“Global Silicone Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz. The global silicone market report has been segmented on the basis of type, end-use industries, and region.
Silicone is a part of high-performance specialty materials. Silicones are polymers contains large molecules having several repeated sub-units. Silicones polymers consist of a siloxane, which is basically a chain of alternating silicon and oxygen atoms combined with carbon and/or hydrogen. Various steps are involved in manufacturing of silicones. First step includes the reaction between methyl chloride and silicon. The product produce by this reaction is treated with water to remove the chlorine atoms. During manufacturing process, silanes are produced. These act as an intermediary in manufacturing of siloxanes and then silicones. These silicones possess various chemical and physical properties. Silicones are resistant to cold, moisture, heat, ultraviolet radiation, and several chemicals.
Increasing demand for silicone across various end-use industries such as building & construction and transportation is a major factor expected to drive growth of the global market over the next 10 years. In addition, increasing adoption of silicone in personal care & consumer products and healthcare sectors is another factor projected to drive growth of the global market over next 10 years.
In addition, increasing awareness regarding sustainable and efficient properties of silicone and various features offered such as airtight gasket, flame resistant, and water proofing in building & construction sector are other factors estimated to drive growth of the target market over the forecast period.
However, stringent government regulations for silicone in some end-use industries and high manufacturing costs are major factors expected to hamper growth of the target market to certain extent.
On the basis of type, elastomers segment is expected to dominate the global silicone market, owing to increasing demand for elastomers from consumer goods, medical, and automotive industries. Silicone elastomers are chemical and corrosion resistant and are utilized widely in consumer goods and automotive industries. In addition, these elastomers offer properties such as durability, biocompatibility, and extreme temperature resistance which makes silicone elastomers suitable for surgical and medical applications. Silicone elastomers are also utilized widely in the electrical and electronic industry, owing to their superior electric properties. The elastomers segment revenue is anticipated to register highest CAGR over the forecast.
On the basis of end-use industries, the industrial process segment is expected to account for significant share in terms of revenue in the global market. The industrial process segment revenue is also projected to register highest CAGR over the forecast.
Asia Pacific silicone market is estimated to account for major share in terms of revenue in the global market. Asia Pacific market is also projected to register fastest growth in terms of revenue over the next few years, owing to booming manufacturing sector, competitive cost base, ample availability of labor, and increasing consumer demand. In addition, rising disposable income and increasing investment in building & construction sectors in countries in this region are other major factors expected to drive growth of the target market over the forecast period.
Global silicone market segmentation:
Segmentation by type:
- Gels & Other Products
Segmentation by end-use industries:
- Building & Construction
- Personal Care & Consumer Products
- Industrial Process
- Others (Medical & Healthcare and Energy)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Dow Silicones Corporation
- Wacker Chemie AG
- Shin-Etsu Chemical Co., Ltd.
- Momentive Performance Materials Inc.
- Elkem ASA
- Gelest, Inc.
- KCC Corporation
- NuSil Technology LLC (Avantor Performance Materials, Inc.)
- Evonik Industries AG
- Specialty Silicone Products, Inc.
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