, and several other beauty products. They are known to repair signs of damage, fills cracks and crevices in the hair’s surfaces, and offer longevity to most makeup products. Silicone additives are critical in many foundation formulations to give them more spreadability and comfortable feel on the skin. They also increase water resistance in a formula, making them highly useful for sun-protection products and powder. These factors are estimated to have a positive outlook on the overall silicone additives market through the coming years. Some of the widely used silicone additives in cosmetic and personal care products are dimethicones, cyclomethicone, and dimethiconol.
Based on the product type, dimethicone segment would account for significant growth in the overall silicone additives market during the analysis period. This can be credited to the compound’s inherent use in skincare and personal care products. Dimethicone in the former application, is used to form a protective layer along the skin while enhancing the water retention. Moreover, most makeup primers are instilled with this ingredient because the silicone-based polymer molecules are relatively large to be absorbed by the skin. As per CIR and U.S FDA, dimethicone is considered to be a safe skincare ingredient that soothes irritation, offers protection against the skin from further damage, and reduced redness.
Geographically, Europe is poised to emerge as a hotspot for silicone additives industry over the forecast period subject to the rising demand from automotive, electronic, paints and coatings, aerospace, and cosmetics industries in the region. Nations like Germany, the UK, France, and others are experiencing significant expansion of these sectors, impelling the need for silicone additives. Besides, growing aging and working population, especially women, in these counties would further stimulate the growth curve of silicone additives market dynamics across Europe.
The global silicone additives industry is highly consolidated and boasts of the presence of leading solution providers like BYK Additives (ALTANA Chemie GmbH), Dow Corning (Dow, Dow Global Technologies Inc, Dow Holdings LLC), Evonik Industries, KCC Corporation, Momentive Performance Materials (MPM Intermediate Holdings Inc.), and others. These leaders are engaged in different tactics to gain a competitive edge in the overall marketplace.
In 2021, BYK introduced two new additives- BYK-329 and BYK-092, for its different clients. One of its newly launched additives, BYK-329, is a silicone surface additive for both solvent-borne and solvent-free systems that support reduction in surface tension, particularly in general industrial coatings and floor coatings.
In another instance, Enovik introduced the silicon-carbon composite material- Siridion Black- as a new anode material for li-ion batteries.
While various industries and business were brought to standstill during 2020. The cosmetics and beauty industry was also one amongst the severely affected sectors worldwide. Factors like decline in product sales, halt in production facilities, movement restrictions, and more, are reasoned for the sluggish growth of the cosmetics industry. With silicone additive being an integral ingredient in the beauty industry, will thus have a negative impact on the global silicone additives market, owing to COVID-19 pandemic outbreak.