Silicones Market worth $20784 Million by 2022
According to a new report published by MarketIntelReports, titled “World Silicones Market“, the silicones market is expected to reach $20,784 million by 2022, growing at a CAGR of 4.9% from 2016 to 2022. Silicone elastomers segment dominated with more than one-third share of the market revenue and volume in 2015.
Browse World Silicones Market – Opportunities and Forecast, 2014 – 2022 Research Report
Silicones are high-performance oligomers or polymers with an alternating siliconoxygen backbone, formed with aliphatic or aromatic side groups. They are considered as a modern class of synthetic materials in which siloxane functional group forms the backbone and can take a variety of physical forms such as solids, semi-viscous pastes, oils, and more.
They are produced by reacting silicon with methyl chloride and further reaction with water. Silicones are resistant to high & low temperatures and find applications in several products used across a wide range of end-user industries.
Manufacturers of silicone are carefully complying with the regulations and norms drawn by the public authorities from the U.S., Europe, and Asia to safeguard human health and the environment.
There are myriad growth drivers for the world silicones market, of which the most important is the rapid growth of building & construction and electronic end-use sectors, especially in Asia-Pacific.
Silicones are mainly used as adhesives, sealants, and coatings in these sectors.
In addition, silicone rubbers are widely used as sculptor materials make accurate reproductions of original sculpture. Silicone-based products also contribute toward energy savings and greenhouse-gas emission reduction, which increases its popularity in the end-user market.
Rising cost of key raw materials, methyl chloride & silicon metal, hinders the market growth. Emerging economies in Asia-Pacific, such as India, Indonesia, and Thailand, offer various opportunities for the silicones market owing to the rapidly growing end-user industries in these countries.
The world silicones market is segmented on the basis of type, end user, and geography. Based on different types, the market is classified into elastomers, fluids, resins, and gels.
Silicones find applications in various industries such as building & construction, transportation, electronics, medical, textile & leather, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
The silicones market, with its surging demand in end applications, witnessed a high growth during the past few years, and this growth trend is estimated to continue in the future too. Key players in the market invest huge capital in R&D activities to develop enhanced products, which helps to meet current demand areas including advanced medical science.
Major Players of Market:
Major players in the silicones market are Shin-Etsu Chemical Co., Ltd. (China), Dow Corning Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), Wacker Chemie AG (Germany), and Bluestar Silicones International Co., Ltd. (France).
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- The report provides an in-depth analysis of the world silicones marketand estimations from 2014 to 2022, including information about the current market situation, changing market dynamics, expected trends, and market intelligence.
- The factors that drive and impede the growth of the world market are comprehensively analyzed in this study.
- Porters Five Forces model and SWOT analysis illustrate the potency of buyers and sellers.
- The report contains a comprehensive study of the key strategies adopted by companies to gain competitive advantage in the market.
- Micro-level analysis is conducted based on type, end user, and region.
SILICONE MARKET KEY SEGMENTS:
BY END USER
- Building & Construction
- Textile & Leather
- Others (Paints & Coatings, Cosmetics, Paper)
- United States
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
The demand for silicones from electronics end user segment is projected to increase at a CAGR of 6.5%, owing to increase in the global electronics device & component production, especially in China & other emerging countries. The demand in medical end user segment is expected to show considerable growth due to its growing usage in implant, dental bridges, medical device, medical tubing, and scar gel.
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