Silicate Coatings Market Size Forecast to Reach $1.2 Billion by 2026

Silicate Coatings Market Size Forecast to Reach $1.2 Billion by 2026
Silicate Coatings Market
Growing Building and Construction Sector in the Middle East Region Is Driving the Silicate Coatings Market Growth

Silicate Coatings Market size is forecast to reach $1.2 billion by 2026, after growing at a CAGR of 4.5% during 2021-2026. Silicate coatings are alkali metal silicates that consists of Sodium pyrosilicate and Trimethylsilyl chloride and are produced from naturally occurring materials like sand and alkali. Silicate coatings are non-flammable, highly durable, and have excellent weather ability properties. Due to these properties, they are widely used in plasma polymerization, high temperature and weather condition applications. Increased usage of silicate coating as a corrosion preventer for applications like gas pipelines and cargo tanks is driving the market’s growth. Furthermore, increasing focus on preserving historical structures is also contributing to the growth of the Silicate Coatings share globally.

Emergence of COVID 19

COVID-19 is hindering the growth of Silicate Coatings market, as the construction, paint and coatings, automotive, and aviation industry are facing slow growth. As silicate coating is widely used in these industry applications. The worldwide travel restriction, lack of workforce, and disruptions of the supply chain are further acts as challenging factors to the market growth.

Silicate Coatings Market Segment Analysis – By Type

Pure Silicate Coating held the largest share of more than 35% in Silicate Coating Market in 2020. Pure silicate mineral coating bound only with mineral binding agents and formed by mixing potash water glass, potassium silicate (K2SiO3xH2O) with lime, quartz-based fillers, and mineral pigments. The Pure silicate coating consists of two components, a color powder in dry or paste form and the liquid binder water glass. The pure silicate coating is considered extremely durable, has antifungal properties, weather-resistant, and provides a protective layer against exhaust gases and fumes. Moreover, the pure silicate paint remains intact with the substrate and protects it for decades. Due to which they are widely used in building especially architectural buildings. Therefore, the above properties provided by pure silicate coating and the growing adoption of the plasma polymerization process further drive the market’s growth.

Silicate Coatings Market Segment Analysis – By Binding Agent

Inorganic segment held the largest share of more than 55% in the Silicate Coatings market in 2020. Inorganic binders such as Sodium pyrosilicate, Trimethylsilyl chloride, and potassium silicates in aqueous solutions have physical and chemical properties that are useful in bonding and coating applications. Potassium silicates in Silicate coating makes them highly durable and solvent in water. Due to their properties, silicate coatings provide an excellent decorative and protective coating for buildings & metal surfaces. Furthermore, these binders make coating non-toxic, resistant to heat, and non-flammable. The inorganic binder enables light rays to directly, meet the pigment particles, and reflect from there, which causes the coatings to actually shine. Due to the above properties, inorganic binding agents are widely used in the silicate coating market.

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Silicate Coatings Market Segment Analysis – By End-Use Industry

Building & Construction segment held the largest share of more than 30% in the Silicate Coatings market in 2020. Silicate Coating is widely used in building and construction industries for reducing the condensation of water on building surfaces, which reduces the risk of infestation of algae and fungi. Moreover, the silicate coating also protects the building from acid rain, which is a rising concern due to an increase in air pollution. Furthermore, the silicate coating has excellent heat resistance properties and roof cooling ability, which increases the longevity of the structure and reduces the energy cost to maintain the building temperature. The rise in the construction and building industry due to the increase in the middle-class population and urbanization is driving the demand for Silica Coating Market. As per the International Finance Corporation report in 2019, the global construction of the industry is projected to grow by 4.2% from 2018 to 2023. Such growth in the construction industry will further drive the demand Silicate Coating Market.

Silicate Coatings Market Segment Analysis – By Geography

APAC held the largest share in the global Silicate Coating Market of more than 40% in 2020. The rising demand for construction, automobile, and rapid industrialization is driving the demand for silicate coating in the region. The growth of industries can be attributed to rising disposable income, growing foreign investments, growing demand for plasma polymerization, and favorable conditions for manufacturing units such as the availability of a huge workforce, less regulation, and a huge consumer base. All the above factors are driving the demand for construction and manufacturing units, which in turn is driving the demand for Silicate coating. As silicate coating is used in industries to protect their machine and equipment from a chemical spill, constant wear, corrosion, and heat. Therefore, a rise in manufacturing industries will further drive the growth of the market. For instance, as per the Indian Brand Equity Foundation (IBEF) report in 2020, the manufacturing industry was valued at $ 395.56 billion in 2019 and is estimated to be $ 397.14 billion in 2020.

