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Global Polydimethylsiloxane (PDMS) Market Expected to Deliver Dynamic Progression until 2028 | Major Players - Wacker Chemie AG, DowDuPont Inc., Elkem ASA, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., Gelest Inc., LGC Ltd, Elkay Chemicals
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A polydimethylsiloxane or silicon-based sealant is stable in the absence of moisture as well as during exposure to moisture, facilitating modifiable modulus of flexible elastomer. Important properties as such and others are highly explored in the manufacturing of adhesives, sealants, and coating formulations that are highly used in the construction sector. The construction industry is consistently flourishing against the backdrop of rapid urbanization and significant investments in the infrastructure developments, especially the commercial sector. That said growing demand for construction industry-specific adhesive sealants and protective coatings is driving the growth of the polydimethylsiloxane market.
The construction and transport industry segments are estimated to report the highest revenue generation and expand 1.5X and 1.4X during the forecast period, respectively. Increasing demand for PDMS as an adhesive and a sealant in the automotive, aerospace and shipping applications is, in turn, driving the growth of the PDMS market during the forecast period.
Considering the polydimethylsiloxane types, the elastomers segment is estimated to report highest market revenue by contributing to over half of the total volume sales by 2028 among all segment types against the backdrop of growing demand expected to come from the automotive industry, electronic products, medical consumables and other consumer products. PDMS fluids are expected to follow the trail with almost 30% of the volume sales by 2028 end on account of growing demand for lubricants and emulsions in the industrial process and personal care industry.
While Western Europe is expected to report a considerable share of global production and consumption of polydimethylsiloxane during the forecast, PDMS market in Europe and North America are observed to be mature markets and witness a staggering growth rate during the forecast. APEJ, on the other hand, is projected to helm the PDMS market by reporting highest production and consumption during the forecast on the account of rapidly expanding construction, personal care and electronic manufacturing industries and presence of a fistful of polydimethylsiloxane manufacturers, particularly in China.
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Amid the challenges of government regulations and trade tariffs on PDMS raw materials, the polydimethylsiloxane market in China is expected to dominate the APEJ region with the CAGR of about 5.2% during the forecast period. ASEAN and India, coupled with Latin America, are anticipated to register relatively higher growth rates during the review period.
On account of such distinct growth trajectories across regions, manufacturers operating in the polydimethylsiloxane (PDMS) market are channelizing efforts towards strengthening their production capacities and focusing on specific regions to leverage growth opportunities in the untapped avenues of the PDMS market. For instance, industry titans in the polydimethylsiloxane market including Shin-Etsu Chemical Co., Ltd, Elkem ASA and Momentive Performance Materials Inc are adopting business strategies while focusing on the high growth potential markets, such as Asia, Latin America and the Middle East and have established their sales divisions and production facilities in Asia and Latin America.
In addition, product launch is another trending feature in the PDMS market where leading manufacturers are involved in the introduction of new products to win over market competition in the global space. For instance, in 2017, DowDuPont material science division and Momentive Performance Materials launched silicone-based products for home & personal care and cosmetics & skin-care applications, respectively. In 2018, Elkem Silicones and Wacker Chemie AG also introduced new brands for agriculture and cosmetics industry, respectively.
While polydimethylsiloxane is a highly preferred silicone-based organic compound for multiple industry applications, emerging markets of PDMS alternative compounds and environmental regulations are expected to add friction to the adoption trend of polydimethylsiloxane, thereby challenging the market growth during 2018-2028.
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