The global silicone market was valued at $18.2 billion in 2018, and is projected to reach $91.4 billion by 2026, growing at a CAGR of 22.5% from 2019 to 2026.
Silicone are polymers that are made up of siloxane. Siloxane is a chain of alternating silicon and oxygen atoms combined with carbon or hydrogen. It is a versatile material, owing to its exceptional chemical & mechanical properties, due to which it provides a more diverse range of applications than any other material.
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The electronics companies in Asia are developing efficient luminaries, owing to which there is a surge in the adoption of high-performance silicone. However, rise in prices of raw materials such as silicon & methanol and the need for high energy during the manufacturing of silicone are some of the factors hindering the market growth. Furthermore, surge in adoption of electric cars in developing economies owing to increase in pollution and volatile prices of fuels is creating growth opportunities for silicone manufacturers.
The global silicone market is segmented based on type, end-user, and region.
Depending on type, the market is classified into thin elastomers, fluids, resins, gels, and others. On the basis of end-user, the market is classified into building & construction, transportation, personal care & consumer goods, energy, electrical & electronics, paper, textile, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
ü The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global silicone market from 2019 to 2026 to determine the prevailing opportunities.
ü A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
ü The market size is provided in terms of volume and revenue.
ü Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the silicone industry for strategy building.
ü Profiles of leading players operating in the market are provided to understand the competitive scenario.
ü The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
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KEY MARKET SEGMENTS
• By Type
• By End-User
§ Building & Construction
§ Personal Care & Consumer Goods
§ Electrical & Electronics
• By Region
o North America
§ Rest of Europe
§ South Korea
§ Rest of Asia-Pacific
§ Saudi Arabia
§ South Africa
§ Rest of LAMEA
KEY MARKET PLAYERS
• Dow Inc.
• Shin-Etsu Chemical Co. Ltd.
• Wacker Chemie AG
• Kaneka Corporation
• Evonik Industries AG
• Elkem ASA
• Momentive Performance Materials Inc.
• Arkema Group
• Emerald Performance Materials, LLC
• BASF SE
The other players in the value chain include of the market includes CSL Silicone Inc., Reiss Manufacturing, Inc., CHT Group, Silchem, Inc., Silteq Limited, Allergan, Ashland Incorporated, Saint-Gobain, Roger Corporation, Primasil Silicone, Sivance, and others.