Silicones Market Analysis & Technological Innovation by Leading Key Players - Shin-Etsu Chemical Co., Dow Corning Corporation, Momentive Performance Materials Inc, Wacker Chemie AG, and Bluestar Silicones International Co.
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Silicones Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $20,784 million by 2022, registering a CAGR of 4.9% during the period 2016-2022. Silicone elastomers segment dominated with more than one-third share of the market revenue and volume in 2015.
The silicone market is driven by factors such as rapid infrastructure development, growing adoption of medical implants, and superior properties namely less CO2 and other greenhouse gas emissions from silicone products. Silicones bond with most materials, from concrete, glass, granite, and marble to aluminum, steel, and plastics. These are the best choice for various infrastructure activities owing to their advantages such as high durability and resistance to decay caused to other materials through rough weather conditions, moisture, or sunlight.
Silicones are widely accepted as safe materials for the human body and are also approved by the FDA after extensive research to be used as a fixture or implant in different parts of the body. They are also utilized in many other medical treatments to facilitate healing at a faster rate, enhance the appearance of existing scars, and decrease discomfort. The factors that restrain the market growth include availability and volatile cost of raw materials.
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Silicones market is segmented into different types such as elastomers, fluids, resins, and gels. The elastomer segment accounted for more than one-third of the global silicone market, both in terms of volume and revenue in 2015, owing to its unique ability to retain its mechanical properties over a wide temperature range. Hence, silicone elastomers are mostly applicable in construction, where they are used as structural glazing sealant. Silicone fluids is the second largest segment and are mostly used in cosmetics, paints & coatings, and healthcare industries.
Key Findings of Silicones Market:
Asia-Pacific is expected to continue to lead the market throughout 2022, followed by Europe.
The building & construction end-user segment accounted for nearly half of the global silicones demand in 2015.
Silicone elastomers market volume is projected to grow with a higher CAGR of 5.6% during the forecast period.
China contributed one-fifth of the silicones market volume in 2015.
Asia-Pacific and Europe collectively contributed about two-thirds to the silicones market revenue in 2015.
In the year 2015, Asia-Pacific dominated the silicones market due to its high consumption in building & construction and vehicle production.
The prominent players profiled in this report include Bluestar Silicones International Co., Ltd. (France), Shin-Etsu Chemical Co. Ltd. (Japan), Momentive Performance Materials Inc. (U.S.), Wacker Chemie AG (Germany), Dow Corning Corporation (U.S.), Evonik Industries AG (Germany), Sivance LLC (U.S.), CSL Silicones Inc. (Canada), Emerald Performance Materials, LLC (U.S.), and ICM Products Inc. (U.S.).
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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