Press release
Silicone Market is Forecasted to Reach US$ 23.73 billion in 2028, Says Stratview Research
Stratview Research, a global market research firm has launched a report on the global silicone market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1448/silicone-market.html#form
Report Highlights:
Market Size in 2028: US$ 23.73 billion
Growth (CAGR): 5.7% during 2022-2028
Forecast Period: 2022-2028
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Silicone Market:
The global silicone market is segmented based on product type, end-use type, and region.
Based on product type - "The elastomers segment accounted for the largest market share."
The silicone market is segmented as elastomers, fluids, resins, gels & other products. The elastomers segment accounted for more than 40.0% of the market share in 2021 and is expected to remain dominant during the forecast period, as they are extensively used in different products, such as cooking, food storage products, baking, electronics, electrical insulation, medical devices, and garments.
Based on end-use type - "The industrial process segment accounted for the largest market share."
The market is segmented as industrial process, building & construction, personal care & consumer products, transportation, electronics, medical & healthcare, energy, and others. The industrial process segment accounted for more than 20% market share in 2021 and is expected to remain dominant in the market owing to a surge in demand for silicone material in various applications, such as industrial coating, lubrication, paper production, anti-foaming agents in drilling, and paint additives. Silicone is also used in industrial sealing solutions.
To know the most attractive segments, click here:
https://www.stratviewresearch.com/1448/silicone-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific accounted for more than 40% of the market share in 2021 and is estimated to be the largest market for silicone during the forecast period. This growth outlook is majorly attributed to the following-
• The region's market is mainly supported by increase in demand for silicone in various end-use industries, such as industrial process, building & construction, electronics, etc. In addition, some of the manufacturers of silicone are expanding their facilities in this region, which is further propelling the growth of the market.
• China and India are the major growth engines of the Asia-Pacific region.
• North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
Silicone Market Drivers:
Some of the key drivers listed in the report are given below.
• A rise in demand for electronics, semiconductors, and consumer goods globally
• A rise in construction activities
• Properties like chemical stability, versatility, and high resistance to temperature.
Top Companies in the Silicone Market:
Stratview Research has identified the following companies as the top market players.
• CHT Group
• C S L Silicones Inc.
• Kaneka Corporation
• Primasil Silicones Limited
• Reiss Manufacturing Inc.
• Silicone Engineering Ltd.
• Silicone Solutions
• Siltech Corporation
• SiVance, LLC
• Zhejiang Xinan Chemical Industrial Group Co., Ltd.
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Silicone Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Silicone Adhesives Market: https://www.stratviewresearch.com/595/silicone-adhesives-market.html
• Silicone Gel Market: https://www.stratviewresearch.com/596/silicone-gel-market.html
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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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