The new report by Expert Market Research titled, ‘Global Silicones Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global silicones market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): 6.7 Million Metric Tons (Production Volume)
• Forecast CAGR (2020-2025): 5% (Demand)
• Forecast Market Size (2025): 4 Million Metric Tons (Demand)
The rising demand for cosmetics globally is enabling the silicones market to expand. Because silicone-based materials, such as sealants, adhesives, and protective coatings, are solid, durable, and resistant to weather, they are widely used in construction activities. Besides this, they are also used in the manufacturing of polyurethane foam that provides insulation and improves the buildings’ energy-efficiency. The demand for silicones is increasing at a rapid pace with rising infrastructural growth and growing construction industry. The use of silicone goods had previously been largely limited to Western countries. However, the Asia Pacific region now absorbs over half of the world’s silicones, with China as the leading producer.
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Industry Definition and Major Segments
Silicones, also known as polysiloxanes, refer to synthetic polymeric products that are manufactured from inorganic monomers. Because of its molecular structure, silicones may be formed in various forms such as wax, solid, rubber, liquid, grease, or semi-viscous paste. Generally, they are formed by first reacting with methyl chloride and then with water.
On the basis of types, the industry is divided into:
Based on applications, the market is segmented into:
• Industrial Process
• Construction Materials
• Home and Personal Care
The regional markets for silicones include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Due to their rubber-like consistency and heat-resistant nature, the use of silicones for the manufacture of sealants, thermal and electrical insulation, and adhesives have increased over time. In addition to this, silicone polymers are non-greasy, do not cause skin irritation and have low surface tension, and have a smooth feel and anti-foaming properties. Products produced using silicones produce less carbon dioxide, along with other greenhouse gases, than their counterparts based on petrochemicals. These factors are leading to its rising demand from its application segments. Some of the factors that have positively affected the market growth include accelerated development of infrastructure and the expansion of production facilities in emerging markets.
Key Market Players
The major players in the market are Elkem Silicones, Dow Chemical Company, Wacker Chemie AG (ETR: WCH), Shin-Etsu Chemical Co., Ltd. (TYO: 4063), and Ferroglobe PLC (NASDAQ: GSM), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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