Silicone Market

Date: 2016-05

Silicones are a modern class of synthetic materials. They have a wide range of applications that collectively bring safety, comfort and enjoyment to life. They are noted for their ability to function in conditions that would destroy conventional materials. Silicones display a host of unique properties that can lubricate, seal, bond, release, de-foam, encapsulate, insulate and coat. They do not conduct electricity.

The use of silicones, siloxanes and silanes generates energy savings and greenhouse- gas emission reductions that outweigh the impacts of production and end of life by a factor of 9. The unique properties of silicones such as low thermal conductivity, low chemical reactivity, low toxicity, and thermal stability make products stronger, more aesthetic, stable, user friendly, and durable.

The market is projected to reach $XX Billion by 2021 with a CAGR of YY% in the forecast period 2016-2021. Continuous product developments by the participant companies are increasing the market applications base for silicone, thereby boosting the consumption in the region. APAC is projected to have the largest market size in silicone market because of the presence of robust industry verticals utilizing silicone. U.S. demand for silicones is forecast to climb XX% annually to $XX billion by 2021, with volume rising XX% per year. Silicone elastomers will grow the fastest, overtaking fluids as the leading product type.

The Asia-Pacific region will remain the largest and fastest-growing outlet for silicones in the coming years. Gains will continue to be driven by the large silicone market in China. The country will post strong double-digit gains going forward. Silicone demand in the region will also benefit from healthy gains in countries such as South Korea, Taiwan and India, although subpar increases in the Japanese market will temper this to some extent. Above-average growth is also forecast for Central and South America, Eastern Europe and the Africa/ Mideast region, areas in which silicone demand per capita is currently among the lowest in the world. North America and Western Europe, the historical centers of the world silicone industry, saw demand severely hampered by the recent economic recession. Silicone demand is expected to make a solid recovery, fueled in large part by a strong rebound in construction spending and motor vehicle production. As silicones become increasingly mature in these regions, technological advancements and product innovation will become essential to grow the application base for long-term market growth.

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