Silicone Market Key Players, Demands, Trends, Growth Rate, Size, Share and Forecasts to 2027

The silicone market is projected to grow from USD 18.5 Billion in 2022 to USD 27.0 Billion by 2027, at a CAGR of 7.8% during the forecast period. The growing population, rising per capita income, rapid industrialization, and infrastructural development have led to the growth of the building & construction industry, thereby driving the demand for silicone.

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The silicone market is a rapidly growing industry that is expected to continue expanding in the coming years. Silicones are synthetic materials that are derived from silicon, a naturally occurring element, and are used in a wide variety of applications due to their unique properties.

Some of the most common uses of silicones include:

Construction: Silicones are used in construction to create weather-resistant sealants, coatings, and adhesives.

Automotive: Silicones are used in the manufacturing of car parts, such as gaskets, hoses, and seals, due to their resistance to heat and chemicals.

Electronics: Silicones are used in electronics to protect and insulate components from moisture, dust, and other contaminants.

Personal Care: Silicones are used in personal care products, such as shampoos, conditioners, and lotions, to improve their texture and feel on the skin or hair.

Medical: Silicones are used in medical devices, such as catheters and implants, due to their biocompatibility and ability to withstand sterilization.

Companies Covered: Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Elkem ASA (Norway), The Dow Chemical Company (US), Momentive Performance Materials, Inc. (US),Gelest, Inc. (US), Sivance, LLC (US), Evonik Industries AG (Germany), Innospec, Inc. (US), Siltech Corporation (Canada),Hoshine Silicon Industry Co., Ltd. (China), Reiss Manufacturing, Inc. (US), Kaneka Corporation (Japan), CHT Group (Germany), Specialty Silicone Products, Inc. (US), and Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China) and others.

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This release was published on openPR.