The silicone additives market is estimated to be USD 1.20 Billion in 2017 and is projected to reach USD 1.70 Billion by 2022, at a CAGR of 7.2% during the forecast period. This growth can be attributed to the increased demand for silicone additives in the plastics & composites application. In addition, the demand for high-quality coating products in emerging economies is another significant factor contributing to the growth of the silicone additives market.
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Expansions and acquisitions were key growth strategies adopted by leading industry players between 2013 and 2017 to strengthen their foothold in the silicone additives market. Both these strategies collaboratively accounted for a share of 50.0% of all growth strategies adopted by leading industry players. In addition, key players are also focused on the adoption of new product launches as their primary growth strategy. Companies operating in this market have adopted the strategy of partnerships to enhance their product portfolios. The strategy of partnerships accounted for a share of 10.0% of all growth strategies adopted by leading players between 2013 and 2017.
The strategy of new product launches was the most adopted strategy by companies in the Asia Pacific and European regions. Dow Corning (US), Evonik (Germany), Shin-Etsu (Japan), Momentive Performance Materials (US), and BYK Additives (Germany) are focused on expanding their customer base in various regions worldwide. These companies have adopted organic and inorganic growth strategies, such as expansions, mergers & acquisitions, and new product launches, to enhance their market positions.
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Dow Corning is a global manufacturer of silicone products. It is a leading company involved in silicon-based technology, offering more than 7,000 products. The company produces biocompatible silicone materials for the healthcare industry. These materials are used in surgical attachments and for component bonding & lubrication. The company emphasizes on undergoing R&D activities and launching new products to broaden its product portfolio and strengthen its presence in the silicone additives market. For instance, in 2017, the company introduced Dow Corning 904H Coating Additive for architectural facade coatings to enhance the aesthetics of building exteriors. This development strategy helped the company address the increasing demand for visually appealing, bright colored facades for buildings.
Momentive Performance Materials operates through 2 major business segments, namely, silicones and quartz. The company manufactures silicones and their derivative products. It is involved in the distribution of silanes, specialty silicones, and urethane additives. The company has well-recognized brands of silicone additives; it has a strong operational network in the US. The company focuses on the adoption of organic growth strategies such as new product launches to address the rising demand for silicone additives. For instance, in 2016, the company launched CoatOSil DRI waterborne silicone that is used as an additive in various plastics & coatings applications.
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