As per the latest report by IMARC Group, the global siloxanes market crossed a volume of 2.5 Million Tons, while the global silicones market reached a volume of around 2 Million Tons in the year 2017. Siloxanes refer to the group of chemical compounds which serve as a building block for silicones. It is a man-made saturated silicone-oxygen hybrid wherein each silicon atom is attached to one or several organic groups. Some of the most common siloxanes are dodecamethylcyclohexasiloxane, decamethylcyclopentasiloxane, dodecamethylcyclohexasiloxane and polydimethylsiloxanes. On the other hand, silicones, also known as polysiloxanes, are polymers that are manufactured using repeated units of siloxanes. Owing to their advantageous properties such as flexibility, stability, permeability to gases, temperature stability, and resistance against heat, moisture, chemicals and ultraviolet radiation, silicones are extensively used in a wide range of industrial applications.
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Global Silicones & Siloxanes Market Drivers:
Silicone polymers as well as cyclic siloxanes are employed in the personal care industry as a solvent in the skincare and haircare products. Siloxanes are utilized in these products as they are odourless and cause no irritation to the skin. As the demand for personal care products is proliferating worldwide, the silicones and siloxanes market is growing at a healthy rate. In the food industry, siloxanes are used as an oil substitute for preparing low-calorie food products. Besides this, silicones and siloxanes find vast applications in other end-use industries such as electronics, chemical and automotive. Further, the expanding construction industry has led to infrastructural developments, specifically in the emerging regions, which in turn, has contributed to the overall growth of the market. Looking forward, the global siloxanes market is expected to reach a volume of 3.7 Million Tons by 2023, projecting a CAGR of nearly 6% during 2018-2023, whereas, the silicones market is projected to reach a volume of 2.8 Million Tons by 2023, registering a CAGR of around 5% during 2018-2023.
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- Based on type, the silicones market is segregated as elastomers, fluids, resins and gels. At present, elastomers represent the most popular type of silicones, accounting for the majority of the market share. As elastomers are stable and non-reactive in nature, they find applications in the manufacturing of food products, footwear, etc.
- The siloxanes market is bifurcated into linear and cyclic siloxanes. Currently, linear siloxanes hold the biggest market share. Linear siloxanes are majorly used as intermediates for the formulation of silicones. Additionally, dimethicone, is one of the forms of linear siloxanes, is utilised as a medication for treating skin concerns like dryness, itching and irritation.
- On the basis of application, silicones are majorly used for industrial applications as they can resist against high pressure, temperature and chemical reactions. Apart from industrial applications, silicones are also employed in construction materials, home and personal care, transportation, energy, healthcare and electronics. On the other hand, a majority of the siloxanes are utilised in the production of silicones, followed by others applications.
- Region-wise, the market has been segmented as Asia Pacific, Europe, North America, Central and South America, and Middle East and Africa. Amongst these, Asia Pacific dominates the silicones and siloxanes market due to flourishing construction as well as automotive industries in the region.
- The competitive landscape of the market has also been examined with some of the key players operating in the market being Dow Corning, Momentive, Wacker Chemie AG, Shin-Etsu Chemical Co. Ltd., and Elkem (Bluestar).
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