Rising Applications in Construction Industry to Steer Silicones Market’s Growth, Observes TMR – iCrowdNewswire
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Sep 13, 2019 9:00 AM ET

Rising Applications in Construction Industry to Steer Silicones Market’s Growth, Observes TMR


Rising Applications in Construction Industry to Steer Silicones Market’s Growth, Observes TMR

iCrowd Newswire - Sep 13, 2019

ALBANY, New York, September 13, 2019-With the rising popularity of green materials, silicone is extensively used in the construction industry as an energy-efficient material. Manufacturers in the global silicones market are likely to bank on the opportunity created by a high demand for liquid silicone rubber. They are also tapping into the opportune potential of the automotive industry as it highly demands light-weight materials. Silicone’s thermal stability and high resistance to UV radiation make it an ideal material for various industrial applications. On account of these factors the global silicones market is anticipated to show an upward trajectory during the forecast period of 2018-2026, states Transparency Market Research.

 

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Silicones Market to Rise at a Moderate 5% CAGR

 

According to TMR’s study, the silicones market is anticipated to progress at a moderate but steady 5% CAGR. The market is expected to rise from its historical valuation of US$ 13,700 Mn in 2017 to reach the value of US$ 22,000 Mn by the end of 2026.

 

Rising demand from the transportation industry is expected to present a lucrative opportunity for the silicones market’s growth states TMR. It accounted for approximately 10% of the market’s share in 2017. Silicones are widely used in manufacturing ignition coils, gaskets, airbags, seals, and other components. It has gained immense popularity across all the transportation sectors including aviation, automotive, and marine.

 

The challenges associated with meeting the environmental regulations may act as stumbling blocks in the market. Market players often put a halt to the production during government investigation and resume it once it’s done. This may create a shortage of materials that eventually results in raised prices. Nonetheless, the production of green silicone materials may help manufacturers overcome these challenges.

 

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Asia Pacific to be the Highest Revenue Contributor to the Silicones Market

 

Asia Pacific is expected to be the most lucrative region for silicones market’s growth. The market’s growth in this region is driven by the rise in the production of electronic goods. Numerous countries in this region are the leading exporters of electronic goods. China has made the highest contribution to the market’s growth in this region as it is a leading exporter of Information and Communication Technology goods.

 

The booming automobile industry in Asia Pacific has also been instrumental in the market’s growth. It is mainly because of the largescale production of automobiles in China and India. The migration of components to electronic solutions has further supported the silicones market’s growth in this region.

 

The market in Europe is driven by the expanding automotive industry in France, UK, and Germany. It is the second-largest region for the silicones market’s growth after Asia Pacific.

 

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Use of Silicone as an Apt Substitute for Plastics to Drive Growth

 

Silicone is not only durable but is more ocean-friendly as compared to plastics. Moreover, it does pose any threat to the organisms in soil or water. As a result, it is highly preferred over plastics and act as an apt substitute for it. The use of silicone in as sculptor materials to reproduce original sculptors has also provided a thrust to the global silicones market’s expansion.

 

Furthermore, rising demand for green chemicals and the need to reduce carbon emissions has strengthened the market’s position across the globe. Additionally, an increase in production of silicone-based devices for the healthcare industry and the use of silicone in packaging and food and beverages industries has fostered silicones market’s growth.

 

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The study presented here is based on a report by Transparency Market Research (TMR), titled, “Silicones Market (Form – Fluids, Elastomers, Resins; Application – Rubber, Coatings, Emulsions, Sealants; End use Industry – Consumer Goods, Construction and Architecture, Transportation, Energy, Electrical and Electronics, Paper, Textiles) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”

 

The global silicones market is segmented based on:

 

Form

 

 

Application

 

 

End-user Industry

 

 

Region

 

 

 

 

 

 

About Us

 

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

 

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

 

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

 

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Transparency Market Research

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USA – Canada Toll Free: 866-552-3453

Email: [email protected]

Website: http://www.transparencymarketresearch.com



Contact Information:

Transparency Market Research

State Tower,

90 State Street,

Suite 700

Albany NY - 12207United States

USA - Canada Toll Free: 866-552-3453

Email: [email protected]

Website: http://www.transparencymarketresearch.com






Keywords:    Silicones Market, Silicones Market Size, Silicones Market Share, Silicones Market Trends, Silicones Market Growth, Silicones Market Revenue, Silicones Market Research

Tags:    Research Newswire, English