The global silicones market size is poised to grow by USD 5.46 billion during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Silicones Market 2020-2024 (Graphic: Business Wire)
Silicone elastomers are highly preferred in various end-user industries such as automotive, construction, consumer goods, electrical and electronics, and healthcare due to their superior properties such as tear resistance, durability, easy fabrication, thermal resistance, ozone and UV resistance, and flame retardancy. Moreover, the demand for silicone elastomers is high in orthopedic applications and the high prevalence of musculoskeletal disorders in the elderly population is encouraging the growth of the market in focus. Additionally, the growing infrastructural development in developing economies is fueling the use of structural silicone glazing (SSG) in the construction sector. The growing demand for silicone elastomers will significantly drive the growth of the global silicone market during the forecast period.
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Report Highlights:
- The major silicones market growth came from elastomers segment. Silicone elastomers are used in the construction industry as sealants, coatings, and water-repellent paints due to properties such as thermal stability, high permeability, water repellency, UV resistance, and oxidative stability. Moreover, silicone elastomers are highly preferred over other conventional materials because of their properties, such as rapid curing, heat resistance, and electrical insulation.
- APAC accounted for the largest silicones market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing industrialization, rapid urbanization, and increasing infrastructure development will significantly influence silicones market growth in this region.
- The global silicones market is fragmented. China National Bluestar (Group) Co. Ltd., CHT Group, CRI-SIL Silicone Technologies LLC, Dow Inc., DuPont de Nemours Inc., KC Co. Ltd., Momentive Performance Materials Inc., Rogers Corp., Shin-Etsu Chemical Co. Ltd., Siltech Corp., and Wacker Chemie AG are some of the major market participants. To help clients improve their market position, this silicones market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global silicones market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Growing Demand for Medical-grade Silicones will be a Key Market Trend
Medical-grade silicones are extensively used in medical devices as they exhibit superior flexibility, biocompatibility, and stability. Medical-grade silicones are suitable for prosthetic devices as they are lightweight and impart a skin-like texture. There is a growing demand for medical-grade silicones, one of the key silicones market trends, as it improves the stability and performance of medical devices and medical tapes. Silicone is suitable for medical device applications because of its strong chemical structure and compatibility with body fluids. The increasing use of silicones in medical tubing, including peristaltic pumps, and surgical components will drive the demand for medical-grade silicones.
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Silicones Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist silicones market growth during the next five years
- Estimation of the silicones market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the silicones market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of silicones market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market Outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Elastomers Market size and forecast 2019-2024
- Fluids Market size and forecast 2019-2024
- Resins Market size and forecast 2019-2024
- Gels and others Market size and forecast 2019-2024
- Market opportunity by product
PART 07: MARKET SEGMENTATION BY END-USER
- Market segmentation by end-user
- Comparison by end-user
- Industrial process Market size and forecast 2019-2024
- Construction Market size and forecast 2019-2024
- Personal care and consumer products Market size and forecast 2019-2024
- Transportation Market size and forecast 2019-2024
- Others Market size and forecast 2019-2024
- Market opportunity by end-user
PART 08: CUSTOMER LANDSCAPE
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC Market size and forecast 2019-2024
- North America Market size and forecast 2019-2024
- Europe Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Increasing adoption in electrical and electronics industry
- Growing demand for medical-grade silicones
- Increase in preference for bio-based products
PART 13: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- China National Bluestar (Group) Co. Ltd.
- CHT Group
- CRI-SIL Silicone Technologies LLC
- Dow Inc.
- DuPont de Nemours Inc.
- KC Co. Ltd.
- Momentive Performance Materials, Inc.
- Rogers Corp.
- Shin-Etsu Chemical Co. Ltd.
- Siltech Corp.
- Wacker Chemie AG
PART 15: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 16: EXPLORE TECHNAVIO
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