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The global silicones market reached a value of US$ 15.1 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Silicones, also known as polysiloxanes, refer to polymeric synthetic materials which are formulated from inorganic-organic monomers. Due to their molecular structure, silicones can be manufactured in several forms such as oil, solid, rubber, liquid, grease or semi-viscous paste. They are generally manufactured by first reacting silicon with methyl chloride and then with water. This reaction results in the production of polymers with advantageous properties such as flexibility, and resistance to moisture, chemicals, UV rays, and both high and low temperatures. As a result, silicones find diverse applications ranging from use in pressure sensitive adhesives to protection of electronic devices from extreme temperatures and contamination.
IMARC Group provides an analysis of the key trends in each sub-segment of the global silicones market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on product type, application and region.
Breakup by Product Type:
On the basis of product types, the global silicones market is divided into elastomers, fluids, gels and resins. At present, elastomers represent the most popular type of silicones as they are generally stable and non-reactive in nature. They find diverse applications in cooking, baking and footwear manufacturing.
Breakup by Application:
Based on applications, the market is segregated into industrial processes, construction materials, home and personal care products, transportation, energy, healthcare, electronics, and others. As silicones are resistant to high pressure, temperature and chemicals, they majorly find applications in industrial processes.
On a geographical front, Asia Pacific enjoys the leading position in the global silicones market. Rising construction and automotive industries are propelling the demand for silicones in the region. Other regions include North America, Europe, Latin America, and Middle East and Africa.
The market is concentrated in nature with the presence of a few manufacturers who compete against one another in terms of prices and quality. Some of these key players include:
This report provides a deep insight into the global silicones market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the silicones market in any manner.
The global silicones market was valued at US$ 15.1 Billion in 2020.
Extensive utilization of silicone-based materials, such as sealants, adhesives, and protective coatings, in numerous construction activities based on its strong, durable, and weather resistant properties, is one of key factors catalyzing the global silicones market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary shutdown of numerous end use industries for silicones.
Based on the product type, the global silicones market has been bifurcated into elastomers, fluids, gels, and resins. Among these, elastomers currently hold the largest market share.
Based on the application, the global silicones market can be segmented into industrial processes, construction materials, home and personal care products, transportation, energy, healthcare, electronics, and others. Currently, industrial processes represent the largest segment.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global silicones market include DOW, Elkem, ShinEtsu, WACKER, and Momentive.
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