The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Silicone Modified Polyester Resin Market: Introduction
Silicone modified polyester resin is a blend of a silicone intermediate and polyester. Silicone improves the weather resistance and gloss retention of polyester coatings. Silicone modified polyester provides the high adhesion to glass, flexibility, good weather ability, good insulation, wide compatibility, good heat resistance, solvent resistance etc. Attributing to such favorable properties of silicone modified polyester, the market is expected to witness significant growth and is projected for a positive outlook.
Silicone modified polyester resins improve gloss retention and polyester’s chalk performance. They are widely used in commercial building paints and coatings for better abrasion/ scratch resistance, fade /chalk advantage over polyesters, outstanding color consistency, etc. Thus, the consumption of silicone modified polyester resins is expected to surge during the forecast period. Increasing use of silicone modified polyester (SMP) resin in various end use industries is expected to further aid the growth of the SMP resin market.
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Silicone Modified Polyester Resin Market: Dynamics
Silicone modified polyester resin is used in various applications, such as in protective and decorative coatings for electrical and electronic equipment and in BM ink for touch panels. Attributing to the wide area of applications silicone modified polyester resins find, manufacturers are expected to increase the production of silicone modified polyester resins to cope with the demand, which is expected to fuel the growth of the silicone modified polyester resin market during the forecast period.
Continuous investments in research & development along with strategic partnerships along the pre-coated metal production chain (paints, surface treatment, coater’s application and curing processes) are expected to lead the silicone modified polyester resin market during the forecast period.
Continuously rising demand for low cost and high performance coatings and implementation of modern technologies and aggressive environmental policies, such as REACH are expected to be the major factors restraining the growth of coil coatings and subsequently, that of silicone modified polyester coatings.
Silicone Modified Polyester Resin Market: Segmentation
The silicone modified polyester resin market can be segmented on the basis of application as:
The silicone modified polyester resin market can be segmented on the basis of silicone content as:
Silicone Modified Polyester Resin Market: Regional Outlook
Asia Pacific is expected to witness robust growth in terms of consumption of silicone modified polyester resins during the forecast period, which can be attributed to the growing metal appliances and glass industries in China and India. Implementation of new technologies and consolidations is one of the key factors estimated to lead the silicone modified polyester resin market in North America. For instance, in December 2016, PPG Industries, introduced Durastar Ultra-Cool coatings, which combines infrared-reflective (IR-reflective) pigments with advanced silicone-modifies polyester coatings formulation to extend and enhance the service life and beauty of panels, building components etc.
Europe is expected to witness significant growth in the silicone modified polyester resin market, owing to the fact that pre-coated steel and aluminum can be recycled with few losses. These factors have contributed significantly to the growth of the silicone modified polyester resin market in the recent past and the trend is expected to continue over the next decade..
Latin America and Middle East & Africa (MEA) are expected to witness decent growth of in the silicone modified polyester market, attributing to the rising demand for appliances in countries, such as Turkey, Brazil, Mexico and GCC Countries.
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Silicone Modified Polyester Resin Market: Market Participants
Examples of some of the market participants in the silicone modified polyester resin market are: