The new report by Expert Market Research titled, ‘Global Silicones and Siloxanes Market Report, Share, Share, Price, Outlook and Forecast 2023-2028’, gives an in-depth analysis of the global silicones and siloxanes market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.5% (Global Silicones Market)
Silicones are crucial ingredients in the production of adhesives and sealants. In this regard, the thriving construction sector owing to the rapid urbanisation, increasing population, and increasing standards of living is driving the market growth. Over the forecast period, the market growth is anticipated to be bolstered by a heightened application of silicones in the electronic sector to provide electrical insulation.
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Moreover, the expected increase in demand for silicones in the manufacturing of home and personal care products, such as utensils, is likely to provide impetus to the market in the coming years. In terms of region, the Asia Pacific region accounts for a significant share of the market owing to the growing expansion of the end use industries.
Silicones and Siloxanes Industry Definition and Major Segments
Silicones are defined as the class of resins or elastomers which are made up of chains of siloxanes. The compound shows chemical inertness, water resistance, and high stability at low, medium and high temperatures. These compounds are widely applied in the industrial applications owing to their durability, resilience, and gas permeability.
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On the basis of type, the silicones market can be segmented into:
Based on application, the silicones market has been segmented into:
- Industrial Applications
- Construction Materials
- Home and Personal Care
The different types of siloxanes are as follows:
Based on application, the siloxanes have been divided into:
The regional markets for silicones and siloxanes include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Silicones and Siloxanes Market Trends
The key trends in the silicones and siloxanes market include the technological advancements in the industrial sector. For instance, the advancements in the automotive industry are likely to generate a significant demand for lubricants, thereby, propelling the demand for silicones and siloxanes. Silicones and siloxanes are applied in the skin and hair care products owing to the skin-friendly properties.
In this regard, the growing sales of cosmetic and beauty products, bolstered by the increasing expansion of the e-commerce industry, is likely to be a crucial trend in the market. Moreover, the rising healthcare expenditure across the emerging economies is likely to accelerate the demand for silicones and siloxanes.
Key Market Players
The major players in the market are:
- Dow Chemical Company
- Wacker Chemie AG
- Momentive Performance Materials Inc.
- Shin-Etsu Chemical Co., Ltd.
- Elkem Silicones
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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