The global ethyl polysilicate market is projected to grow at a steady CAGR of over 4% and is estimated to reach a valuation of over US$ 450 Mn by the end of the forecast period (2019-2027). Ethyl polysilicate is significantly used as a cross linking component in cold-curing silicone rubber systems.
The use of crosslinking agents in the application of paints & coatings has increased due to the high demand for crosslinking agents in water-based coating solutions. Crosslinking in coatings enhances chemical resistance, mechanical toughness and appearance. Industrial coatings with cross-linking agents also enhance color and resistance to corrosion. This has led to increased consumption of ethyl polysilicate thus maximizing margins of key players in the ethyl polysilicate market.
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Key Takeaways of Ethyl Polysilicate Market Study
- According to Fact.MR, APAC is projected to hold one third share in global ethyl polysilicate market and will continue to maintain its reign in the long term forecast period
- Europe is projected to consume more than 1/4th of global ethyl polysilicate demand while China is anticipated to remain the key regional cluster for manufacturers and accounts for more than 20% of global production thus witnessing new growth avenues with emerging Chinese manufacturers in Southeast Asia.
- Ethyl polysilicate is highly used as a binder in paint and emulsions manufacturing and is expected to grow at a CAGR of more than 3% owing to its fast curing, high adhesion and high resistance towards UV radiations. Further, it’s used as a hardening component in the foundry industry and dentistry as an impression material.
- Paints & coatings will drive the demand for ethyl polysilicate , accounting for nearly half of the demand till 2027 and is set to gain 1.2X value by the end of 2027
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“Growing demand for high performance and protective coatings across high potential markets is set to create substantial opportunities for players and will escalate the demand for global ethyl polysilicate in paints & coatings sector” says the Fact.MR analyst
Manufacturers take Collaborative Approach to Maintain their Hegemony
The ethyl polysilicate market is moderately consolidated in nature. Key players are focused on entering into partnerships with leading players in end-user industries such as rubber, which constitutes a key application area of ethyl polysilicate. The growing application for ethyl polysilicate in construction, automotive, and paints and coatings, has created an upsurge in demand due to which manufacturers are focused on the development of ethyl polysilicate in their manufacturing facilities. Leading manufacturers of ethyl polysilicate include COLCOAT, Wacker Chemie AG and Evonik Industries who collectively account for 35% – 40% share in the global ethyl polysilicate market.
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