The market for polysiloxane coatings is expected to register a CAGR of around 6% during the forecast period. Major factors driving the market studied are the increasing construction activities in emerging economies.
- The use of Nanotechnology in Polysiloxane Coatings is likely to act as an opportunity during the forecast period.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.
Key Market Trends
Increasing Consumption in Infrastructure
- Rail, roads, bridges, public parks, etc., are all subjected to continuous extreme conditions. Polysiloxane coatings provide corrosion protection, high-temperature protection, and fire protection to ensure the durability and aesthetics of the building structures.
- In railways, mild steel remains the first choice of metal for constructional purposes, due to its relatively low cost, mechanical strength, and ease of fabrication. The main drawback of the use of this metal is that it corrodes easily in extreme weather conditions. Unless adequately protected it rapidly loses strength, which may result in structural failure. Thus, polysiloxane coatings (which have anti-corrosive properties) are applied to the exterior of the rails.
- Such positive factors are expected to drive the market for polysiloxane coatings in the infrastructure sector during the forecast period.
Asia-Pacific to Dominate the Market
- The Asia-Pacific region dominated the global market share. China is one of the major countries in Asia-Pacific, with ample construction activities, supported by the growing economy. China’s 13th Five Year Plan started in 2016 as it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition to this, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country.
- In India, the infrastructure sector plays a vital role in the growth and development of the Country's economy.
- Investments through the private sector are expected to show moderate-to-high growth, owing to factors, such as diminishing overcapacity in some sectors, increasing stability in infrastructure projects, corporate deleveraging, cleaning of loan portfolios by banks, and implementation of the Goods & Services Tax (GST).
- The government is taking various steps to restructure corporate taxes and make it more appealing to foreign investors. The move is anticipated to boost investments in health, education, housing, transport, and water infrastructure sectors.
- Investments of USD 31,650 billion has been proposed by 99 cities under their smart cities plan. 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion in the next 5 years.
- Therefore with the increasing demand from various countries in the region, the market for polysiloxane coatings is projected to grow, over the forecast period.
The polysiloxane coatings market is partially fragmented in nature. some of the major players are Akzo Nobel N.V., Axalta Coating Systems, LLC, Jotun, PPG Industries, Inc., and The Sherwin-Williams Company, among others.
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