Global Silicone Market size was valued US$ 15.75 Bn in 2019 and the total revenue is expected to grow at 10.7% through 2020 to 2027, reaching US$ XX Bn. The report has covered region-wise market trends with a competitive landscape. The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The global silicone market is driven by the superior properties of silicone, high demand for silicone in the electronics industry, construction industry and lightweight automotive materials. The upsurge adoption of waterborne coatings and the rise in demand for silicone across several end-user industries will impel market growth in the upcoming period. However, the stringent regulatory policies for silicone, the adverse health impact of silicone, and the high prices of silicone products may restrain the market growth at the global level. High market potential in structural silicone glazing (SSG), development of antimicrobial silicone elastomers for the healthcare industry, and high penetration of electric vehicles are projected to create beneficial growth opportunities for key players in the market. Fluctuating raw material prices is the major challenge for the silicone market in the near future.
Based on the application, the silicone market is segmented into elastomers, fluids, resins, gels, others. The elastomers segment has led the silicone market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. Elastomers are broadly utilized in lightweight automobile parts for better fuel efficiency and reduce emissions. The rising demand for silicone elastomer in automotive production including connector seals, spark plug boots, and gaskets are estimated to create growth opportunities for silicone elastomer in the market. Elastomers are suitable for use in surgical and medical applications, particularly in artificial heart valves & many prosthetic devices and blood transfusions, due to their properties such as extreme temperature resistance, durability, biocompatibility, and their physiological inertness.
Geographically, the Silicone market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the major market share of XX% in 2019 and is expected to reach US$ XX Mn by the end of 2027, with a CAGR of XX%. The technologically advanced healthcare sector and rising automotive industry are increasing the demand for the silicone market in North America. Europe held the second-largest market share XX% in 2019 and is expected to grow at the CAGR of XX% during the forecast period owing to the well-established automotive sectors in Germany, U.K., France, and Italy. Asia Pacific is expected to grow at a CAGR of XX% during the forecast period thanks to the presence of large electronics manufacturing base and a growing consumer base in the region. Several key players are established and increasing their manufacturing facilities in the Asia Pacific due to low manufacturing and labor costs are boosting the silicone market growth in the region. India, China, Japan, and South Korea are the leading contributor to the regional market. Among these, China holds the largest regional market share XX% over the upcoming period.
The objective of the report is to present a comprehensive analysis of the Global Silicone Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Silicone Market dynamics, structure by analyzing the market segments and project the Global Silicone Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Silicone Market make the report investor’s guide.
Scope of the Global Silicone Market:
Global Silicone Market, by Type
• High Temperature Vulcanized (HTV)
• Liquid Silicone Rubber (LSR)
• Room Temperature Vulcanized (RTV)
Global Silicone Market, by End-use Industry:
• Industrial Process
• Building & Construction
• Personal Care & Consumer Products
• Electrical & Electronics
• Medical & Healthcare
Global Silicone Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Silicone Market, Major Players:
• The Dow Chemical Company
• Wacker Chemie AG
• Shin-Etsu Chemical Co. Ltd.
• Elkem ASA
• Momentive Performance Materials Inc.
• KCC Corporation
• Evonik Industries AG
• Gelest Inc.
• Innospec Inc.
• Kaneka Corporation
• Ashland Incorporated
• Arkema Group
• Emerald Performance Materials, LLC,
• BASF SE
• CSL Silicone Inc.
• Reiss Manufacturing, Inc.
• CHT Group
• Silchem, Inc.
• Silteq Limited
• Roger Corporation
• Primasil Silicone
• Sivance, LLC
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