Silicone Gel Market - Current Trends,Opportunities & Challenges For 2017

The global silicone gel market is segmented on the basis of product, thickness, and end-use. In terms of product, the global market for silicone gel can be segmented into inorganic silicone gel and organic silicone gel. The inorganic silicone gel segment held a majorshare of the market in 2016 due to easy availability of the product and less price as compared to organic silicone gel. This segment is anticipated to register a declining growth rate during the forecast period. The organic silicone gel segment is estimated to expand rapidlyduring the forecast period. This is attributed to the rising awareness among consumers about the benefits of organic silicone gel over inorganic silicone gel.In terms of thickness, the global market for silicone gel is segmented into above 7.0nm, 5nm to7.0nm, 4.5nm to 5nm, and below 2.5nm.

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The 5nm to7.0nm segment accounted for a majorshare of the market in 2016 and is anticipated to expand consistently during the forecast period. This is attributed to the wide range of applications that silicone gel finds in various end-use industries.The 4.5nm to 5nmsegment is anticipated to expandrapidly during the forecast period. In terms of end-use, the global silicone gel market can be segregated into electrical & electronics, medical & pharmaceuticals, cosmetic & personal care, and others.The medical & pharmaceuticalssegment held a majorshare of the market in 2016. It isprojectedto expand consistently during the forecast period. This is attributed to varioususes of silicone gel in cosmetic treatments and surgical equipment in the medical & pharmaceuticals industry. The electrical & electronics segment is estimatedto expand rapidlyduring the forecast period.This is attributed to the usage of silicone gel in different electrical and electronic components, which is boostingexpansion of the segment.

Major drivers driving the global market for silicone gel include superior and efficient properties of silicone gel. It has low toxicity and does not react with different chemicals, which makes it a safe material for all applications. This is propellingthe global silicone gel market. Rapid increase in demand from the electrical &electronics industry is another keydriver fuellingthe global market for silicone gel. Various end-use industries areexhibitingincreased demand for silicone gel for different applications, which is fuelling theglobal silicone gel market. However, high production cost of silicone gel makes it expensive as a raw material and subsequently, small-scale manufacturers are reluctant to use it. This is acting as a major hindrance to the global silicone gelmarket.Additionally, fluctuations in prices of raw materials is also a major hindrance to the silicone gel market. This, in turn,indicateshigh vulnerability in demand for silicone gel. This is hindering the silicone gel market.The rapidly expandingLED lighting and solar energy sectors areproving to be a major opportunity forthe global silicone gel market.Moreover, developingcountries of Asia Pacific and Middle East and Africa are also proving to be major opportunity forthe global silicone gel market.

In terms of geography, the global silicone gel market can besegmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a prominent share among all the regions in 2016. It is anticipated to expand rapidly during the forecast period. North America followed Asia Pacific in terms of market share in 2016. Itis estimatedexpand rapidly during the forecast period.

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Major players operating in the global silicone gel market include Shin-Etsu Chemical Co., Ltd. (Japan), KCC Corporation (South Korea), Momentive Performance Materials Inc. (U.S.), Wacker Chemie AG (Germany), Gelest Inc. (U.S.), Siltech Corporation (Canada),and DOW Corning Corporation (U.S.).

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