Consumer awareness drive demand
Silicone additives demand in India is projected to grow at a CAGR of 6.85% during 2019-2030 to reach 15.02 KTPA by 2030 from 6.82 KTPA in 2018, according to a report by ResearchAndMarkets.
Demand is driven by increasing use of silicone additives across various applications such as textile coating, protective paints, antifouling coatings in naval shipping, genuine and artificial leather, outdoor furniture, technical textiles, protection of printed text on food packaging, and creation of soft and smooth surfaces in accessories and clothing to enhance levelling, smoothing or reduced foaming.
Rapid urbanization, growing industrialization, increasing use of silicone additives in the automotive industry for making mar-resistant vehicle bodies with soft matte finish, said the report “India Silicone Additive Comprehensive Techno-Commercial Market Analysis and Forecast, 2013-2030”
Rising consumer awareness regarding the quality and features offered by silicone additives would positively influence the market in coming years, said the report released 25 April 2019.
Some of the major players operating in the Indian silicone additives market are Dow Chemicals International Private Limited, Wacker Metroark Chemicals Private Limited, BASF India Limited, Elkay Chemicals Pvt Ltd, Resil Chemicals and Elkem South Asia Private Limited. fiinews.com
