Press release
Silicone Resins Market to Reach $1.5 Billion by 2031, Top Impacting Factors
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Silicone resins are ideally suited for high-temperature applications because of their outstanding thermal resilience. Silicone resins are in high demand in industries that require materials to withstand high temperatures, such as electronics and automotive. Silicone resins are ideal for use in electrical and electronic applications because they are electrically insulating. They are frequently used in the manufacture of insulating materials for electronic components and electrical equipment. Because of the growing electronics industry, silicone resins are frequently used in the production of encapsulants, potting compounds, and adhesives for electronic components. Market growth is being driven by the demand for trustworthy and long-lasting materials in electronic applications. Silicone resins are utilised in a variety of construction products, including sealants, adhesives, and coatings.
Silicone Resins Market Value Chain Analysis
The value chain starts with suppliers of silicone resin raw materials. This comprises silicon metal, methyl chloride, and other chemicals used in the production of silicone resin. This industry is in charge of silicone resin synthesis and manufacture. To convert basic components into final silicone resin products, complex chemical procedures are employed. Silicone resin formulations are sold to coatings and paint manufacturers. Silicone resins are used in the products of these firms to manufacture high-performance coatings for a variety of industries, including automotive, construction, and electronics. Silicone resins are utilised in the manufacture of construction products such as sealants, adhesives, and paints. Silicone resins are utilised in the construction industry to increase the performance and longevity of their materials. Because they allow the supply of silicone resins and associated commodities from producers to end users, distributors play a key role in the value chain. End-users or final customers of silicone resin-containing products. Customers may be purchasing electronics, building materials, medical equipment, or other items where silicone resins improve performance and longevity.
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Based on type, the methyl silicone resins segment garnered more than two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The methylphenyl silicone resins segment would also project the fastest CAGR of 4.9% throughout the forecast period.
Based on end use industry, the electrical and electronics segment garnered more than two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The automobile segment, nonetheless, would project the fastest CAGR of 5.5% throughout the forecast period.
Based on region, the market across Asia-Pacific generated more than two-fifths of the total market revenue in 2021, and is anticipated to retain the lion's share by 2031. The same region would also showcase the fastest CAGR of 5.6% during the forecast period. The other regions studied in the report include LAMEA, North America, and Europe.
The key market players analyzed in the global silicone resins market report include Dow Inc., Elkay Chemicals Private Limited, Elkem ASA, Evonik Industries AG, BRB International, Kaneka Corporation, Wacker Chemie AG, Momentive, Primasil, Savitri Chemicals, Shin-Etsu Chemical Co., Ltd., Siltech Corporation, Sinicon Plastics Inc, Genesee Polymers Corporation, and Supreme Silicones India Pvt. Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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