Global silicones market is expected to reach USD 19.56 Billion by 2026, at a CAGR of 4.90% from 2019 to 2026. Favorable properties of silicones such as chemical stability, ozone and UV resistance and consistent performance over a wide temperature range are driving the global silicones market.
Silicones belong to a family of specialty, high performance materials. Silicones are polymers containing synthetic compound made up of repeating units of siloxane. Silicones are characteristically heat-resistant and either liquid or rubber-like, and are commonly used in sealants, adhesives, lubricants, medicine, cooking utensils, and thermal and electrical insulation. Owing to their molecular structure, silicones can be manufactured in many forms including solids, liquids, semi-viscous pastes, greases, oils and rubber. Silicones exhibit a wide range of chemical and physical properties, such as flexibility, resistance to moisture, chemicals, heat, cold and ultraviolet radiation etc. Thus, increasing utilization of the silicones in various applications such as flame resistant, airtight gasket, and water proofing in the construction sector is anticipated to bolster demand for the silicones over the forecast period.
- The base year for the study has been considered 2018, historic year 2016 and 2017 and, the forecast period considered is from 2019 to 2026. The global silicones market is analysed on the basis of value (USD Billion) volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons).
- The study delivers a comprehensive analysis of global silicones market by product, application and regions. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global silicones market. This report incorporates the industry analysis which is focused on providing an extensive view of the silicones market.
- The study also includes attractiveness analysis of product, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the silicones market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Rapid growth of electronics industry
- Growing demand for the strong, lightweight materials from the automobile industry
- Superior chemical and physical properties of silicones
- Volatility in the raw material prices
- Growing use in the construction industry as an energy-efficient and green material
- Increasing demand for the housing and commercial structure
- Potential use in the aerospace sector
- Environmental regulations on the silicones manufacturing process
Global Silicones Market Key Findings:
All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
The global silicones market has been segmented on the basis of product and application.
- Product segment is divided into fluids, gels, resins, elastomers, and others. The elastomers segment emerged as a leader in the global silicones market with a 43.29% share of market revenue in 2018. This increased market share can be attributed to the superior chemical resistance, water repellency, and easy coloring properties of elastomers as well as wide spread use in the end user industries.
- The application segment includes electrical & electronics, transportation, construction, textiles, pharmaceuticals and others. The transportation segment is anticipated to grow at an accelerated CAGR of 6.97% over the forecast period. Silicone based grease and lubricants are finding widespread acceptance due to their stability over a wide temperature range and excellent tear resistance.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region emerged as the largest market for silicones with a 42.78% share of market revenue in 2018.
- Huge ongoing investment on the development of residential and commercial space is generating a sizable demand for silicone from the Asia Pacific region. The region is also a home to the rapidly growing electronics and automobile industry. As a result, the Asia Pacific region dominated the global silicone market.
- The North America region held a robust share of global silicone market in 2018. Healthy demand from the construction, transportation and electronics sector were the key driving factors behind this increased demand.
Global Silicones Market Competitive Analysis:
Key players in the global Silicones market are Shin-Etsu, Silchem, Inc., ICM Products Inc., Silteq Ltd., Wacker Chemie GmbH, Specialty Silicone Products, Inc., Evonik Industries AG, Hutchinson, Kemira Oyj, Allergan, Ashland Incorporated, CSL Silicones Incorporated, Dow Corning Corp., CRI-SIL Silicone Technologies, LLC, RUSNANO, Quantum Silicone, Momentive Performance Materials Inc., Trelleborg AB, Bluestar Silicones International Co., Ltd., and among others. Major players are focusing on new product launch in order to effectively participate in the highly competitive market. For instance in 2016, Dow Corning High Performance Building Solutions introduced new Dow Corning® IE 6686 Water Repellent, a next-generation, silicone-based microencapsulation/ emulsion for fiber-reinforced cement (FRC) admixtures that delivers excellent resistance to water uptake and efflorescence.
*All our reports are customizable as per customer requirements
This study forecasts revenue and volume growth at global, regional, and country levels from 2016 to 2026. Fior Markets has segmented the global silicones market on the basis of below mentioned segments:
Global Silicones Market by Product:
Global Silicones Market by Application:
- Electricals & Electronics
Global Silicones Market by Region:
- North America
- South America
- Middle East and Africa