Silicones market 2018 Industry Report provides detailed market segment level data on the international market. This market report addresses forecast and growth patterns by company, regions and type or application from 2018 to 2023. Besides this, report also consists of development trends, competitive landscape analysis, and development in key regions status.

Silicones Market Highlights

Silicones belong to the family of polymers, which comprises of siloxanes and silanes that are derived from pure silicon. They are produced by the reduction of silicon dioxide (silica) in the form of sand with carbon at high temperatures. Silicones are produced in three steps: synthesis of chlorosilanes, hydrolysis of chlorosilanes, and condensation polymerization. They exhibit excellent properties such as superior weathering and aging resistance, thermo stability, high water repellency, chemical resistance, strong electrical insulation, and super anti-foaming properties, which make them suitable for utilization in numerous end-use applications such as personal care & consumer products, automotive & transportation, building & construction, medical & healthcare, industrial process, and others.

As per our analysis, some of the important market factors and trends identified in the global silicones market include rapid urbanization, technological advancement, and continuous growth of medical & healthcare sector. Moreover, increasing use of silicones in the manufacturing of high-performance OEM along with rising automotive production and sales in emerging economies is predicted to fuel the growth of the market during the assessment period. Implementation of new emission regulation by many developed countries along with shifting automotive manufacturers on the utilization of lightweight material is estimated to drive the growth of the market. Growing commercial, as well as institutional construction activities in the developing countries coupled with the continuous expansion of building & construction industry, is predicted to propel the demand for these polymers. Furthermore, increasing disposable income along with rising use of personal care products such as lotions, cleansers, and conditioners are estimated to drive the market growth over the estimated period. However, fluctuating raw material price along with high energy price is expected to hamper the growth of the market.

Top Key Players

Some of the prominent players operating in the silicones market are Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Momentive (U.S.), Elkem Silicones (Norway), Evonik Industries (Germany), KCC Corporation (South Korea), GELEST, INC. (U.S.), NuSil Technology LLC (U.S.), Specialty Silicone Products, Inc. (U.S.), Saint-Gobain Performance Plastics (France), and BASF SE (Germany) among others.

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Market Segmentation

Globally, silicones market is categorized on the basis of type and application. On the basis of the type, the market is categorized into resins, fluids, gels, and elastomer. Silicone elastomer can be further segmented into liquid silicone rubber, high temperature vulcanized silicone elastomers, and room temperature vulcanized silicone elastomers. Silicone fluids are further bifurcated into straight silicone fluid and modified silicone fluid. Silicone resins can be segmented into methyl silicone resin, phenyl silicone resin, and silicone combination resin. Among them, the elastomer accounted for the largest market share in 2016 on account of rising use of this elastomer in the automotive & transportation and construction industries.

On the basis of the application, the market is segmented into building & construction, personal care & consumer products, automotive & transportation, medical & healthcare, industrial process, and others. Other application include, electrical & electronics, paper, textile, and energy. Among these, automotive & transportation is estimated to grow at a significant CAGR due to increasing automotive production and sales along with increasing use of silicone in the manufacturing of automotive components.

Regional Analysis

The Asia Pacific emerged as the largest silicones market in 2016, which is further followed by Europe and North America. North America is estimated to witness an above-average growth in silicones market on account of increasing demand from healthcare sector along with the continuous growth of the medical sector in this region. The U.S. accounted for the largest regional market share in 2016 followed by Canada due to rising demand for personal care and consumer goods. In Europe, countries such as Germany, the U.K, Italy, France, Russia, and Spain are among the leading market contributors and is estimated to retain their dominance due to the robust automobile manufacturing base along with high adoption rate among various end-use industries.

The global silicones market is categorized into five regions, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among them, Asia Pacific region is estimated to grow with the highest CAGR during the forecast period, (2017 to 2023) on account of the expansion of various end-use industries such as automotive & transportation, personal care, and building & construction among others. The demand for silicones is predicted to surge in the numerous countries of the Asia Pacific such as China, India, Bangladesh, Singapore, Japan, Thailand, South Korea, and Malaysia due to the approval of large-scale industrial, residential, as well as commercial building & construction projects. Furthermore, growing number of working professionals coupled with increasing disposable income in emerging nations has presented an opportunity to spend on personal care products, which, in turn, is estimated to propel the growth of the market. Additionally, high economic growth, inexpensive raw material, labor & land cost, and shifting manufacturer base in this region are important factors for the regional market growth.

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Intended Audience

• Silicones manufacturers
• Traders and Distributors of Silicones
• Production Process Industries
• Potential Investors
• Raw Material Suppliers
• Nationalized Laboratory