Rapid developments in antimicrobial silicone elastomers and increasing usage of silicone in various industries
— Emergen Research
VANCOUVER, BC, CANADA, August 19, 2022 /EINPresswire.com/ — The global silicone market size reached USD 15.53 Billion in 2020 and is expected to register a revenue CAGR of 6.8%, during the forecast period, according to latest analysis by Emergen Research. Increased research & development of antimicrobial silicone elastomers and rising silicone application across a variety of sectors are some of the major factors fueling the consistent revenue growth of the global silicone market.
During the projected period, silicone’s rising application in textiles, paper, leather wrapping, labels, and airbags is also anticipated to propel market expansion. In these applications, silicone has been employed as a solvent, adhesive, foaming agent, and an anti-foaming agent. In textile mills, silicones are employed in a variety of processes, including the creation of yarn and the finished product. Silicones are used to soften, regulate foam, and lubricate yarn or cloth. Silicones are also used as hydrophobic coatings on the finished product.
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The rising use of conducting silicone rubber in the anti-slip process for textile manufacturing is anticipated to have a notably beneficial impact on market revenue growth over the course of the forecast period due to its excellent electrical and chemical resistance features. increased participation of the government in regulation along the entire value chain. This covers the supply of various silicone product grades, the manufacturing procedures, and the raw materials.
The reports cover key developments in the Silicone market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships and collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Silicone market are anticipated to lucrative growth opportunities in the future with the rising demand for Silicone in the global market. The market is expected to grow at a significant CAGR during the forecast period.
Some major companies in the global market report include Wacker Chemie AG, Momentive Performance Materials Inc., The Dow Chemical Company, Shin-Etsu Chemical Co., Ltd., Elkem ASA, Evonik Industries AG, KCC Corporation, Silchem Inc., Specialty Silicone Products, Inc., and Elkay Chemicals Pvt. Ltd.
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Key Highlights from the Report
Revenue growth for the fluids segment is anticipated to occur at a very quick CAGR during the forecast period. Due to rising buying power, rising demand for personal care goods, and rising use of silicones as an element in coatings and adhesives, demand for cosmetic items is anticipated to expand.
Over the projection period, the construction segment is anticipated to experience a considerably strong rate of revenue growth. Silicones are frequently used in the construction sector due to their qualities, including moisture resistance, high strength, and usage. Silicones are employed in a variety of building materials that are used in both residential and commercial structures, including glassware, concrete, marble, aluminium, metal, and polymers.
Due to the substantial presence of prominent market players, including Shin-Etsu Chemical Co., Ltd., KCC Corporation, and Elkay Chemicals Pvt. Ltd. among others in nations in the region, the market in Asia Pacific is estimated to account for the greatest revenue share throughout the forecast period.
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Outlook of Silicone Market:
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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Emergen Research has segmented the global silicone on the basis of product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
Liquid Silicone Rubber (LSR)
High-Temperature Vulcanized (HTV)
Room Temperature Vulcanized (RTV)
Straight Silicone Fluids
Modified Silicone Fluids
Application Outlook (Revenue, USD Billion; 2018–2028)
End-use Outlook (Revenue, USD Billion; 2018–2028)
Automotive & Transportation
Consumer Goods & Personal Care
What Questions Should You Ask before Buying a Market Research Report?
How is the Silicone market evolving?
What is driving and restraining the Silicone market?
How will each Silicone submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2028?
How will the market shares for each Silicone submarket develop from 2021 to 2028?
What will be the main driver for the overall market from 2021 to 2028?
Will leading Silicone markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2028 and which geographical region will lead the market in 2028?
Who are the leading players and what are their prospects over the forecast period?
What are the Silicone projects for these leading companies?
How will the industry evolve during the period between 2018 and 2028? What are the implications of Silicone projects taking place now and over the next 10 years?
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