Silicate Coatings Market Drivers

Eco-friendly nature of Silicate Coating is Driving the Markets Growth

Silicates are the ultimate eco-friendly coatings, as they do not contain any harmful Volatile organic compounds (VOCs). Silicate coatings are alkali metal silicates that are produced from natural elements like sand and alkali. Silicate coating is purely water-borne and is solvent-free, which enable them to be more eco-friendly and emit less VOC than other coatings, which are solvent-borne. Moreover, Sodium pyrosilicate, and Trimethylsilyl chloride based coatings are less toxic, odorless, and have no VOC, which makes them the perfect choice for interior coating especially in a residential building or architectural building. Furthermore, growing awareness regarding the adverse effect of VOC will drive contractors or people to use silicate coating which offers similar properties but has no VOC content and less toxic. This will further drive the growth of the market.

Growing Building and Construction Sector in the Middle East Region Is Driving the Market Growth

One of the major factors that is driving the Silicate Coatings Market is the growth of the construction industry in the Middle East region, especially in the United Arab Emirates (UAE), Qatar, and Saudi Arabia. Silicate Coating is used as a decorative coating in the building to enhance the look of the interiors. Moreover, the Middle East is a hot and dry region, where silicate coatings are widely used in the exterior and roof of the building to reflect heat and cool the internal temperature. Furthermore, the growing demand for green buildings to conserve energy is also driving the demand for silicate coatings. Therefore, an increase in building & construction activities will further drive the silicate coating in the region. For instance, as per BNC Network a private company, UAE invested a total of $53.8 billion in the construction industry in 2019, which rose by $1.2 billion in 2020 to reach $55 billion.

Silicate Coatings Market Challenges

Absorbs Water & Compatibility Issues with PrimersOne of the issues with silicate, coatings are that it retains water which can impact the integrity of the concrete surface in the long term and compromises the building structure. To overcome this, an additional water repellent coating must be coated on the concrete surface, which further increases the overall cost. The other issue with silicate coating is it’s not compatible with tiefgrund. Tiefgrund is an interior and exterior-based solvent-free primer, formulated for firming the sandy and interior & exterior mineral bases. Therefore, the above issues act as challenging factors to the growth of the silicate coating market.

Silicate Coatings Market Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Silicate Coatings market report. Major players in the Silicate Coatings Market are Teknos Group, BEECK’sche Farbwerke GmbH, ASE Group., Roxsil Silicone Sdn. Bhd., Hempel A/S, Jotun A/S, PPG Industries Inc., Asian Paints Ltd., Silacote USA LLC, KEIMFARBEN GMBH, Remmers Gruppe AG, Nouryon Chemicals Holding B.V., and among others.

Acquisitions/Technology Launches

In May 2020, Nouryon Chemicals Holding B.V., launched a new Levasil® colloidal silica solution, for the building and construction market that boosts the effectiveness of energy-saving by improving the ability to reflect light and enhance self-cleaning properties. With this new launch, the Nouryon expanded its product offering for building & construction industry, which will further drive the market’s growth.

Key Takeaways

North America region witness significant growth in the Silicate Coatings market during the forecast period. The USA held the largest share in the market in 2020.

Urbanization, huge infrastructure developments, and growing population coupled with increasing disposable income are the major factors driving the growth of the coatings industry, which in turn propels this market growth.

High price of Silicate Coatings and plasma polymerization process is one of the factors that’s hindering the market’s growth.

Stringent environmental regulations to control VOC emissions is a key factor affecting the market growth.

COVID-19 will hinder the growth of the market, as the end-use industry is facing slow growth, hence reducing the demand for Silicate Coatings. 

Relevant Reports

A. Sodium Silicate Market

https://www.industryarc.com/Research/Sodium-Silicate-Market-Research-500186

B. Decorative Coating Market

https://www.industryarc.com/Report/11716/decorative-coating-market.html

For more Chemicals and Materials Market reports, please click here

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