Silicones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
Silicones, also known as polysiloxanes, are polymeric synthetic materials which are formulated from inorganic-organic monomers. They are bonded through hydrogen and carbon atoms and are usually rubber-like and heat resistant. Silicones are increasingly being used in various applications due to their ideal properties such as resistance to ozone and UV light, low chemical reactivity, non-stickiness, light weight, high permeability for gases, thermal stability, etc. According to IMARC Group’s latest report, titled “Silicones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global silicones market reached a volume of around 2.05 Million Metric Tons in 2017.
Due to its properties like excellent waterproofing and good moisture resistance, the applications of the silicones in the constuction industry are rising. This represents the major contributor toward the market growth. Further, silicones’ wide array of commercial applications, ranging from lubricating greases to electrical-wire insulation and biomedical implants such as breast implants, majorly drive the silicones market. Moreover, silicones help in improving the energy-efficiency in renewable energy technologies such as wind turbines and solar panels. This is projected to expand their applications in the coming years. Looking forward, the market is expected to grow at a CAGR of 5.15% during 2018-2023, reaching a volume of 3 Million Metric Tons by 2023.
The report has segmented the market on the basis of type into elastomers, fluids, gels and resins. Among these, elastomers are the most popular product type. Based on application, the market is segregated into industrial processes, construction materials, home and personal care, transportation and energy. Currently, industrial processes represent the largest application segment. On a regional-basis, the report covers Asia-Pacific, Europe, North America, Latin America and Middle East and Africa, wherein Asia Pacific accounts for the majority of the global market share. The report has also analysed the competitive landscape of the market with some of the key players being Dow, Wacker, ShinEtsu, Momentive and Elkem.
This report provides a deep insight into the global silicones market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the silicones industry in any manner.
Key Questions Answered in This Report:
How has the global silicones market performed so far and how will it perform in the coming years? What are the key regions in the global silicones market? What are the key application segments in the global silicones market? Which are the popular product types in the global silicones market? What are the various stages in the value chain of the global silicones market? What are the key driving factors and challenges in the global silicones market? What is the structure of the global silicones market and who are the key players? What is the degree of competition in the global silicones market? How are silicones manufactured?