According to research report titled ‘Global Silicon Additives Market Size study, by Function (Defoamers, Wetting & Dispersing Agents, Rheology Modifiers, Surfactants, Lubricating Agents) by Application (Plastics & Composites, Paints & Coatings, Paper & Pulp, Personal & Homecare, Food & Beverages, Chemical Manufacturing and Oil & Gas, Agriculture) and Regional Forecasts 2021-2027,’ available with Market Study Report, global silicon additives market was valued at USD 16.3 billion in 2020 and is expected to register a CAGR of 7.2 % during 2021-2027, thereby accumulating USD 23.4 billion by the end of analysis period.
 

Factors like high product usage in paint & coating as it reduces surface tension making beneficial in overcoming surface defects like poor wetting and cratering, alongside application in cosmetics are driving the growth of global silicon additives market.
 

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As per reliable sources, German chemical company Wacker Chemie AG introduced a new silicone additive named Genioplast Pellet 345 additive for thermoplastic polyurethanes (TPU) in July 2019. This additive helps in reducing the hardness of TPU and boosts elasticity.
 

Additionally, longer shelf life and weather resisting properties offered by silicon additives to products, and rising demand for high quality coatings are further boosting the progress of the industry.
 

On the contrary, costly raw materials, complex manufacturing process, and use of dearly platinum catalysts in manufacturing silicone are slowing down the development of the global silicon additives market.
 

The marketplace is segmented on the basis of function and application. Based on application spectrum, the plastics & composites section is generating high demand owing to the ability of silicone additives to enhance product longevity, along with its sustainable nature.
 

The geographical terrain of the industry space is defined by regions like North America, Europe, Asia-Pacific, and Latin America.  Among these, Latin America market is anticipated to register substantial gains during 2021-2027, attributable to easy availability of raw materials.
 

Meanwhile, Asia Pacific is slated create lucrative growth opportunities for silicon additives manufacturers in the coming years, owing to low production and manufacturing costs in countries like India, China, and South Korea.
 

Prominent companies operating in worldwide silicon additives market are Evonik Industries AG, Dow Silicones Corporation (Dow Corning), Siltech Corporation Inc., Shin Etsu Chemical Co., Ltd., Wacker Chemie AG, BRB International B.V., Elkem ASA, BYK Additives & Instruments, Momentive Performance Materials, and KCC Corporation.