The new report by Expert Market Research titled, ‘Asia Pacific Silicones Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the Asia Pacific silicones market, assessing the market based on its segments like Type, Application, Segment, and Regional markets among others. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 4.8%
• Forecast Market Size (2026): 2.2 million metric tons
Growing incidence of cardiovascular disorders, rising prevalence of osteoporosis, and rising demand for minimally invasive treatment are expected to aid market growth during the forecast period, whereas rising geriatric population and rising demand for cosmetic and plastic surgeries are expected to fuel market growth. Cheap labour, greater raw material availability, and more market penetration opportunities in end-use businesses such as building and construction, transportation, personal care and consumer products, industrial process, electronics, medical and healthcare, energy, and others were key factors driving the shift of production facilities. Due to cheap production costs and openness to the electronics and automotive sectors, India and China are expected to retain their positions as key manufacturing centres. Technology advancements such as CAD/CAM dentistry for improving dental restoration may open up attractive market potential. However, market restraints include rigorous regulatory standards and changing raw material prices, while increased preference for thermoplastic elastomers is expected to provide a threat to the medical grade silicone industry.
Industry Definition and Major Segments
Silicones are polymers made up of repeated siloxane units or chains of silicon and oxygen atoms. It has features like water resistance, tensile strength, high binding capacity, and transparency, among others, due to its molecular structure. It is suited for high temperature and high voltage power production applications due to the strong bonding between oxygen and silicon atoms. Furthermore, silicone grease is commonly utilised in gas-insulated switchgear flange connections. Silicone grease is a semifluid consisting of a thickening agent dispersed in a liquid lubricant. It protects against corrosion and, as a result, SF6 gas leakage.
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On the basis of Type, the Asia Pacific Silicones market is segmented into:
Based on Application, the Asia Pacific Silicones market is categorised as:
• Industrial Process
• Construction Materials
• Home and Personal Care
On the basis of Segment, the Asia Pacific Silicones market is divided into:
The major regional markets of the Asia Pacific Silicones market are:
• South East Asia
During the forecast period, Asia-Pacific is estimated to lead all regional markets. The market is expected to develop due to a rising electronics sector and improved living standards in India, Japan, Korea, China, and Taiwan. Due to the increase in prices, the Asia-Pacific silicones market is expected to continue its growth the fastest. Manufacturing of lower-value items would shift to India and Southeast Asia, while China produces more high-value goods. Silicones’ main markets would include construction, electronics, medical/personal care, and transportation. Greater uses for liquid silicone rubber would fuel development in the medical section, while adhesives would drive growth in the building industry. Silicones are also imported in large quantities from China. Domestic demand consumes a greater proportion of the country’s silicone production. Despite rising demand in China, most Chinese silicones consumers choose to purchase from international rather than domestic suppliers. This is owing to China’s industry’s slower technical advancement. China, on the other hand, has the means for future innovation.
Key Market Players
The major players in the market are Elkem Silicones, Dow Chemical Company, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd, Evonik Industries AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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