According to the latest report by IMARC Group, titled “Silicones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global silicones market size reached 2.2 Million Metric Tons in 2019. Silicones, or polysiloxanes, are polymeric, synthetic materials that are formulated from siloxanes. They are odorless, water repellent, resistant to chemical attack, and have high oxidation and temperature stability. Owing to these properties, they are widely used in lubricant oils, greases and biomedical implants. As silicones help fabrics retain their shape and texture, as well as provide resistance to abrasion, they are also being used to design sportswear that is lightweight, durable, water repellent and high performing.
Global Silicones Market Trends:
Over the years, there has been an increase in the usage of silicones for the production of sealants, thermal and electrical insulation, and adhesives owing to their rubber-like quality and heat-resistant nature. Besides this, silicone polymers are non-greasy, do not cause skin irritation and have low surface tension, smooth feel, and anti-foaming properties. As a result, they are incorporated in personal care products and cosmetics, such as sun care products, antiperspirants, creams and conditioners. As compared to their petrochemical-based counterparts, products manufactured using silicones generate less carbon dioxide, along with other greenhouse gases. This has, in turn, augmented their demand from numerous end use industries, such as electronics, paints, construction and food. Some of the factors that have positively influenced the growth of the market include increasing infrastructure development, along with the expansion of production facilities in emerging markets. Looking forward, the market volume is projected to reach 2.9 Million Metric Tons by 2025, expanding at a CAGR of 4.8% during 2020-2025.
Market Summary:
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