Worldwide Silicone Market will hit USD 21 Billion in 2021: A to Z Research

The report covers forecast and analysis for the silicone market on a global and regional level. According to the report, global demand for silicone market was valued at over USD 15.3 billion in 2015, is expected to reach around USD21 billion in 2021 and is anticipated to grow at a CAGR of slightly above 5.5% between 2016 and 2021.The study includes drivers and restraints for the market along with the impact they have on the demand over the forecast period. Additionally, the report includes study of opportunities available in the silicone market on a global level.

Growing demand for silicone from building and construction sector drives the silicone market. Different manufacturing practices are done for production of silicone due to huge availability of resources. Expanding end user applications owing to widespread properties is expected to accelerate the growth of market. Heat, water and radiation are the major driving properties for the silicone market. However, silicone market growth is restricted owing to escalating price of methyl chloride and silicone which are raw material for production of silicone. Research and development for new product development and increasing demand from promising economies is estimated to propel market growth over the years to come.

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Some of the major types of silicone are resins, elastomers, gels, fluids and other. Elastomers is dominating segment due to high use of elastomers in building and construction. Silicone elastomers serve protective glaze, high adhesive and strength for skyscrapers. Silicone has infinite number of applications in several industries including chemical industry, plastics, paper, building and construction, automotive and transportation, textile, medical and personal care, electrical and electronics and other. Building and construction is the foremost segment owing to adoption of silicone as adhesive, sealants and in coatings. Chemical industries are likely grow at the fastest pace over the next few years.

Out of total silicone consumption, Asia-Pacific dominated the silicone market in 2013. Asia-Pacific dominated the market with 50% of silicone consumption globally in 2013. China is the leading among Asian countries, owing to enormous of consumers. Europe and U.S. is expected to witness decent growth within the forecast period due to huge stake in silicone development. Latin America and Middle East show slow growth in silicone market in coming up years.

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In order to give the users of this report a comprehensive view on the silicone market, we have included a detailed competitive scenario, and type portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the silicone market has also been included. The study encompasses a market attractiveness analysis, wherein type segments are benchmarked based on their market size, growth rate and general attractiveness.

The study provides a decisive view on the silicone market by segmenting the market based on resins, elastomers, gels, fluids and other. Applications include chemical industry, plastics, paper, building & construction, automotive & transportation, textile, medical & personal care, electrical & electronics and other. All the segments have been analyzed based on present and future trends and the market is estimated from 2015 to 2021. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India and Brazil.

The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include Wacker Chemie AG, The DOW Corning Corporation, Shin-Etsu Chemical Company, Rogers Corporation, Momentive Performance Materials Inc., Kaneka Corporation, Jiangsu Hongda New Material Co. Ltd, Emerald Performance Materials Llc, Arkema SA, BASF SE, Zhejiang Xinan Chemical Industry Group Co. Ltd, Specialty Silicone Products Inc, and Nusil Type among others.

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This report segments the silicone market as follows:

Silicone Market: Type Segment Analysis

Resins
Elastomers
Gels
Fluids
Other
Silicone Market: Applications Segment Analysis

Chemical industry
Plastics
Paper
Building and Construction
Automotive and Transportation
Textile
Medical
Personal care
Electrical and Electronics
Other
Silicone Market: Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa

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