Press release
Silicone Market is Projected to Reach USD 33.25 Billion by 2030: Cognitive Market Research
Silicone Market is Projected to Reach USD 33.25 Billion by 2030: Cognitive Market Research
What is Silicone?
Silicone refers to the global industry that produces and sells silicone-based products, including silicone fluids, elastomers, resins, gels, and other specialty materials. Silicone is a synthetic polymer made up of silicon, oxygen, carbon, and hydrogen that has a wide range of physical and chemical properties. It is used in various industries, including automotive, construction, electronics, healthcare, personal care, and others, due to its unique properties such as flexibility, heat resistance, durability, and stability over a wide temperature range. The global silicone market is driven by the growing demand for these materials in various end-use applications and is expected to continue to grow in the coming years.
Summary:
As per the study of CMR, the Global Silicone Market size was valued at USD 18.43 Billion in 2022 and will reach USD 33.25 Billion by 2030 and is expected to grow at a CAGR of 7.7% during the forecast period (2023-2030).
To know more about The Silicone Market statistics click here: https://www.cognitivemarketresearch.com/silicone-market-report
Market Dynamics:
Silicone Market Drivers:
The demand for silicone-based products is growing rapidly due to their excellent properties such as resistance to heat, cold, and chemicals, durability, and flexibility. This has led to an increase in demand from various industries such as automotive, construction, electronics, healthcare, and personal care which eventually drives the market growth.
Silicones are used in the production of various energy-efficient products such as LED lighting, solar panels, and wind turbines. The increasing focus on reducing carbon emissions and energy consumption is driving the demand for these products, which in turn is driving the demand for silicone.
Silicone Market Opportunities:
Silicones are widely used in the production of electric vehicle components such as batteries, sensors, and cables due to their excellent properties such as heat resistance and durability. Thus, increasing demand for electric vehicles further opens lucrative opportunities for the market.
Silicone Market Restraints:
The silicone market is subject to various regulations related to environmental impact, health and safety, and product quality. Compliance with these regulations can be costly and time-consuming, and non-compliance can result in fines and legal action. These several factors may hamper the market growth.
Silicone Market Segmentation:
Type:
• Elastomers
• Fluids
• Resins
• Gels & Other products
Based on type, the elastomers segment has the largest revenue share in the silicone market. Silicone elastomers are in great demand because of rising demand in the medical, electronics, personal care, and automotive industries. Silicone elastomers are frequently utilized in the automotive and consumer products industries because they are corrosion- and chemical-resistant. Silicone elastomers are suited for the medical end-use market thanks to qualities including biocompatibility, toughness, and severe temperature tolerance. Due to their exceptional electric capabilities, silicone elastomers are also widely employed in the electronics end-use industry.
End-Use:
• Building & Construction
• Transportation
• Personal care & Consumer Products
• Industrial Process
• Electronics
• Medical & Healthcare
• Energy
Competitive Analysis of the Silicone Market: Dow Corning Corporation, Wacker Chemie AG, 3M Company, BASF SE, Bluestar Silicones International, Kaneka, KCC Corporation, Momentive Performance Materials, Evonik Industries
Get free sample pages of the latest published Silicone Market Report: https://www.cognitivemarketresearch.com/silicone-market-report#request_sample
Regional Analysis:
Asia Pacific accounted for the largest share of the silicone market.
Asia Pacific has the largest revenue share in the silicone market. China, India, Japan, and South Korea make up the majority of silicone markets in the Asia Pacific region. The biggest user of silicone in the area is the industrial process. The expansion of the transportation and building & construction sectors has increased the region's need for silicones because of the expanding economy and rise in disposable income. India in the Asia Pacific region had the greatest CAGR in the silicone market over the projection period, followed by China, South Korea, and Japan.
Silicone Market News:
In York, South Carolina, Elkem inaugurates a new, highly specialized facility for the production of high-purity medical silicones. (September 2022)
In York, South Carolina, Elkem will debut its brand-new, specialized facility for manufacturing ultra-pure medical silicones. This brand-new 18,000-square-foot facility is equipped with cutting-edge ISO-certified Class 7 and Class 8 clean rooms and is intended to create high-purity silicone materials that satisfy the demands of the MedTech and Pharma markets.
Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Silicone Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Silicone Market Segmentation
1.5.1 Silicone Market Regional Fragmentation
1.5.1 Silicone Market Players
• 1.6 Report Duration
• 1.7 List of Stakeholders
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Silicone Market
• 3.1 Global Silicone Market Size 2018 - 2030, (USD Million)
• 3.2 Global Silicone Value, Absolute & Opportunity Analysis
• 3.3 Global Silicone Market Y-o-Y Growth Rate Projection by Region (2023 - 2030)
• 3.4 Global Silicone Market Statistics 2022: Snapshot
Chapter 4 Global Silicone Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Silicone Market by Type Segmentation Analysis (2018-2030)
Chapter 10 Global Silicone Market by End Use Segmentation Analysis (2018-2030)
Chapter 11 Global Silicone Market Regional Analysis
Chapter 12 North America Silicone Market Outlook (2018 - 2030)
Chapter 13 Europe Silicone Market Outlook (2018 - 2030)
Chapter 14 Asia Pacific Silicone Market Outlook (2018 - 2030)
Chapter 15 Latin America Silicone Market Outlook (2018 - 2030)
Chapter 16 Middle East and Africa Silicone Market Outlook (2018 - 2030)
Chapter 17 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)
To know more about The Silicone Market TOC click here: https://www.cognitivemarketresearch.com/silicone-market-report#table_of_contents
Related Report:
• Silicone Elastomers Market- https://www.cognitivemarketresearch.com/silicone-elastomers-market-report
• Automotive Silicone Market- https://www.cognitivemarketresearch.com/automotive-silicone-market-report
• Silicone Rubber Heaters Market- https://www.cognitivemarketresearch.com/silicone-rubber-heaters-market-report
Blog:
• What is the Difference Between Primary Research and Secondary Research?: Cognitive Market Research- https://www.cognitivemarketresearch.com/blog/what-is-the-difference-between-primary-research-and-secondary-research
Article:
• Silicon Carbide Ceramic Foam Filters Market is rising due to its wide array of applications in various end use industries- https://www.cognitivemarketresearch.com/articles/silicon-carbide-ceramic-foam-filters-market-is-rising-due-to-its-wide-array-of-applications-in-various-end-use-industries
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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Illinois, 60602
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About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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