The global silicones market reached a volume of more than 2 Million Metric Tons in 2017. The market is further projected to reach a volume of 3 Million Metric Tons by 2023, at a CAGR of 5% during 2018-2023. 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.
Global Silicones Market Drivers:
- Silicone does not cause skin irritations and has a smooth feel, low surface tension and anti-foaming properties. On account of this, silicone polymers are incorporated in personal care products, deodorants, and make-up items. Increasing demand for cosmetics across the globe is fostering the growth of the silicones market.
- As silicone-based materials, such as sealants, adhesives and protective coatings, are strong, durable, and weather resistant, they are widely used in construction activities. Apart from this, they are also used in the manufacturing of polyurethane foam which provides insulation and increases the energy-efficiency of buildings. With rising infrastructural development and growing construction industry, the demand for silicones is augmenting at a rapid pace.
- Earlier, the consumption of silicone products was largely confined to the Western countries. However, the Asia Pacific region now consumes more than a half of the silicones in the world with China being the dominant consumer. The increasing production of silicones in the Asian and Middle Eastern countries along with economic growth, expanding middle class population, rapid urbanization and rising consumption of end-products containing silicones, are expected to catalyze the market growth.
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.
Key Questions Answered in This Report:
- How has the global silicones market performed so far and how will it perform in the coming years?
- What are the key regions in the global silicones market?
- Which are the popular product types in the global silicones market?
- What are the key application segments in the global silicones market?
- What are the price trends of silicones?
- What are the various stages in the value chain of the global silicones market?
- What are the key driving factors and challenges in the global silicones market?
- What is the structure of the global silicones market and who are the key players?
- What is the degree of competition in the global silicones market?
- How are silicones manufactured?