The global silicone market is expected to reach USD 18.73 billion by 2024, according to a new report by Grand View Research, Inc. Silicone is used extensively in construction, automotive and electronics on account of its low toxicity, flammability, and smoke density; inertness to chemicals & solvents; and oil & fuel resistance. Products in elastomeric forms exhibit low UV degradation and excellent insulation properties which will promote their usage as electroactive polymers.
Browse Full Research Report With TOC on http://www.radiantinsights.com/research/silicone-market
Electronics & electrical applications accounted for 18.7% of total market revenue in 2015. Rising importance of protection against electrostatic discharge (ESD) and electromagnetic interference (EMI) in electronics sector is expected to play a crucial role in promoting the use of conductive polymers and thus likely to expand the industry size of silicone rubber.
Request A Sample Copy Of This Report at: http://www.radiantinsights.com/catalog/chemicals
Further key findings from the report suggest:
- Silicone fluids reported sales of USD 5.24 billion in 2015, making it one of the most extensively used product. These products are utilized in the formulation of hydraulic oils, transformer oils, damping fluids, heat-resistant lubricants and release agents. Rising importance of lubricants as a primary source of preventive maintenance in the manufacturing sector is expected to promote the usage fluids in lube formulations.
- Elastomers are expected to witness growth at a CAGR of 4.5% from 2016 to 2024, in terms of volume. Within the silicone elastomers market, RTV is projected to witness volume growth at a CAGR of 5.2% from 2016 to 2024. RTV is used for manufacturing cockpit equipment, engine electronics potting, and engine gaskets on account of on account of exhibiting properties including low shrinkage and good flowability.
- Transportation is expected to foresee volume growth at a CAGR of 4.4% from 2016 to 2024. Rising demand for lightweight materials in automobiles is expected to promote the use of conductive silicone products in the form of wires and cable insulation. Increasing vehicle production in the U.S., Germany, UK, China, and Japan is expected to result in high demand for silicone products in these markets over the projected period.
- Asia Pacific is expected to foresee a volume growth at a CAGR of 5.3% from 2016 to 2024. Rapid industrialization in emerging economies including China and India is likely to result in high demand for silicone products for the development of numerous end-products. Furthermore, rising construction spending in China, India, Thailand, Indonesia, Malaysia, and Vietnam is expected to upscale the requirements of the product in the form of sealants, gaskets, and rings over the forecast period.
Explore Other Reports By Radiant Insights,Inc at
- Automatic Espresso Machines Sales Market –
http://www.radiantinsights.com/research/global-automatic-espresso-machines-sales-market-report-2021
- Polyester Fiber Sales Market –
http://www.radiantinsights.com/research/global-polyester-fiber-sales-market-report-2021
- Reed Relays Sales Market –
http://www.radiantinsights.com/research/global-reed-relays-sales-market-report-2021
About Radiant Insight
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic dxecision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
Media Contact
Company Name: Radiant Insights, Inc.
Contact Person: Michelle Thoras, Corporate Sales Specialist – USA
Email: sales@radiantinsights.com
Phone: (415) 349-0054, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Website: http://www.radiantinsights.com/research/silicone-market