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Silicone Resins are relatively low molecular weight polymeric compounds with a 3-D branched structure. These resins offer superior thermal stability and can be made hydrophobic as well. Silicone Resins can be of varied types depending on the function groups present in the siloxane chain of the resin. Methyl Silicone Resins, as the name suggests has the presence of a methyl group, offers superior water repellency, release properties and surface hardness as compared to other traditional resins. Owing to its excellent thermal resistant properties, methyl silicone resins are significantly used in paints & coatings and adhesives to improve the overall performance of the compounded products.
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Methyl Silicone Resins Market: Dynamics
Methyl silicone resins have a variety of applications in different end-use industries. However, the methyl silicone resins market is driven by its use in coating applications that include, automotive coating and interior floor coating. The demand for Methyl silicone resins (hydrophobic) for automotive body coatings have increased in the recent years and is expected to experience healthy growth over the forecast growth as well. Methyl silicone resins based coatings not only offers excellent water repellency but also superior thermal stability due to weathering. Methyl Silicone resins are used in the applications requiring high temperature compatibility and resistance to UV-radiation. The surge in demand of Methyl Silicone Resins for industrial applications has been observed in the recent times and expected to increase over the short term forecast. Industrial applications mostly include anti corrosion coatings in smoke stacks, industrial kilns and combustion chambers. Some of the automobile manufacturers also use it to coat the car exhaust as well. Some grades of methyl silicone resins is also used in surface treatment such as silicone based pressure sensitive adhesives and epoxy adhesive surface. Its use in construction industry is restricted to sealant purposes but the demand is expected to remain stable over the forecast years due to the presence of other alternatives for the sealant applications in the construction industry. The methyl silicone resins have significant demand from the cookware manufacturers for its superior stability to temperature. The electrical & electronics applications of methyl silicone resins include resistor coating, surface damp proofing and others.
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The methyl silicone resins market has observed slow growth in the last few years due to the slowdown of the automotive industry. However, the demand is expected to increase in the upcoming years with the increasing adoption of methyl silicone resins by various end-use industries. Automotive industry is also expected to report healthy consumption of methyl silicone resins with the introduction of electric vehicles across the world. The fluctuating crude-oil prices and ongoing trade wars between the global economies are the major restraints to the methyl silicone resins market.
The Asia Region is the largest consumer of Methyl Silicone Resins with China being the major consumer. The demand in the region is further expected to increase due to surge in developments activities in countries like India. Europe accounts to around one- fifth of the market share and is the second largest consumer of Methyl Silicone Resins followed by North America. The Market in these regions is fairly matured and is expected to experience slow growth. The political instability in Latin America has negatively affected the market growth in the region. However, the demand over the forecast period is expected to restore, with the transition towards stability in the region. The Middle East & Africa region accounts smallest share in the Methyl Silicone Resins Market and most of the consumption in the region is in the form of heat resistant & anti-corrosion applications of the resin.
Methyl Silicone Resins: Key Players
The Methyl Silicone Resins Market is fairly consolidated with top 10 manufacturers holding the major share in the market. Some of the global players include, Dow Chemical Company, Evonik, Wacker Chemie AG, Elkem (a Bluestar Company), Momentive, Siltech Corporation, SiSiB SILICONES (PCC Group), Jiang Xi Xin Jia Yi New Materials Co., Ltd., Iota Silicone Oil (Anhui) Co., Ltd, Hubei Jia Yun chemical technology CO., LTD, Genesee Polymers Corporation, Hubei Xinsihai Chemical Engineering Co., Ltd. and others.
The research report presents a comprehensive assessment of the Methyl Silicone Resins market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Methyl Silicone Resins market report provides analysis and information, according to market segments such as geographies, application, and industry.
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