Saudi Arabia Silicone Additives Market, By Function (Defoamers, Wetting & Dispersing Agents, Rheology Modifiers, Surfactants, Lubricating Agents, Others); By Application (Plastics & Composites, Paintings & Coating, Paper & Pulp, Personal & Healthcare, Food & Beverages, Chemical Manufacturing and Oil & Gas, Agriculture, Construction, Textile), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Saudi Arabia Silicone Additives Market Size Set to Grow Steadily at CAGR of 6.3% During 2023–2029
Saudi Arabia silicone additives market is gaining traction because of the increasing demand for silicone additives in the automobile industry and paints segment and changing consumption patterns coupled with rising demand for cosmetics across the kingdom.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the Saudi Arabia silicone additives market size to grow at a steady CAGR of 6.3% during the forecast period between 2023 and 2029. The increasing demand for paints and coatings as a result of the Saudi Arabia’s expanding construction and automobile industries are two major development factors for the lucrative market growth for silicone additives in the country. Due to Saudi Arabia's large investments in economic diversification, more buildings are being built for commercial and industrial uses. Saudi Arabia is also concentrating on increasing local auto production, which is predicted to increase demand for silicone additives throughout the forecast period, driving the growth of the Saudi Arabia market as a whole.
Saudi Arabia Silicone Additives Market – Overview
Silicone additive is a synthetic chemical substance made by the combination of silicon & oxygen atoms. It offers properties such as waterproofing and heat reduction and is used as a conditioning and emulsifying agent. Silicone additives are generally used in the coating as silicone additives reduce the surface tension of the liquid coating. Silicone additives are extensively used in paints, inks, and coatings. In addition, silicone additives application in food & beverage, personal & home care, chemical & petroleum plays a key role in driving the market.
Saudi Arabia Silicone Additives Market – By Application
Based on application, the Saudi Arabia silicone additives market is segmented into plastics & composites, paintings & coating, paper & pulp, personal & healthcare, food & beverages, chemical manufacturing and oil & gas, agriculture, construction, and textile. The plastics & composites segment accounts for the highest share in the market as they are used to improve the manufacturing process, the product's surface polish, and its fire resistance. The paintings and coatings applications segment is expected to register growth at the highest CAGR during the forecast period owing to rising demand for high quality paints and coatings in the automobile industry.
Impact of COVID-19 on Saudi Arabia Silicone Additives Market
The COVID–19 pandemic outbreak affected the growth of the Saudi Arabia silicone additives market. The restrictions on the economic activities such as manufacturing in the country due to increasing cases of coronavirus led to a significant decline in the domestic demand for silicone additives. The automobile industry, which is the major end user industry for the silicone additives, underwent huge losses during the lockdown period. The demand for cosmetic and personal care products also registered a significant decline during this period, which also resulted in huge losses to the Saudi Arabia silicone additives market as well.
