Silicones are versatile and unique polymers because addition of different compounds and molecules to the main structure improve or alter the original properties. They are used with chemicals and materials often without generating undesired odor or byproduct. Moreover, they retain their fundamental chemical as well as physical properties when exposed to extreme environment condition and temperature. They are widely utilized in various end-use applications such as automotive & transportation, building & construction, medical & healthcare, industrial process, personal care & consumer products, and others on account of their superior properties such as resistance to UV and IR radiation, strong water repellency, and extremely strong adhesion qualities.
disposable income along with rising consumption of personal care.
The major players operating in the silicones market include Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Momentive (U.S.), Elkem Silicones (Norway), Evonik Industries (Germany), KCC Corporation (South Korea), GELEST, INC. (U.S.), NuSil Technology LLC (U.S.), Specialty Silicone Products, Inc. (U.S.), Saint-Gobain Performance Plastics (France), and BASF SE (Germany) among others.
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Some of the prominent factors that positively influence the growth of the silicones market are increasing per capita disposable income, improved living standards, and rapid industrialization. Moreover, continuous growth of the building & construction industry in the developing countries worldwide is estimated to propel the market over the assessment period. Huge investment in the ongoing innovation and research & development projects by the major key operational players and high adoption rate within the end use industries are set to influence silicones demand positively. Furthermore, coatings and adhesives made from silicones provide excellent durability and better performance, which make them suitable for utilization in automotive and construction industries. However, volatility in raw material prices is estimated to hinder the growth of the market.
Globally, silicones market is categorized on the basis of type and application. On the basis of the type, the market is categorized into resins, fluids, gels, and elastomer. Silicone elastomer can be further segmented into liquid silicone rubber, high temperature vulcanized silicone elastomers, and room temperature vulcanized silicone elastomers. Silicone fluids are further bifurcated into straight silicone fluid and modified silicone fluid. Silicone resins can be segmented into methyl silicone resin, phenyl silicone resin, and silicone combination resin. Among them, the elastomer accounted for the largest market share in 2016 on account of rising use of this elastomer in the automotive & transportation and construction industries. On the basis of the application, the market is segmented into building & construction, personal care & consumer products, automotive & transportation, medical & healthcare, industrial process, and others. Other application include, electrical & electronics, paper, textile, and energy. Among these, automotive & transportation is estimated to grow at a significant CAGR due to increasing automotive production and sales along with increasing use of silicone in the manufacturing of automotive components.
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The global silicones market is categorized into five regions, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among them, Asia Pacific region is estimated to grow with the highest CAGR during the forecast period, (2017 to 2023) on account of the expansion of various end-use industries such as automotive & transportation, personal care, and building & construction among others. The demand for silicones is predicted to surge in the numerous countries of the Asia Pacific such as China, India, Bangladesh, Singapore, Japan, Thailand, South Korea, and Malaysia due to the approval of large-scale industrial, residential, as well as commercial building & construction projects. Furthermore, growing number of working professionals coupled with increasing disposable income in emerging nations has presented an opportunity to spend on personal care products, which, in turn, is estimated to propel the growth of the market. Additionally, high economic growth, inexpensive raw material, labor & land cost, and shifting manufacturer base in this region are important factors for the regional market growth.
The Asia Pacific emerged as the largest silicones market in 2016, which is further followed by Europe and North America. North America is estimated to witness an above-average growth in silicones market on account of increasing demand from healthcare sector along with the continuous growth of the medical sector in this region. The U.S. accounted for the largest regional market share in 2016 followed by Canada due to rising demand for personal care and consumer goods. In Europe, countries such as Germany, the U.K, Italy, France, Russia, and Spain are among the leading market contributors and is estimated to retain their dominance due to the robust automobile manufacturing base along with high adoption rate among various end-use industries. In Latin American countries such as Mexico and Brazil are predicted to hold the major regional market share due to rising automotive production along with the involvement of new business models. The Middle East & Africa is predicted to register a moderate growth during the review period on account of rising building & construction activities specifically in Qatar, Turkey, Saudi Arabia, the United Arab Emirates, and Kuwait.
The report covers brief analysis of geographical regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
- Silicones manufacturers
- Traders and Distributors of Silicones
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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