Silicones Market Research Report 2023, Size, Share, Price Trends and Forecast to 2028

According to the new market research report by IMARC Group, the global silicones market size reached US$ 13.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.77% during 2023-2028.

Silicones, or polysiloxanes, are polymeric, synthetic materials that are formulated from siloxanes. They are odorless, water repellent, resistant to chemical attack, and have high oxidation and temperature stability. Owing to these properties, they are widely used in lubricant oils, greases and biomedical implants. As silicones help fabrics retain their shape and texture, as well as provide resistance to abrasion, they are also being used to design sportswear that is lightweight, durable, water repellent and high performing.

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Competitive Landscape:

Some of the major players operating in the industry include

Dow Chemical Company
Wacker Chemie AG
Shin-Etsu Chemical Co., Ltd.
Momentive Performance Materials Inc.
Elkem ASA

What are the major market drivers in the Silicones market?

Over the years, there has been an increase in the usage of silicones for the production of sealants, thermal and electrical insulation, and adhesives owing to their rubber-like quality and heat-resistant nature. Besides this, silicone polymers are non-greasy, do not cause skin irritation and have low surface tension, smooth feel, and anti-foaming properties.

As a result, they are incorporated in personal care products and cosmetics, such as sun care products, antiperspirants, creams and conditioners. As compared to their petrochemical-based counterparts, products manufactured using silicones generate less carbon dioxide, along with other greenhouse gases. This has, in turn, augmented their demand from numerous end use industries, such as electronics, paints, construction and food. Some of the factors that have positively influenced the growth of the market include increasing infrastructure development, along with the expansion of production facilities in emerging markets.

Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/silicones-market

The report has segmented the market into the following categories:

Breakup by Product Type:

Elastomers
Fluids
Gels
Resins

Breakup by Application:

Industrial Processes
Construction Materials
Home and Personal Care
Transportation
Energy
Healthcare
Electronics
Others

By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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This release was published on openPR.