Silicone Market Size Is Expected To Surpass $20 Billion By 2022: Grand View Research,Inc.

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New Market Research Reports Title Global Silicone Market Analysis Size And Segment Forecasts To 2020 Has Been Added to Report Database.

Global silicone market size is estimated to exceed USD 20 billion by 2022 and is expected to witness a significant growth from 2015 to 2022. Rising demand for bio-based consumer durables and other equipment is anticipated to drive the demand for silicone-based products over the forecast period.

Silicone-based products have marked their presence in various industrial sectors, owing to their chemical stability and performance in harsh conditions. Its rubber form finds significant demand in electronics, automobiles, and healthcare products. Other end-use products include homecare, textiles, construction, and architecture.

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Owing to its enhanced insulation properties, it is specifically used in wire coating in electrical industry. Similar applications include technical wiring and component building in dialysis tubing, pacemaker leads and computers. Silicone polymers provide electrically insulating properties and facilitate the use of grease to lubricate electrical switches and cable joints.

Textile sector has witnessed various innovations in its production process. High speed manufacturing could cause overheating and poses risk of fiber melting and breakage. This is expected to instigate research on efficient materials to reduce friction and enhance plant efficacy.

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Lubricant form is expected to gain significance in textile sector owing to its heat stability and minimize adhesion of thermoplastic fiber to spinneret, thereby preventing risk of unstable production. Additional benefits include foam control, softening, lubrication, and hydrophobic coatings, thus enhancing fiber resilience to withstand multiple wash cycles.

Transportation equipment are under continuous exposure to physical and chemical attacks and require durable exteriors to minimize maintenance and repair costs. Silicone-based products are used in automotives, ocean vessels, and spacecrafts to increase exterior resilience towards harsh weather conditions.

While silicone rubber provides superior wear life and traction to the tires, coatings and adhesives enhance the components of transport equipment including airbags, vent ducts, and joints. Additional benefits include improved resistance to heat and cold, salt, abrasion, wind, rain, and ultraviolet radiation.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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