Silicones are high performance polymers that are formed by aliphatic and aromatic side groups. These are considered modern synthetic materials which can be found in various forms such as solids, semi viscous pastes, oils and others. Silicones are resistant to temperature changes and thus are widely used in various end user products. There is high scope for the Silicones Market in various regions across the globe during 2014-2022.
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Scope and Regional Forecast of the Silicones Market:
The Silicones Market is anticipated to generate revenue of about $20,784 million by 2022 and expected to grow at a CAGR of 4.9% during 2016-2022. Growth in demand is propelling the production scope during 2014-2022.
In the Silicones Market, silicones are often used as adhesives, sealants and coatings in various industrial sectors. The demand for less greenhouse gas emission and growing infrastructure activities are the driving factors of this market during 2014-2022.
Asia Pacific is potential region for the development of the Silicones Market owing to the emerging economies such as India, Thailand and Indonesia offering silicones for various end user sectors during 2014-2022.
The Silicones Market is a fast growing market with many applications of silicone rubber material in various end user industries due to the silicon rubber properties and uses in different sectors in various regions across the globe. This market is expected to witness high growth owing to the increasing investment by silicone rubber manufacturers for R&D on silicone properties and high production of silicone rubber compound, growth in supply of silicone polymer and silicone elastomer by silicone suppliers and rise in demand for silicone rubber products in various regions across the globe during 2014-2022.
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Segmentation and Key Players of the Silicones Market:
The Silicones Market is segmented into various categories by type, end user and by geography as follows:
By type: Elastomers, Fluids, Resins and Gels
By end user: Building and Construction, Transportation, Electronics, Medical, Textile & Leather and others (Paints & Coatings, Cosmetics, Paper)
By geography: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa)
The key players in the Silicones Market are as follows:
- Shin-Etsu Chemical Co., Ltd. (Japan)
- Dow Corning Corporation (U.S.)
- Momentive Performance Materials Inc. (U.S.)
- Wacker Chemie AG (Germany)
- Bluestar Silicones International Co., Ltd. (France)
Silicone products are finding their applications in myriad number of industries due to its flexible use for different purposes during 2014-2022.
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