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Global Silicone Market Projected to Reach USD 20.3 Billion by 2020, MarketsandMarkets

Published on 2015-09-28. Author : SpecialChem

This report "Silicone Market by Type (Elastomers, Fluids, Resins, Gels & Other Products) by Application (Building & Construction, Chemical Industry, Medical & Personal Care, Automotive & Transportation, Plastics, Electrical & Electronics, Textile, Paper, Others) & by Region - Global Trends & Forecasts to 2020", defines and segments the silicone market with an analysis and global forecast of the market size. The global silicone market size, in terms of value, is projected to reach USD 20.3 Billion by 2020.

Fig. 1: MarketsandMarkets

Asia-Pacific – The biggest market for silicones

Asia-Pacific dominates the global silicone market, and it accounted for a share of more than 40.0% of the total market size, in terms of volume, in 2014. Continuous product developments by the participant companies are increasing the market applications base for silicone, thereby boosting the consumption in the region. The silicone market growth is due to the increasing applicability of silicone in the building & construction application segment in Asia-Pacific.

The industrial developments in Asia-Pacific are driving the demand of various silicone materials used in this segment. Despite some production capacities present in developing countries, such as China and India, these capacities have proved to be more export-oriented than in the favor promoting domestic growth for the silicone market. China accounts for a significant market share in the global silicone market; however, increasing raw material prices restricts this market’s growth.

Building & construction and silicone elastomer – the fastest-growing application and type of the silicone market, respectively

The building & construction application is the fastest-growing end-use industry of silicones. Asia-Pacific and Europe are currently the largest markets of silicones for the building & construction application that accounted for a share of about 40.2% and 29.5% of the total market size in 2014. Silicone elastomers are used widely in the building & construction industry as silicone sealants for weatherproofing materials and enable innovative applications. Since structural silicone sealants have the long-term adhesion, compatibility, and strength required for structural glazing and protective glazing applications, they are used in making sheet glass skyscrapers.

Silicones are inherently waterproof, and they provide greater UV stability, temperature and weather resistance than organic materials, and because they last longer, they can be replaced less often reducing lifetime costs and contributing to sustainability.

Dow Corning Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co. Ltd. (Japan), Bluestar Silicones (France), and others recently invested in expansions, joint ventures, agreements, partnerships, and merger & acquisition of small players to dominate the silicone market.

To meet this growing demand, key manufacturers from Asia-pacific and Europe are now focusing on the North American market. The demand for silicone in this region is projected to register a CAGR of 6.8% by volume between 2015 and 2020.

About MarketsandMarkets

MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

Source: MarketsandMarkets

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