Increasing global investment in physical infrastructure is propelling the demand of Silicone Derivative in global market. Silicone is the second most abundant element found in the earth crust, thereby, making Silicon Derivatives massively penetrated into numerous end use industries such as building & construction, automotive, chemicals, energy, electronics and personal care among others. Its availability and biodegradability can fuel the demand of silicone derivatives in coming years. Emerging economies from Asia Pacific and other regions are increasingly focusing over infrastructural developments. Apart from that, new trends of electronic vehicles and digitization in the world are posing as new opportunities in the Global Silicone Derivatives Market.
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After Paris Agreement, which compel countries to cut the carbon emission, both developed and developing countries embarked upon development of renewable energy. Silicone Derivatives are steadily penetrating their way into renewable energy sector, especially in solar energy. These trends are responsible for maximum pull in demand of silicone derivatives throughout the forecast period. In addition, Silicone Derivatives are used in personal care, pharmaceuticals, and food & beverages, which are ever growing streams. Collectively, all these trends are expected to propel growth of the Global Silicone Derivatives Market. During the forecast period the Global Silicone Derivative Market is projected to grow approximately at CAGR of 6%.
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Global Silicone Derivative Market has been segmented into type, applications, and region. On the basis of type the market is divided into Silicon Dioxide (Silica), Silicon Carbide, Silicate, Silicon Nitride, and others. Among them Silicone Dioxide is the leader in terms of total demand of Silicone Derivatives. Around 95% silica produced is consumed in construction activities for production of Portland cement. High melting point of silica enable its use in industrial applications such as sand casting for metallic components. The increasing standard of living enabling people to use high end products such as glass and ceramics in building their houses. This is expected to push the demand of silica in making glass and ceramics. Silica is also used as a key ingredient in food & beverages industries due to its colloidal hydrophilic properties. During the forecast period, demand of Silicone Dioxide is estimated to increase exponentially, which would fuel the growth of Global Silicone Derivative Market. After silica, silicon carbide is the second most important type of Silicone Derivative. Silicon carbide is majorly used as an abrasive due to its higher durability and lower cost. In addition to increasing usage of silicon carbide in automobile as high performance ceramic disc brakes are expected to propel the demand of silicone in coming years. Silicon Nitride is used as a building material for automobile parts such as diesel engine, glow plugs, ceramics bearings and turbocharger. Moreover, expanding usage of silicone derivatives in electronics as insulators, heat resistors, and dielectric material in capacitors is estimated to drive the demand of Silicone Derivatives further.
Based on application the Global Silicone Derivative Market is segmented into building & construction, automobile, electronics, energy, chemical, personal care, and others. Building & construction industry is the leading segment in terms of its share in the global demand of Silicone Derivatives. The products, such as, glass, Portland cement, and ceramics need Silicone Derivative as a key components. The increasing use of these products may lead to the demand of Silicone Derivatives in coming years. Followed by building & construction, automobile is the second important segment which pull the significant share of demand of Silicone Derivatives. Starting from electronic embedded system to machine parts, silicone derivatives are extensively used in automotive industry. Silicone Derivatives also find their applications as a material for making abrasives and cutting tools. Apart from that use of various Silicone Derivatives as an elastomers, sealants, and adhesives make them versatile in nature.
The major regions in Global Silicone Derivative Market are Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific is holding the major share of Global Silicone Market in terms of size. It is the fastest growing region with largest market size in the Global Silicone Derivative Market. Asia Pacific accounts for around 40% of total market share as of 2016. China and India are the major shareholders of Silicone Derivative Market in the region. The focus of emerging countries in this region is heavily concentrated on infrastructural developments, which is the primary driver of growth of regional Silicon Derivative Market. Along with that the higher demand of automobile from this region is projected to pull the maximum demand of silicone derivatives in making automotive parts. The energy intensive countries such as India, China, and Japan in this region are swiftly taking up renewable energy options, especially solar energy. As silicone is the most preferred adhesive in solar panels, shift of trend from nonconventional energy sources to conventional ones, is poised to boost growth of Silicone Derivative Market. Europe and Asia Pacific together account for nearly 70% of Global Silicone Derivative Market size. Automobile segment is the main driver of demand of silicone derivative in this region. The countries namely Germany, France, U.K., and Italy, where an automobile industry is well established, are the major markets in this region. Advent of electronic vehicles is expected to be the main driver of growth of regional Silicone Derivative Market over the forecast period. North America is also a substantial region in Global Silicone Derivative Market. U.S is the main market in this region. Automotive and construction segments are the main drivers of demand of Silicone Derivative in this region. Other important regions in the Global Silicone Derivatives Market are Latin America and Middle East & Africa. Among them Latin America is the fastest growing region. The emergence of end use industries in the countries namely Brazil and Argentina would be the main driver of silicone derivative market in this region. Middle East & Africa is projected to join the mainstream market with its vast potential in renewable energy sector.