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Silicone Market Size 2019 - Business Revenue, Growth Opportunity, Application Analysis, Product Study, Competitive Market Share, Reginal Share Report to 2025
Silicone Market
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China was the largest consumer owing to the presence of large scale industries such as electronics, automobile, petrochemicals and textiles. Construction industry in China is also the largest in the world silicone market with an estimated spending of USD 1.78 trillion in 2014.
North America silicone market is likely to witness moderate growth over the forecast period. Latin America and MEA are likely to witness significant gains over the forecast period despite low consumption levels owing to increasing spending capacity coupled with growth in end-use industries such as petrochemicals and automotive.
The global silicone market share is fragmented and is expected to witness few mergers & acquisitions over the forecast period. Key companies operating in this industry include Wacjer Chemie, Dow Corning, Ashland, BASG and 3M Company. Other prominent manufacturers include Arkema, ICM Products, Evonik Industries, Jiangsu Hongda New Material Co. Ltd.
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Growth in transportation industry such as automobiles and aerospace is likely to drive demand. Transportation equipments are continuously exposed to chemical & physical attacks which require durable structures for minimizing maintenance & repairing costs. They are used in automobiles, spacecrafts and ocean vessels to enhance exterior resilience against extreme weather conditions. silicone market in silicone rubber sector includes uses for providing traction and superior wear life to the tires while its coatings & adhesives enhance are used in airbags, joints and vent ducts.
Increase in infrastructure investment and positive outlook on construction and housing space is likely to drive silicone market. Construction is one of the major application avenues, with water repellent coatings, glass coatings, solar panel sealants, LED fixtures, epoxy coatings, sealants and masonry coatings. Sealants are widely used for bonding applications in bathrooms, kitchens and windows which helps in minimizing energy consumption and provides superior heat management. Silicone marine sealant market also presents unique growth space for industry participants.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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