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Silicone Market Analysis and Opportunity Assessment 2020 – 2030 | Key Players Ashland, Momentive, Kemira, Dow Corning

12-16-2021 11:37 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

/ PR Agency: Future Market Insights
Silicone Market Analysis and Opportunity Assessment 2020 –

Silicone is an eminent component in various industries, given its umpteen benefits such as high durability, foam control, UV stability, radiation resistance and adhesion. Non-toxicity of silicone drives its application in the food sector where optimum quality is imperative.

Over the last few years, silicone have been a key component in the automobile industry for reducing overall weight of vehicles which further enhances fuel-efficiency. Further, the excellent properties of silicone allows market players to develop customized solutions as per end users’ requirement.

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Global Silicone Market – Growth Restraints

Fluctuating prices of raw materials are majorly hampering the silicone market growth. Government agencies such as the UK Competent Authorities and the European Chemicals Agency (ECHA) has impose reduction on the usage of cyclosiloxanes D4 and D5, used in cosmetic and personal care industry.

Both the silicone products are expected to be limited to concentration of 0.1% by weight in cosmetic formulations.

In medical sector, silicone are considered medical-grade only if they meet the standards of USP Class V and VI. Furthermore, silicone manufacturers have to fulfil various regulations including, Restriction of Use of Hazardous Substances (RoHS), the Dodd-Frank Act, and the US government’s International Traffic in Arms Regulations (ITAR) for production of silicone rubber used in healthcare sector. The entire process is time-intensive, thus, putting strain on market revenue pool.

Get More Details @ https://www.futuremarketinsights.com/reports/silicone-industry-market

Impact of COVID-19 on Global Silicone Market

The COVID-19 pandemic has created a steep downfall in world economy by halting manufacturing processes and disrupting supplies in global trade.

Silicone is commonplace material in several industries - cosmetics, automotive and construction – as such, drastic reduction in demand from these end-use industries is severely hitting the profit margins of manufacturers.

Consequently, manufacturers are partially or completely halting their production units, further causing turmoil in the supply chain.

On the other hand, demand for silicone from health care sector have seen a significant uptake amid the COVID-19 pandemic. Medical gloves derived from silicone cause none to minimal allergic reactions. Moreover, rising concerns regarding virus spread are fueling the usage of silicone gloves for common use, and this demand will continue for a long period.

Global Silicone Market - Regional Analysis

Asia Pacific (APAC) would remain in the vanguard of the global silicone market both in terms of revenue share and CAGR. The market growth in the region is majorly driven by well-established electronics and automotive industry.

High adoption of renewable energy and fast uptake of electric vehicles (EV) are providing lucrative opportunities for silicone manufacturers. China, Japan, India, and Australia are attracting huge stakeholders’ attention, given presence of large manufacturing sector in these countries.

Emergence of automotive sector in Mexico is driving the silicone market in North America. Rising demand for minimally-invasive surgeries in tandem with well-developed healthcare infrastructure is further propelling the regional market.

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Global Silicone Market - Competitive Landscape

The global silicone market is fairly consolidated comprising limited number of players. These market leaders are continuously focusing upon expansion activities and R&D projects to widen the application of silicone materials. For instance,
• Wacker Chemie AG (Germany) and Shin-Etsu Chemical Co. Ltd. (Japan) are expanding their manufacturing units in APAC, owing to low cost production and cheap labors.
• In June 2020, Shin-Etsu developed a new technology - Reduced-Platinum Reaction Curing System Technology - for reducing the usage of platinum in silicone release coatings.

Players in global silicone market includes
• Shin-Etsu
• Ashland
• Momentive
• Kemira
• Dow Corning
• Wacker Chemie.

Global Silicone Market - Segmentation
By End Users
• Construction
• Automotive
• Industrial Application
• Other

By Curing Method
• Acetoxy
• Oxime
• Alkoxy
• Others

Ask Us Your Questions About This Report: https://www.futuremarketinsights.com/ask-question/rep-gb-980

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Website: https://www.futuremarketinsights.com

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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