UAE Silicone Additives Market to Grow with a CAGR of 3.36% through 2028
Surge in research and development activities is expected to drive the UAE
Silicone Additives Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “UAE Silicone
Additives Market– By Region, Competition, Forecast and Opportunities,
2018-2028F”, the UAE Silicone Additives Market is anticipated to grow with
a CAGR of 3.36% in the forecast period, 2023-2028. The initiatives taken by
government based on silicone additives has led to favorable market conditions
for the UAE Silicone Additives Market. Several factors contribute to the growth
of various silicone additives market products.
The UAE
government has recently launched a groundbreaking global initiative that aims
to foster the development of innovative solutions specifically targeted at
addressing the Sustainable Development Goals (SDGs). Although not directly
related to silicone additives, this pioneering initiative seeks to promote
sustainable industrialization practices, which in turn could potentially have a
significant impact on various industries that utilize silicone additives.
Furthermore, in
their ongoing commitment to sustainability, the UAE government has implemented
a wide range of policies and strategies that actively encourage the utilization
and production of energy from renewable sources. These forward-thinking policies
extend to all sectors, including those that rely on silicone additives, thereby
fostering sustainable practices and ensuring a greener future for industries
across the board.
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The ongoing
research and development (R&D) efforts in the silicone additives industry
are dedicated to expanding the applicability of these additives and creating
innovative solutions that meet the evolving needs of diverse industries. This
includes exploring new avenues for application, such as enhancing the
durability of silicone additives in extreme conditions and optimizing their
functionality for specific industry requirements. Moreover, the focus is also
on developing environmentally sustainable silicone additives that contribute to
a greener future. Through these ongoing advancements, new and high-performance
silicone additives are being introduced into the market, offering enhanced
performance, improved functionality, and a commitment to environmental
sustainability.
The UAE Silicone
Additives Market is segmented in function, application, regional distribution,
and company.
Based on its application, the plastics & composites
segment held the largest share in the market. The increasing demand for
silicone additives from various end-use industries, such as plastics and
composites, is significantly contributing to the growth of the market. These
industries highly appreciate and recognize the added value that silicone additives
bring to their products.
With the incorporation of silicone additives, their
products exhibit enhanced qualities, including increased durability, improved
performance, superior aesthetics, and an overall superior user experience. This
has led to a surge in demand for silicone additives as industries strive to
meet the ever-evolving needs and expectations of their customers.
Based on region, Dubai segment is expected to grow
during the forecast period.
The construction industry in Dubai is experiencing a
rapid and flourishing boom, with numerous residential buildings and
construction sites swiftly emerging across the cityscape. One of the vital
elements in the construction process is the extensive use of silicone
additives, which play a crucial role in enhancing the performance and
durability of adhesives and sealants. These additives not only contribute to
the overall quality of construction materials but also ensure long-lasting and
reliable structures that can withstand the demanding environment of Dubai.
Major companies operating in UAE Silicone Additives
Market are:
- Dow Corning Ltd
- Evonik Gulf FZE
- Shin-Etsu Chemical Co., Ltd.
- Momentive Performance Materials FZE
- BYK-Chemie GmbH
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“Growing application of silicone additives in various
end user industries are key drivers of the silicone additives market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of silicone additives with
every passing year are anticipated to register an impressive growth to UAE
Silicone Additives Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“UAE Silicone Additives Market By Function (Defoamers,
Wetting & Dispersing Agents, Rheology Modifiers, Surfactants, Lubricating
Agents, Others), By Application (Plastics & Composites, Paint & Coatings,
Healthcare, Food & Beverage, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of UAE Silicone Additives Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in UAE Silicone Additives Market.
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