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Organosilicon Polymers Polysiloxane Market – Overview
The Organosilicon Polymers Polysiloxane Market is projected to register a CAGR of around 4.28% to reach USD 2,201.24 million by 2028.
Organosilicon polymers composites are organometallic compounds that contain the carbon-silicon bond. Generally, the organosilicon compounds are like ordinary organic compounds and display similar characteristics: flammable, colorless, stable to air, and hydrophobic. For instance, silicone is a polymeric organosilicon compound that is thermally stable and chemically inert. The polysiloxane polymer compound has more than one organic group connected with a silicon atom which helps to offer better thermal oxidation stability, electrical properties, and weather resistance.
The prominent factor favoring the growth of Theorganosilicon Polymers (Polysiloxane) Market is the demand from application in the construction sector and from the growing automotive industry, which is opting for cleaner and greener material sources owing to the stringent regulations on emission, especially from the US, EU countries, China, India, and other Southeast Asian countries. They are also used extensively in applying coatings for protective and industrial purposes. These compounds are also extensively used as fire retardants in various materials.
Silicone compounds are extensively used in the automotive industry. The need for greener and eco-friendly materials in the automotive and transportation sector is expected to create significant traction for the market demand. The regulations towards eco-friendly materials and awareness of environmental pollution are expected to gain significant traction for the Organosilicon Polymers (Polysiloxane) Market in the coming years. Additionally, the production and sales increase of passenger cars, tiny passenger cars such as subcompacts, microcars, and superminis, are significantly high and account for over 33% of total vehicles sold in 2019.
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The Organosilicon Polymers (Polysiloxane) Market has been segmented based on Product Type, Application, and Region.
By Product Type, the Organosilicon Polymers Polysiloxane Market has been segmented into silicone oil, silicone rubber, silicone resin, and silicone emulsion. The silicone rubber segment accounted for the largest market share in 2020 due to its wide use in the automotive sector. It is aimed to reduce the carbon footprint from various parts.
Based on the Application, the Organosilicon Polymers (Polysiloxane) Market has been categorized into coatings, elastomers, foams, adhesives & sealants, and others. The coatings segment emerged as the fastest-growing segment during the review period.
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The Organosilicon Polymers (Polysiloxane) Market has been studied across Asia-Pacific, North America, Europe, Latin America, and theMiddle East & Africa. Asia-Pacific accounted for more than 40% of the Organosilicon Polymers (Polysiloxane) Market Share in 2020. The players operating in the Asia-Pacific region embrace numerous business strategies, including R&D, expansions, new product launches, joint ventures, acquisitions, and agreements to fortify their presence in the market.
The market growth in Europe can be attributed to the stringent emission control regulations in Western Europe and the increasing automotive and construction in the region.
The USA has one of the largest automotive markets. According to the US Department of Commerce, International Trade Administration (ITA), in 2020, the light vehicle sales were over 22 million units 2020. Additionally, the growing demand for silicone oil in the construction sector is expected to increase the demand for Organosilicon Polymers (Polysiloxane) Market in the coming years.
BASF SE, Dow, Huntsman International, DIC Corporation, LANXESS, and Mitsui Chemicals are the prominent players operating in the Organosilicon Polymers Polysiloxane Market. These players account for a significant share of the global market due to their industry experience, global revenue base, comprehensive product portfolio, and distribution network worldwide.
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