Global Silicone Market was valued at USD 14.23 Billion in 2016 and is expected to reach at USD 25.12 Billion by 2026, at a CAGR of 5.85%.
Modification of infrastructure in the emerging nations is driving the overall demand for construction chemicals, which, in turn, is expected to drive the demand for silicone in the coming years. In the construction industry, silicones are used in structural glazing and weatherproofing, while contributing to energy efficiency of the buildings. Properties such as heat-resistant allow for its usage in adhesives, sealants or electrical insulation as well.
silicon market Based on type, silicone elastomers is the largest segment of the silicone market. Elastomers has wide usage across various end-use industries such as automotive, electronics, and medical among others. Properties such as extreme temperature resistance, durability and biocompatibility, make silicone elastomers suitable for medical applications. Resistance to chemicals further allow for silicone usage in automotive industries as well.
Based on end-use industry, silicone is largely used in building & construction, transportation, industrial processes, personal care products, electronics and healthcare. Industrial processes and healthcare form some of the largest end-use industry segments of the silicone market.
Expansion together with robust infrastructural development of various end-user industries are making positive impact on the silicon market region. Asia Pacific is expected to lead the silicone market whereas North America, Europe and Asia Pacific will likely hold the major market share for the forecast period.
The Scope of the Report:
Silicone Market, by Type:
- Resins
- Gels & Other Products
- Elastomers
- Fluids
Silicone Market, by End-use Industry:
- Personal Care & Consumer Products
- Industrial Process
- Electronics
- Medical & Healthcare
- Building & Construction
- Transportation
- Energy
- Others
Silicone Market, by Region:
- Asia Pacific
- North America
- Europe
- Middle East & Africa
- Latin America
Key Players Operating in the Silicone Market:
- Dow Corning (US)
- Wacker (Germany)
- Momentive (US)
- Shin-Etsu (Japan)
- Elkem (Norway)
- Evonik (Germany)
- KCC Corporation (South Korea)
- Gelest (US)
- NuSil Technology (US)
- Specialty Silicone Products (US)
This article is published by Maximize Market Research
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