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Saudi Arabia Silicone Additives Market

Saudi Arabia Silicone Additives Market

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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

  • Published Date: January 2023
  • Report ID: BWC23086
  • Available Format: PDF
  • Page: 112

Report Overview

An increasing demand for silicone additives in cosmetics, paints, and automotive industry and changing consumer habits are expected to drive Saudi Silicone Additive Market during the forecast period between 2023 and 2029.

Saudi Arabia Silicone Additives Market - Industry Trends & Forecast Report, 2029

Saudi Arabia silicone additives market size is projected to grow at a CAGR of 6.30% during the forecast period between 2023 and 2029. Major growth factors for the Saudi Arabia silicone additives market include the growing demand for paints and coatings due to the expanding automobile and construction industry in the country. Saudi Arabia is significantly investing in economic diversification due to which the number of building constructions for commercial and industrial purposes is increasing. It is also focusing on boosting the domestic production of automobiles, which is expected to boost the demand for silicone additives during the forecast period, propelling the overall Saudi Arabia market growth during the forecast period.

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. Silicone additive is used as a conditioning and emulsifying agent. They 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 an important role in propelling the market.

Saudi Arabia Silicone Additives Market

Growth Drivers

Increasing Demand for Silicone Additives in Automobile and Paints Segments

The demand for silicone additives is expected to increase during the forecast period, especially from the automotive and paints industries, as a result of the Saudi government's increasing investments in economic diversification and development in the industrial sector as part of the Saudi Vision 2030 and the National Industrial Development and Logistics Program (NIDLP). According to ZAWYA, the Saudi Industrial Development Fund (SIDF) Chairman and Minister of Industry and Mineral Resources Bandar Al-Khorayef stated that by 2030, the nation "targets to build more than 300,000 automobiles yearly."

Restraints

Health Hazards from Silicone Additives

Silicone additives can have a negative impact on people’s health and the environment including carcinogenicity, genotoxicity, alterations in protein structure, immune system deterioration, teratogenicity, skin rashes and irritations, and elevated intraocular pressure. These are all grave health issues, some of which may even be deadly. Additionally, repeated physical contact with silicone compounds may harm a person's skin and internal organs. The growth of the Saudi Arabia silicone additives market may be hampered by all of these issues.

Impact of COVID-19 on Saudi Arabia Silicone Additives Market

The COVID–19 pandemic outbreak adversely 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, witnessed 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.

Saudi Arabia Silicone Additives Market

Segmental Coverage

Saudi Arabia Silicone Additives Market – By Function

Based on function, the Saudi Arabia silicone additives market is segregated into defoamers, wetting & dispersing agents, rheology modifiers, surfactants, lubricating agents, and other segments. The defoamers segment holds the highest share in the Saudi Arabia silicone additives market. Silicones are extensively utilized in a number of industrial applications, such as wastewater treatment, building materials, paints and coatings, metalworking fluids, agriculture, cleaning products, pulp and paper, and food processing, as defoamers (add as needed) and antifoams (added up front).

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 grow at the highest CAGR during the forecast period owing to rising demand for high quality paints and coatings in the automobile industry.

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.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Million

Product/ Service Segmentation

Function, Application

Key Players

Dow Corning, Evonik, Shin-Etsu, Momentive Performance Materials, BYK Additives, BRB International, Wacker Chemie AG, Elkem ASA, ALTANA

 

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

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Saudi Arabia Silicone Additives Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
    3. Growth Drivers
      1. Increasing Demand in Automobile and Paints Segments
      2. Changing Consumption Patterns Coupled with Rising Demand for Cosmetics Products
    4. Restraints
      1. Health Hazards from Silicone Additives to Impede Market Growth
    5. Opportunities
      1. Constant Growth in Economy and Rise in Living Standards
      2. Rapid Adoption in Architectural Applications
    6. Challenges
      1. Manufacturing good quality product at low cost
    7. Technology Landscape/Recent Developments
    8. Regulatory Framework
    9. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Saudi Arabia Silicone Additives Market Overview
    1. Market Size & Forecast by Value, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Function
        1. Defoamers
        2. Wetting & Dispersing Agents
        3. Rheology Modifiers
        4. Surfactants
        5. Lubricating Agents
        6. Others
      2. By Application
        1. Plastics & Composites
        2. Paintings & Coating
        3. Paper & Pulp
        4. Personal & Healthcare
        5. Food & Beverages
        6. Chemical Manufacturing and Oil & Gas
        7. Agriculture
        8. Construction
        9. Textile
  5. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    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) **
    1. Dow Corning
    2. Evonik
    3. Shin-Etsu
    4. Momentive Performance Materials
    5. BYK Additives
    6. BRB International
    7. Wacker Chemie AG
    8. Elkem ASA
    9. ALTANA
    10. Other Prominent Players
  8. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    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

Market Segmentation

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

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Frequently Asked Questions (FAQs):

Ans: The defoamers segment held the highest Market share in the Saudi Arabia Silicone Additives Market by function.
Ans: The paints and coatings segment held the highest Market share in Saudi Arabia Silicone Additives Market by application.
Ans: Saudi Arabia Silicone Additives Market is expected to grow at a CAGR of 6.3% during the forecast period between 2023 and 2029.
Ans: Major factors driving the growth of Saudi Arabia Silicone Additives Market include increasing demand in automobile and paints segments and changing consumption patterns coupled with rising demand for cosmetics products.
Ans: Key players in 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.