India Silicone Additives Market to Grow with a CAGR of 3.86% through 2029
Growth in research and development activities is
expected to drive the India Silicone Additives Market growth in the forecast
period, 2025-2029
According to TechSci Research report, “India
Silicone Additives Market- By Region, Competition, Forecast and
Opportunities, 2019-2029”, the India Silicone Additives Market stood at USD118.32
million in 2023 and is anticipated to grow with a CAGR of 3.86% in the forecast
period, 2024-2029. Initiatives taken by government based on silicone additives has
led to favorable market conditions for the India Silicone Additives Market.
Several factors contribute to the growth of various silicone additives products. The Indian government has taken steps to actively
encourage and facilitate foreign investment in the country's industrial sector.
A recent and noteworthy example of this is the Munich-based chemical group
WACKER, which has not only recognized the immense potential of the Indian
market but also established a brand new production site for silicones in
Panagarh, India. This strategic move not only signifies their commitment to the
region but also serves as a testament to the growing importance of India in the
global marketplace. By attracting investments of this nature, the Indian
government aims to foster the continued growth and development of the silicone
additives market, creating new opportunities and driving innovation in the
industry.
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One of the primary drivers of the silicone additives
market is the continuous advancements in silicone additive technologies.
Researchers are consistently coming up with innovative methods to improve the
efficiency and effectiveness of silicone additives. These advancements have led
to the development of new products with superior properties such as improved
heat resistance, enhanced flexibility, better adhesion, and increased
durability. These enhanced features make silicone additives highly desirable in
various sectors like paints and coatings, plastics, personal care, and even in
industries such as automotive and construction. The versatility of silicone
additives has opened up new avenues for their application, ranging from
improving the performance of paints to enhancing the durability of construction
materials. As a result, the demand for silicone additives is steadily
increasing, driven by the need for improved product performance and
sustainability across multiple industries.
The India Silicone Additives Market is segmented into function,
end user, regional distribution, and company
Based on its function, the silicone defoamers segment held
the largest market share in the forecast period. The growing environmental
consciousness among users, especially in developed regions, has sparked a
significant increase in the demand for silicone-based defoamers. As industries
continue to prioritize reducing their environmental footprint, the utilization
of silicone defoamers, renowned for their eco-friendly properties, is
anticipated to witness a further substantial rise. This trend is driven by the
recognition of the crucial role that silicone defoamers play in minimizing
foam-related issues while maintaining environmental sustainability in various
sectors such as manufacturing, wastewater treatment, and chemical processing.
With their superior performance and compatibility with diverse applications,
silicone defoamers are becoming increasingly sought after as a sustainable
solution for managing foam and optimizing operational efficiency while aligning
with the global sustainability goals. Based on region, West India segment is expected to
grow during the forecast period. Located in the western part of India,
this region boasts a strategic location that provides convenient access to
major ports. As a result, it becomes effortless for manufacturers to import raw
materials and export finished products, further bolstering the growth of the
silicone additives market. This geographical advantage not only contributes to
the region's dominance but also solidifies its position as a preferred
destination for manufacturers seeking to capitalize on this thriving industry.
Major companies operating in India Silicone Additives
Market are:
- Dow Chemicals International Private Limited
- BASF India Ltd.
- Harmony Additives Private Limited
- Resil Chemicals Pvt. Ltd.
- Wacker Metroark Chemicals Pvt. Ltd.
- Elkay Chemicals Pvt. Ltd.
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“Growing application of silicone additives in various
end user industries are key drivers of the silicone additives market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of silicone additives with
every passing year are anticipated to register an impressive growth to India
Silicone Additives Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“India Silicone Additives Market
By Function (Silicone Defoamers, Silicone Wetting Agents, Silicone Surfactants,
Others), By End
User (Paints & Coatings, Personal & Health
Care, Paper & Pulp, Others), By
Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of India Silicone Additives Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Silicone Additives Market.
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