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

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