Silicones Market Highlights:
Silicones belong to the family of polymers, which comprises of siloxanes and silanes that are derived from pure silicon. They are produced by the reduction of silicon dioxide (silica) in the form of sand with carbon at high temperatures. Silicones are produced in three steps: synthesis of chlorosilanes, hydrolysis of chlorosilanes, and condensation polymerization. They exhibit excellent properties such as superior weathering and aging resistance, thermo stability, high water repellency, chemical resistance, strong electrical insulation, and super anti-foaming properties, which make them suitable for utilization in numerous end-use applications such as personal care & consumer products, automotive & transportation, building & construction, medical & healthcare, industrial process, and others.
Key Players:
Some of the key industry participants include Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Momentive (U.S.), Elkem Silicones (Norway), Evonik Industries (Germany), KCC Corporation (South Korea), GELEST, INC. (U.S.), NuSil Technology LLC (U.S.), Specialty Silicone Products, Inc. (U.S.), Saint-Gobain Performance Plastics (France), and BASF SE (Germany) among others.
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Segmentation:
The global silicones market is classified on the basis of type, application, and region. Based on the type, the market is segmented into resins, fluids, gels, and elastomer. Based on application, the market is categorized into the application; the market is classified into building & construction, personal care & consumer products, automotive & transportation, medical & healthcare, industrial process, and others. Other applications include electrical & electronics, paper, textile, and energy. Based on regions, the market is segmented into the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Regional Analysis
The global silicones market is categorized into five regions, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among them, Asia Pacific region is estimated to grow with the highest CAGR during the forecast period, (2017 to 2023) on account of the expansion of various end-use industries such as automotive & transportation, personal care, and building & construction among others. The demand for silicones is predicted to surge in the numerous countries of the Asia Pacific such as China, India, Bangladesh, Singapore, Japan, Thailand, South Korea, and Malaysia due to the approval of large-scale industrial, residential, as well as commercial building & construction projects.
Furthermore, growing number of working professionals coupled with increasing disposable income in emerging nations has presented an opportunity to spend on personal care products, which, in turn, is estimated to propel the growth of the market. Additionally, high economic growth, inexpensive raw material, labor & land cost, and shifting manufacturer base in this region are important factors for the regional market growth.
The Asia Pacific emerged as the largest silicones market in 2016, which is further followed by Europe and North America. North America is estimated to witness an above-average growth in silicones market on account of increasing demand from healthcare sector along with the continuous growth of the medical sector in this region. The U.S. accounted for the largest regional market share in 2016 followed by Canada due to rising demand for personal care and consumer goods. In Europe, countries such as Germany, the U.K, Italy, France, Russia, and Spain are among the leading market contributors and is estimated to retain their dominance due to the robust automobile manufacturing base along with high adoption rate among various end-use industries.
Intended Audience
- Silicones manufacturers
- Traders and Distributors of Silicones
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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LIST OF TABLES
Table 1 World Population By Major Regions (2016 To 2023)
Table 2 Global Silicones Market: By Region, 2016-2023
Table 3 North America Silicones Market: By Country, 2016-2023
Table 4 Europe Silicones Market: By Country, 2016-2023
Table 5 Asia-Pacific Silicones Market: By Country, 2016-2023
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