Global Silicone Market Projected to Grow at 5.4% CAGR through 2026, APEJ to Account for Highest Demand

The global silicone market is projected to grow at a CAGR of 5.4% during the assessment period 2017-2026. The growth of the market will be driven by rising demand from several end-use industries, such as automotive, construction, and cosmetics. However, availability of affordable alternatives can limit market growth. These insights are according to a new research report titled “Silicone Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026” that has been added to the vast repository of Market Research Reports Search Engine (MRRSE).

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The report is a comprehensive source of information and analysis that gives readers a lucid outlook on the prospects of silicone market in the future. An unbiased and accurate qualitative and quantitative analysis has been included in the report. According to the report, demand for silicone is growing in various end-use industries on account of its features and lesser threat to the environment. Some of the key products where silicone finds widespread application includes gels, lubricants, and thermal insulation.

In a bid to give readers detailed and comprehensive insights, the report has segmented the global market on the basis of form type, end user, and region. By form type, the key segments include elastomers, resins, gels, and fluids & emulsions. The key end users include healthcare, construction, consumer care, automotive, performance additives/functional ingredients, fluids & emulsions, and others. The market analysis and forecast has been offered for the regions North America, Europe, Asia Pacific excluding Japan (APEJ), Latin America, Japan, and Middle East & Africa (MEA).

According to the report, by form type, silicones fluids and emulsions remain preferred among end-users on account of their widespread application in various end-use industries such as pharma, healthcare, and textiles. This segment accounts for over 40% volume share of the market, and it is expected that it will continue to remain sought-after among manufacturers during the assessment period.

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Asia Pacific excluding Japan (APEJ) is one of the leading markets for silicone globally. The region is home to many manufacturing hubs of silicone, and leads in terms of production and consumption. Robust demand from China and India is likely to provide growth opportunities to silicone manufacturers during the assessment period. The report also outlines the business and product strategies of some of the leading players in the silicone market. Some of the companies profiled in the report include Koninklijke Philips N.V., AGFA Healthcare, Image Analysis, Esaote S.P.A, INFINITT Healthcare Co, Ltd., Sciencesoft USA Corporation, General Electric Company (GE), Aquilab, Carestream Health, Inc., Merge Healthcare Incorporated, Siemens Healthineers, Mim Software, Inc., Toshiba Medical Systems Corporation Mirada Medical Limited, and Xinapse Systems Ltd.

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