Competitive Landscape
Major players operating in the Saudi Arabia silicone additives market include Dow Corning, Evonik, Shin-Etsu, Momentive Performance Materials, BYK Additives, BRB International, Wacker Chemie AG, Elkem ASA, and ALTANA. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Saudi Arabia Silicone Additives Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Saudi Arabia Silicone Additives Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Saudi Arabia Silicone Additives Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.3. Growth Drivers
- 3.3.1. Increasing Demand in Automobile and Paints Segments
- 3.3.2. Changing Consumption Patterns Coupled with Rising Demand for Cosmetics Products
- 3.4. Restraints
- 3.4.1. Health Hazards from Silicone Additives to Impede Market Growth
- 3.5. Opportunities
- 3.5.1. Constant Growth in Economy and Rise in Living Standards
- 3.5.2. Rapid Adoption in Architectural Applications
- 3.6. Challenges
- 3.6.1. Manufacturing good quality product at low cost
- 3.7. Technology Landscape/Recent Developments
- 3.8. Regulatory Framework
- 3.9. Porter’s Five Forces Analysis
- 3.9.1. Bargaining Power of Suppliers
- 3.9.2. Bargaining Power of Buyers
- 3.9.3. Threat of New Entrants
- 3.9.4. Threat of Substitutes
- 3.9.5. Intensity of Rivalry
- 4. Saudi Arabia Silicone Additives Market Overview
- 4.1. Market Size & Forecast by Value, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Function
- 4.2.1.1. Defoamers
- 4.2.1.2. Wetting & Dispersing Agents
- 4.2.1.3. Rheology Modifiers
- 4.2.1.4. Surfactants
- 4.2.1.5. Lubricating Agents
- 4.2.1.6. Others
- 4.2.2. By Application
- 4.2.2.1. Plastics & Composites
- 4.2.2.2. Paintings & Coating
- 4.2.2.3. Paper & Pulp
- 4.2.2.4. Personal & Healthcare
- 4.2.2.5. Food & Beverages
- 4.2.2.6. Chemical Manufacturing and Oil & Gas
- 4.2.2.7. Agriculture
- 4.2.2.8. Construction
- 4.2.2.9. Textile
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Offerings
- 5.2. Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- 6. Impact of COVID-19 on Saudi Arabia Silicone Additives Market Industry
- 7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 7.1. Dow Corning
- 7.2. Evonik
- 7.3. Shin-Etsu
- 7.4. Momentive Performance Materials
- 7.5. BYK Additives
- 7.6. BRB International
- 7.7. Wacker Chemie AG
- 7.8. Elkem ASA
- 7.9. ALTANA
- 7.10. Other Prominent Players
- 8. Research Methodology
- 8.1. Qualitative Research
- 8.1.1. Primary & Secondary Research
- 8.2. Quantitative Research
- 8.3. Market Breakdown & Data Triangulation
- 8.3.1. Secondary Research
- 8.3.2. Primary Research
- 8.4. Breakdown of Primary Research Respondents, By Region
- 8.5. Assumption & Limitation
- 9. Key Strategic Recommendations
- List of Figures
- Figure 1 Saudi Arabia Silicone Additives Market Segmentation
- Figure 2 Saudi Arabia Silicone Additives Market Value Chain Analysis
- Figure 3 Porters Analysis
- Figure 4 Saudi Arabia Silicone Additives Market Size, By Value (USD Million), 2019–2029
- Figure 5 Saudi Arabia Silicone Additives Market Share, By Function, By Value, 2019–2029
- Figure 6 Saudi Arabia Silicone Additives Market Share, By Application, By Value, 2019–2029
- Figure 7 Saudi Arabia Silicone Additives Company Market Share Analysis, 2022
- List of Table
- Table 1 Saudi Arabia Silicone Additives Market Size, By Function, By Value, 2019–2029
- Table 2 Saudi Arabia Silicone Additives Market Size, By Application, By Value, 2019–2029
- Table 3 Key Offerings, By Players
- Table 4 Competitive Benchmarking, By Operating Parameters
- Table 5 Key Strategic Developments
- Table 6 Dow Corning Company Overview
- Table 7 Dow Corning Financial Overview
- Table 8 Evonik Company Overview
- Table 9 Evonik Limited Financial Overview
- Table 10 Shin-Etsu Company Overview
- Table 11 Shin-Etsu Financial Overview
- Table 12 Momentive Performance Materials Company Overview
- Table 13 Momentive Performance Materials Financial Overview
- Table 14 BYK Additives Company Overview
- Table 15 BYK Additives Financial Overview
- Table 16 BRB International Company - Company Overview
- Table 17 BRB International Company Financial Overview
- Table 18 Olympus Corporation Company Overview
- Table 19 Olympus Corporation Financial Overview
- Table 20 Wacker Chemie AG Company Overview
- Table 21 Wacker Chemie AG Financial Overview
- Table 22 Elkem ASA Company Overview
- Table 23 Elkem ASA Financial Overview
- Table 24 ALTANA Company Overview
- Table 25 ALTANA Financial Overview
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