Specialty Silicone Market Overview to 2023
Silicones are also known as polisiloxanes, these are polymers that include synthetic compounds made up of siloxane. Silicones are heat resistant and are widely used in adhesives, lubricants, cooking utensils, medicine, and thermal and electric insulation. Specialty Silicones are versatile products that help in enhancing the product performance and make them more durable and effective. Specialty silicones are extensively used in many industries such as electronics, personal care, health care, and building and construction among others.
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Properties such as thermal stability, low toxicity, low chemical reactivity, and heat and water resistance among others make Specialty Silicones suitable for many end-use industries. The increasing demand from the end user industries is the major factor augmenting the growth of the market. Moreover, the growing demand for Specialty Silicone from the skin lightning and other skin care products is further expected to surge the market growth. The global market is segmented on the basis of product type and applications.
Global Top 10 Key Players:
Some of the prominent players operating in the Global Specialty Silicone Market are Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Momentive (U.S.), Shin-Etsu Chemical Company (Japan), Elkem AS (Norway), Evonik Industries AG (Germany), Siltech Corporation (Canada), AB Specialty Silicones (Illinois), and KCC Basildon (U.K) among others.
- Specialty Silicones Manufacturers
- Traders and Distributors of Specialty Silicone
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
The European region is a lucrative market mainly driven by the developed automobile, healthcare, and cosmetic industry. The growing demand for Specialty Silicone from the cosmetic and personal care industry for the use as a protection and to repair hair and skin is driving the growth of the market. Specialty Silicones forms a basic ingredient in skin care products such as creams, serums, shampoos, and other hair care products.
Among the various segments in Specialty Silicone Market, the silicone elastomer segment is the leading segment of the market and is anticipated to continue its dominance over the forecast period. They are extensively used in applications such as dental, medical implants, aerospace, and automotive applications. Superior qualities of silicone elastomers such as low surface friction, tear resistance, thermal resistance and self-adhesive nature pave the way for silicone elastomers to be used in the construction, automotive, consumer goods, healthcare, electrical and electronics among others. The market for the end-use industry is segregated into textiles, healthcare, electronics, agriculture, construction, cosmetic and personal care, chemical, automotive and others. In the end use industries, the construction is the dominant segment and is expected to grow at an encouraging CAGR. The elastomeric properties and durability to withstand harsh climates make specialty silicones an effective use as an adhesive in building and construction.
The Global Specialty Silicone Market is segmented into type and end-use industry. On the basis of type, the market is segregated into antifoam / defoaming agents, silicone elastomers, silicone greases, silicone surfactants, silicone polish, silicone textile softeners, silicone water repellants, thin silicone membranes and others. The market by the end use industry is further categorized textiles healthcare, electronics, construction, cosmetic and personal, automotive and others.
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The Specialty Silicone Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing market with an encouraging CAGR. The growing population and the increasing personal disposable incomes in the developing nations are the major reason driving the growth of the specialty silicone market. Moreover, the burgeoning construction industry in countries such as India, China Indonesia, Vietnam, and South Korea is adding to the demand for silicone adhesives which in turn is propelling the market growth. In addition, the increase in government expenditure coupled with the growing demand for healthcare, personal care, textiles and electronics among other is also contributing significantly to the growth of the market in the region. The major countries adding to the market growth are India, China, and Japan.
North America is another dominant region for the market of Specialty Silicones exhibiting an expanding CAGR. The presence of the big three automobile companies namely General Motors, Ford and Fiat Chrysler has augmented the demand for Specialty Silicone for the use of a sealant in the automobile industry. Furthermore, the newly elected government has brought about the new wave of investments in construction and renovation of the infrastructure mainly in the U.S. and Canada, which is further expected to boost the market in the region.
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