Global Silicones Market – Overview
- The report will cover the overall analysis and insights in relation to the size and growth rate of the “Global Silicones Market ” by various segments at a global and regional level for the 2014-2027 period, with 2014-2019 as historical data, 2020 as a base year, 2021 as an estimated year and 2021-2027 as forecast period.
Global Silicones Market – Introduction
- Silicones belong to the family of polymers, which comprises of siloxanes and silanes that are derived from pure silicon. They are produced by the reduction of silicon dioxide (silica) in the form of sand with carbon at high temperatures. Silicones are produced in three steps: synthesis of chlorosilanes, hydrolysis of chlorosilanes, and condensation polymerization. They exhibit excellent properties such as superior weathering and aging resistance, thermo stability, high water repellency, chemical resistance, strong electrical insulation, and super anti-foaming properties, which make them suitable for utilization in numerous end-use applications such as personal care & consumer products, automotive & transportation, building & construction, medical & healthcare, industrial process, and others.
- As per our analysis, some of the important market factors and trends identified in the global silicones market include rapid urbanization, technological advancement, and continuous growth of medical & healthcare sector. Moreover, increasing use of silicones in the manufacturing of high-performance OEM along with rising automotive production and sales in emerging economies is predicted to fuel the growth of the market during the assessment period. Implementation of new emission regulation by many developed countries along with shifting automotive manufacturers on the utilization of lightweight material is estimated to drive the growth of the market. Growing commercial, as well as institutional construction activities in the developing countries coupled with the continuous expansion of building & construction industry, is predicted to propel the demand for these polymers. Furthermore, increasing disposable income along with rising use of personal care products such as lotions, cleansers, and conditioners are estimated to drive the market growth over the estimated period. However, fluctuating raw material price along with high energy price is expected to hamper the growth of the market.
Global Silicones Market Report Scope
- The scope of the report covers the clear understanding and overview of the product.
- Analysis of market trends in the region, with market data considering 2020 as the base year, 2021 as the estimate year and forecast for 2027 with projection of CAGR from 2021 to 2027.
- The report covers discussion of economic trends and technology.
- Market estimates represent revenue.
- In-depth analysis of the market segmentation assists in determining the prevailing market scope.
|Market size available for years||2014–2027|
|Base year considered||2020|
|Forecast units||Value (USD) & Volume (Million Units)|
|Forecast units||Value (USD) & Volume (Million Units)|
North America, Europe, Asia Pacific, Latin America and Middle East & Africa
United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Indonesia, Malaysia, Switzerland, Australia, India, Italy, Sweden, Spain, Belgium, Netherlands, Norway, Brazil, Argentina, Mexico, South Africa and 54 Others.
Elastomers, Fluids, Resins, Gels and Other
Industrial Process, Building & Construction, Transportation, Personal Care & Consumer Products, Medical & Healthcare, Electronics, Energy and Others (agriculture, packaging, textile, sporting goods, and aquaculture)
|Companies covered||Arkema Group; Ashland Global Holdings, Inc.; BASF SE; CHT Germany GmbH; Compagnie De Saint-Gobain SA; CSL Silicones Inc.; DowDupont Inc.; Emerald Performance Materials LLC; Elkem ASA; Evonik Industries AG; Gelest Inc., Kaneka Corporation; KCC Corporation, Milliken Chemical; Momentive; NuSil Technology LLC; Innospec Inc.; Primasil Silicones Limited; Reiss Manufacturing Inc.; Rogers Corporation; Shin-Etsu Chemical Co., Ltd.; Siltech Corporation; Silteq Ltd.; Specialty Silicone Products, Inc.; Wacker Chemie AG; Zhejiang Xin’an Chemical Group Co., Ltd. and Others.|
Segments Covered in Global Silicones Market
- The global silicones market is categorized on the basis of type, application, and regions. On the basis of the type, the market is segmented into resins, fluids, gels, and elastomer. On the basis of the application, the market is classified as building & construction, personal care & consumer products, automotive & transportation, medical & healthcare, industrial process, and others. Other application include, electrical & electronics, paper, textile, and energy. On the basis of the regions, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Covid-19 Impact on the Global Silicones Market
- The global silicone market includes major Tier I and II suppliers like The Dow Chemical Company (US), Wacker Chemie AG(Germany), Shin-Etsu Chemical Co. Ltd., (Japan), Elkem ASA (Norway), Momentive (US), KCC Corporation (South Korea). These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and Middle East & Africa. COVID-19 has impacted their businesses as well.
- These players have announced the suspension of production due to the lowered demand, supply chain bottlenecks, and to protect the safety of their employees in the US, France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for silicone is expected to decline in 2020. Manufacturers are likely to adjust production to prevent bottlenecks and plan production according to demand from tier 1 manufacturers.
Recent Developments in Global Silicones Market
- In September 2019, Wacker Chemie AG planned to expand its R&D activity in silicon-based materials for high-performance batteries and acquired a 25% stake in British specialist Nexeon Ltd.
- In May 2019, a group of South Korean companies (KCC Corp., Wonik QnC, and SJL Partners) completed the acquisition of Momentive Performance Materials for about USD 3.1 billion. This will give them a bigger presence in South Korea, leading to new opportunities with global manufacturers.
Key Market Players in Global Silicones Market
- The major players in the Global Silicones Market are Arkema Group; Ashland Global Holdings, Inc.; BASF SE; CHT Germany GmbH; Compagnie De Saint-Gobain SA; CSL Silicones Inc.; DowDupont Inc.; Emerald Performance Materials LLC; Elkem ASA; Evonik Industries AG; Gelest Inc., Kaneka Corporation; KCC Corporation, Milliken Chemical; Momentive; NuSil Technology LLC; Innospec Inc.; Primasil Silicones Limited; Reiss Manufacturing Inc.; Rogers Corporation; Shin-Etsu Chemical Co., Ltd.; Siltech Corporation; Silteq Ltd.; Specialty Silicone Products, Inc.; Wacker Chemie AG; Zhejiang Xin’an Chemical Group Co., Ltd. and others.
- Also, the Global Silicones Market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities
Objectives of the Global Silicones Market Study
- To provide detailed information regarding drivers, restraints, opportunities and challenges are influencing the growth in the Global Silicones Market.
- To analyze the competitive intelligence of players based on company profiles and their key growth strategies.
- To strategically analyze micro markets with respect to the individual growth trends, their prospects, and their contribution to the total Global Silicones Market.
- To analyze competitive developments such as expansions, and product launches, along with research & development (R&D) activities undertaken in the Global Silicones Market.
- A unique model is created customized for each study also offers suggestions that help enterprises to identify and mitigate risks.
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