The global silicone resins market revenue was around US$ 0.93 billion in 2022 and is estimated to reach US$ 1.5 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.4% during the forecast period from 2023 to 2031.

Silicone resins are formed of highly crosslinked networks with high silicon-oxygen bond energy, making them durable in harsh environments. These resins are applicable as protective coatings for a sort of environment because of their thermal and UV resistance. Silicone resins supply a variety of benefits, such as resistance to temperature and good functioning, heat, weather, and chemicals. Their exceptional thermal stability makes them suitable for use in paints, varnishes, and other impregnating substances. Also, they are utilized as release force boosters in release coatings, as water repellents in construction and building, and also, as a bonding supporter in sticking and sealing.

Factors Influencing Market Growth

- The increased demand from the electrical, automobile, and electronics industries is primarily pushing the demand for the silicone resin market.

- The growing usage of silicone resins in the industrial sector, and also, the building and construction in growing countries, forces the development of the silicone resins market.

- The inflexible regulations concerning volatile organic compounds (VOCs) emissions are restricting the growth of the silicone resin market.

- The various silicone resin market players give a sizeable portion of their budgets to research and development. And with these moves, players are focusing on the invention of high-quality products. Also, businesses are becoming interested in extending into new regions. All these factors led to the lucrative possibilities for the growth of the market for silicone resins in the coming years.

Impact of COVID-19

The impact of COVID-19 pandemic had a negative influence on the silicone resins market because the major consumers of silicone elastomers like building, construction, and automobile sectors faced the negative impact during the pandemic which led to the low demand for silicone elastomers.

Also, the need for electronics and electrical products expanded as most of the companies adopted work from home working culture. The boosted demand for electronics and electrical products during the COVID-19 pandemic boosted the demand for the silicone resins market.

Regional Analysis

In 2022, the Asia-Pacific region dominated the silicone resins market revenue. Due to its quick industrialization, expanded construction industry, advanced auto manufacturing, and expanded electronics and electrical sectors, which are important consumers of silicone resin.

Leading Companies

The leading prominent companies profiled in the global silicone resins market are: -

- BRB International
- Dow Inc.
- Elkay Chemicals Private Limited
- Elkem ASA
- Evonik Industries AG
- Genesee Polymers Corporation
- Kaneka Corporation
- Momentive
- Primasil Silicones Ltd
- Savitri Chemicals
- Shin-Etsu Chemical Co., Ltd.
- Siltech Corporation
- Sinicon Plastics Inc
- Supreme Silicones India Pvt. Ltd.
- Wacker Chemie AG Adhis S.A.S
- Bluestar Silicones
- Alchemie Ltd
- Other prominent key players

Segmentation Outline

The global silicone resins market segmentation focuses on Type, End-Use Industry, and Region.

Segmentation based on Type

- Methyl Silicone Resins
- Methyl phenyl Silicone Resins
- Others

Segmentation based on End-Use Industry

- Automobile
- Building and Construction
- Electrical and Electronics
- Paints and Coatings
- Adhesives and Sealants
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa