The worldwide silicone market size reached USD 15.53 Billion in 2020 and is expected to register a revenue CAGR of 6.8%, during the forecast period, according to latest analysis by Emergen Research. Silicone’s increasing use in fabrics, paper, leather wrapping, labels, and airbags is also expected to drive market growth during the forecast period. Silicone has been used as a solvent, adhesive, foaming agent, an anti-foaming agent in such applications. Silicones are used in a range of processes in textile mills, such as the producing of yarns and the final product. Silicones provides yarn or fabric lubrication, foam control, and softening.
The Global Silicone Market report provides vital information that prepares market players to give fierce competition to their toughest competitors based on growth, sales, and revenue, among other essential factors. The research study sheds light on the key growth opportunities and market trends along with other vital market dynamics, including the drivers and restraints on the industry growth. With this report, the prospective buyers can be sure to become capable of adapting to the changes in the silicone industry. The North American segment is estimated to contribute over 38 percent to the market’s incremental growth.
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The report offers a complete analysis of the global silicone market on a global and regional scale and offers a forecast for the market for 8 years. The report provides extensive coverage of the market drivers, restraints, limitations, growth prospects, threats, opportunities, and current and emerging trends in the market. This comprehensive study provides various aspects of business such as important definition, end use and total revenue generated across various regions.
Some Key Highlights From the Report
- Fluids segment revenue is expected to expand at a significantly rapid CAGR during the forecast period. increasing demand for cosmetic products is expected to boost demand, due to rise in spending capacity, increasing demand for personal care products, and increased use of silicones as an ingredient in coatings and adhesives.
- The market in Asia Pacific is expected to account for largest revenue share over the forecast period due to robust presence of key market players including Shin-Etsu Chemical Co., Ltd., KCC Corporation, and Elkay Chemicals Pvt. Ltd. are among others in countries in the region.
- Some major companies in the market report include Wacker Chemie AG, Momentive Performance Materials Inc., The Dow Chemical Company, Shin-Etsu Chemical Co., Ltd., Elkem ASA, Evonik Industries AG, KCC Corporation, Silchem Inc., Specialty Silicone Products, Inc., and Elkay Chemicals Pvt. Ltd.
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Emergen Research has segmented the global silicone on the basis of product, application, end-use, and region:
- Product Outlook (Revenue, USD Billion; 2018–2028)
- Liquid Silicone Rubber (LSR)
- High-Temperature Vulcanized (HTV)
- Room Temperature Vulcanized (RTV)
- Straight Silicone Fluids
- Modified Silicone Fluids
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Elastomeric Components
- Conditioning Agents
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Automotive & Transportation
- Consumer Goods & Personal Care
- Industrial Processes
On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the R&D sector.
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