Product Code: 61130
The silicate coatings market is expected to grow at a significant rate, during the forecast, at an estimated CAGR of around 5%, majorly driven by stringent environmental regulations to control VOC emissions. Silicate coatings are based on the combination of quartz (SiO2) and carbonate to produce a silicate (SiO2/Na2O).
- Lithium, sodium or potassium carbonate can be used for certain grades, by hydrothermally dissolving a reactive silica source (mainly silica sand) in the respective hydroxide, which is then combined with lightfast inorganic pigments.
- However, the presence of substitute products is likely to hinder the markets growth.
Key Market Trends
Increasing Demand from Residential Construction
- The increasing middle-class population, coupled with their increasing disposable income, has facilitated the expansion in the middle-class housing segment, thereby, driving the residential construction across the world.
- Asia-Pacific region is expected to witness the highest growth in terms of new residential construction projects, due to the expanding housing construction market in developing countries like China, India and ASEAN Countries.
- In India, the government-initiated project named 'Housing for All by 2022', is expected to immensely drive the residential construction segment in the country, throughout the forecast period.
- The governments in several European countries have also supported to fulfill the supply-demand gap, for housing. For instance, to reduce the United Kingdom's housing supply crisis, the Manchester city council has collaborated with other developers to build 500 sites, through individual development programs across Greater Manchester and Liverpool.
- All the above factors are expected to propel the growth in the residential sector, which in return, is expected to grow the silicate coatings market, as they are highly stable and durable coatings, with particularly convincing long-lasting color and natural effect.
Asia-Pacific to Dominate the Market Growth
- The Asia-Pacific region dominated the global market share. Factors, such as growing construction activities and preference for low maintenance building products, are favoring the market growth.
- India is the fastest growing construction markets in the Asia-Pacific region. The construction sector in India has been growing rapidly, with an increased investment by the government.
- The country is likely to witness an investment of around USD 1.3 trillion in housing over the next seven years, where the country is likely to witness the construction of 60 million new homes. The availability of affordable housing is expected to rise around 70%, by 2024, in India.
- The increasing investments in the residential and commercial sectors, along with strategic initiatives by the Indian government, are expected to boost the construction sector in the country, which, in turn, is anticipated to drive the silicate coatings market in India.
- Moreover, the growing interest of the companies, in exploring the rural markets in the region, has further aided the growth of the sector. The Government of India encourages foreign investment in the automobile sector and allows 100% FDI under the automatic route.
- Hence, with the rapid growth expected in the construction and automotive industries, demand for silicate coatings in the region is expected to rapidly increase over the forecast period.
The market for silicate coatings is fragmented in nature. The major players in the market include BEECK'sche Farbwerke GmbH, KEIM Mineral Coatings of America, Inc., Breathe Silicate Hybrid Paint, Remmers (UK) Limited, and Wacker Chemie AG, among others.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Stringent Environmental Regulations to Control VOC Emissions
- 4.1.2 Increasing Demand for Building and Construction
- 4.2 Restraints
- 4.2.1 Presence of Substitute Products
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Pure Silicate Paints
- 5.1.2 Dispersion Silicate Paints
- 5.1.3 Sol-silicate Paints
- 5.2 End-user Industry
- 5.2.1 Construction
- 220.127.116.11 Residential
- 18.104.22.168 Commercial
- 5.2.2 Transportation
- 5.2.3 Industrial
- 5.2.4 Other End-user Industries
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 22.214.171.124 China
- 126.96.36.199 India
- 188.8.131.52 Japan
- 184.108.40.206 South Korea
- 220.127.116.11 ASEAN Countries
- 18.104.22.168 Rest of Asia-Pacific
- 5.3.2 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 188.8.131.52 Mexico
- 5.3.3 Europe
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 Italy
- 22.214.171.124 France
- 126.96.36.199 Rest of Europe
- 5.3.4 South America
- 188.8.131.52 Brazil
- 184.108.40.206 Argentina
- 220.127.116.11 Rest of South America
- 5.3.5 Middle East & Africa
- 18.104.22.168 Saudi Arabia
- 22.214.171.124 South Africa
- 126.96.36.199 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 ASE Group
- 6.4.2 Asian Paints Ltd.
- 6.4.3 BEECK'sche Farbwerke GmbH
- 6.4.4 Breathe Silicate Hybrid Paint
- 6.4.5 Cabot Corporation
- 6.4.6 Dow
- 6.4.7 KEIM Mineral Coatings of America, Inc.
- 6.4.8 Madhu Silica Pvt. Ltd.
- 6.4.9 Nouryon
- 6.4.10 PPG Industries, Inc.
- 6.4.11 Remmers (UK) Limited
- 6.4.12 Silacote USA LLC
- 6.4.13 The Sherwin-Williams Company
- 6.4.14 Wacker Chemie AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS