According to the latest report by IMARC Group, titled “Silicones and Siloxanes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global siloxanes market size reached US$ 8.8 Billion, while the global silicones market size reached US$ 15.1 Billion in 2020. Siloxanes are a class of chemical compounds composed of recurring silicon-oxygen (Si-O) bonds that occur in either linear or cyclic form. They are physiologically inert, highly stable and have lubricating properties. Dodecamethylcyclohexasiloxane, decamethylcyclopentasiloxane and polydimethylsiloxanes are some of the commonly used siloxanes. On the other hand, silicones are polymers produced using repeated units of siloxanes. They find application in a wide array of industries on account of their advantageous characteristics, such as resistance to moisture, flexibility, inertness, stability, and permeability to gases.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Silicones and Siloxanes Market Trends:
Cyclic siloxanes and silicone polymers find extensive application in the personal care sector as a solvent in make-up, deodorants, hair, and skin and sun care products. This, in confluence with the growing awareness about personal grooming, represents one of the key factors driving the market. Moreover, siloxanes are utilized as an oil-substitute for preparing low-calorie food products in the food and beverage (F&B) industry. Apart from this, silicones offer durable and weather- and ultraviolet (UV)-resistant seal with excellent adhesion, which are widely used in the production of construction materials and polyurethane foam for increasing building insulation and energy efficiency. Furthermore, the burgeoning construction industry and increasing infrastructural developments in various countries across the world are anticipated to propel the market growth. Looking forward, the global siloxanes market will expand at a CAGR of about 7.3%, whereas the silicones market will register a CAGR of around 7.7% during the forecast period (2021-2026).
- Based on the type, the silicones market has been classified into elastomers, fluids, resins, and gels. At present, elastomers hold the largest market share on account of their non-reactive nature. On the other hand, the linear segment dominates the siloxanes market, followed by the cyclic segment.
- On the basis of the application, the silicones market has been segregated into industrial applications, construction materials, transportation, energy, healthcare, electronics, home and personal care, and others. On the other hand, the siloxanes market has been divided into silicones and other applications. Presently, a significant part of siloxanes is used in the production of silicones.
- Region-wise, the silicones and siloxanes market has been divided into Asia Pacific, Europe, North America, Central and South America, and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being The Dow Chemical Company, Wacker Chemie AG, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., Ltd., and Elkem ASA
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