Silicone Film Market worth $1,087 million by 2023 | Key players Atlas Copco, United Rentals, Inc., Ingersoll Rand, Caterpillar Inc., Loxam Group.

According to recent market research the "Silicone Film Market by Type (Silicone Film, Silicone Coated Film, and Silicone Release Liners), End-Use Industry, and Region (APAC, Europe, North America, Middle East & Africa, and South America) - Global Forecast to 2023", The Silicone Film Market is projected to grow from USD 794 million in 2018 to USD 1,087 million by 2023, at a CAGR of 6.5% from 2018 to 2023. The superior properties of silicone film coupled with their increasing demand from various end-use industries are expected to drive the market during the forecast period. However, high manufacturing and raw material cost restrain the growth of silicone film market.

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The growing trend of miniaturization in the electronics industry has forced electronics component manufacturers to produce smaller components that require higher heat resistance to reduce the probability of failure and ensure reliability. Thus, the demand for silicone film in the electronics industry is increasing rapidly, as it provides adequate protection at component interfaces that is a critical requirement in higher power electronics.

Silicone release liners is expected to account for the largest share, in terms of value as well as volume, of the silicone film market in 2018. Increasing use of silicone release liners due to their properties such as resistance to slip, moisture, and abrasion; and improved adhesion is propelling the silicone film market. Silicone release liners can be produced in multiple configurations, including substrate versions of one-sided and two-sided silicone paper liners. They can be mass produced to accommodate any shape, size, and color as per the applications.

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APAC is the largest silicone film market owing to high consumption of silicone film in the electronics end-use industry. Higher domestic demand along with easy availability of raw materials and low-cost labor make APAC the most preferred destination for the manufacturers of silicone film. Manufacturers focus on this region to gain a significant market share and increase profitability. These factors are attracting companies to adopt expansions and R&D in this region. China, India, Japan, and South Korea are some of the key silicone film markets in the region.

The key players in the silicone film market include Wacker Chemie (Germany), Mitsubishi Chemical Corporation (Japan), Elkem (Norway), Momentive Performance Materials (US), and DowDuPont (US). These players have established a strong foothold in the market by adopting strategies, such as expansion, new product launch, and merger & acquisition.

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Wacker Chemie is among the key players in the silicone film market, which has adopted both organic and inorganic strategies, such as new product launch, expansion, and merger & acquisition. The company provides specialty chemical products, with over 3,000 silicone products. Wacker Chemie has a strong product portfolio of pure silicone film. It offers silicone film through its brands ELASTOSIL and SILPURAN. It is one of the leading silicone manufacturing companies, globally. The company is investing in R&D to enhance its silicone film product portfolio. It has a strong presence in APAC, Europe, North America, and South America.

Mitsubishi Chemical Corporation leads the silicone film market. Performance products, which is a part of the company's business segment, accounted for 30.8% of total businesses, in 2017. The company offers a wide range of pure silicone and silicone coated films. It offers pure silicone film through its brand KEIJU. Mitsubishi Chemical Corporation is working to expand its presence in the market for silicone and silicone intermediates. The company, in 2017, integrated three consolidated subsidiaries namely, Mitsubishi Plastics, Inc., Mitsubishi Chemical Corporation, and Mitsubishi Rayon Co., Ltd. into one company to establish an organizational structure that can take full advantage of each company's capitals and fortes to address a rapidly changing business climate and drive the expansion of its business.

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