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. Some of the key factors driving steady global silicone market revenue growth are increasing development of antimicrobial silicone elastomers and increasing use of silicone in various industries. 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. Silicones are also used on the finished product as hydrophobic coatings. Because of high electrical and chemical resistance qualities, increasing usage of conducting silicone rubber in the anti-slip process for textile manufacturing is expected to have a significantly positive influence on revenue growth of the market over the forecast period. Increased government regulatory involvement across the value chain. This includes raw materials, production processes, and distribution of various grades of silicone products.

However, raw material cost fluctuation and stringent regulations are expected to hamper growth of the global silicone market over the forecast period. The constant volatility of raw material costs is a major challenge in the global silicone industry. The significant rise in raw material prices, including methyl chloride and silicon metals, has a negative impact on silicone manufacturers’ profit margins. As a result, the cost of silicone products rises, which is expected to restrain the market growth.

The all-encompassing report on the Silicone market projects the prospective growth of the industry. It gives and extensive analysis of the market size, share, demand, trends, gross revenue, total earnings to draw a forecast of the growth in the years 2021 to 2028. The study estimates the potential growth of the industry and the factors responsible for the expansion of the business. The study highlights the driving forces, restrains and hurdles for the growth of the market.

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It sheds light on the major companies that contribute significantly to the global sector. The report studies the presence of these companies in major geographical regions and their individual placement in the worldwide business. It helps in projecting the growth of Silicone through the years and in predicting its expansion in the forecasted time span. The increase in the demand for the product is boosting the overall production to ensure a smooth functioning demand-supply chain.

Top Companies Operating in the Silicone Market and Profiled in the Report are: 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.

The study aims to provide a forecast of the growth of the Silicone market by examining the market size, share, demand, trends, and gross revenue of the industry. Further, it provides a competitive analysis and SWOT analysis.  The report segments the industry based on product type, application and end-use. It highlights the emerging trends as well as the novel technology that are visible in the market. The research offers a clear look at the trends observed in the market, the contributing factors, major stakeholders, key companies and prime areas that exhibit a potential for growth.

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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.

Construction segment is expected to register a significantly robust revenue growth rate over the forecast period. Because of their moisture resistance, high strength, and characteristics, silicones are widely utilized in the construction industry. Silicones are utilized in various construction materials, such as glasses, concrete, marble, aluminum, metal, and polymers, that are used in both residential and commercial buildings.

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.

The report on the Silicone market employs both primary and secondary research to examine its import and export, demand and supply, consumption power, spending capacity and distribution channel worldwide. The report evaluates the market standing of key manufacturers and sheds light on the strategies they have adopted to stay competitive. The study also applies qualitative and quantitative methods to assess the annual and financial performance of the top vendors and insights from market leaders. Extensive coverage of the recent trends and developments including joint ventures, collaborations, investments, product launches and acquisitions and mergers constitute a substantial part of the research on the Silicone market for the forecast period from 2021 to 2028.

Emergen Research has segmented the global silicone on the basis of product, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2018–2028)

Gels

Elastomers

Liquid Silicone Rubber (LSR)

High-Temperature Vulcanized (HTV)

Room Temperature Vulcanized (RTV)

Fluids

Straight Silicone Fluids

Modified Silicone Fluids

Resins

Others

Emulsions

Adhesives

Application Outlook (Revenue, USD Billion; 2018–2028)

Elastomeric Components

Conditioning Agents

Binders

Surfactants

Others

End-use Outlook (Revenue, USD Billion; 2018–2028)

Automotive & Transportation

Electronics

Healthcare

Construction

Energy

Consumer Goods & Personal Care

Industrial Processes

Others

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The research provides answers to the following key questions:

What will be the growth rate of the Silicone market for the forecast period, 2021 to 2028? What will be the market size and the share occupied by the prominent vendors by the estimated period?

What are challenges and threats faced by the prominent vendors operating in the Silicone market?

Who are the prominent vendors and what has been their business strategy so far to maintain a competitive edge over their competitors?

What are the past, present and emerging trends likely to influence the growth rate of the Silicone market for the forecast period, 2021 to 2028?

What are the opportunities prominent vendors can bank on to generate more profits during the estimated period?

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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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