The market report on the Silicone Market published by Stratview Research indicates lucrative growth opportunities in the Silicone Market industry during the next five-year period and ensures more information regarding the market trends. The following summary will give an overview of the challenges, trends, market dynamics, and key players.
Silicone Market Forecast:
The Silicone Market is likely to witness a healthy CAGR of 7.1% during the forecast period. Silicone is highly demanded due to its extensive usage in various industries, such as industrial process, building & construction, personal care & consumer products and many more, which is the key driver of the market.
The growth of this market principally depends upon several factors which have direct or indirect influence on the demand. The report published by Stratview Research has the summary of such factors derived using multiple analysis. These methods help in evaluating the potential of the companies and identify gaps, finding challenges as well as opportunities to lay out a successful roadmap which leads to higher profitability.
Here are the key players in the market –
- CHT Group
- C S L Silicones Inc.
- Kaneka Corporation
- Primasil Silicones Limited
- Reiss Manufacturing Inc.
- Silicone Engineering Ltd.
- Silicone Solutions
- Siltech Corporation
- SiVance, LLC
- Zhejiang Xinan Chemical Industrial Group Co., Ltd.
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Silicone Market Segmentation:
The report segments are based upon applications, material, product type, demographics, geographics, benefits and volume etc. It also recognizes the most-attractive segments and sub-segments.
Silicone Market Share: By Product Type
Based on the product type, the market is segmented as elastomers, fluids, resins, and gels & other products. The elastomers segment is expected to remain dominant during the forecast period, as they are extensively used in different products, such as cooking, food storage products, baking, electronics, electrical insulation, medical devices, and garments.
Silicone Market Share: By End-Use Industry Type
Based on the end-use industry type, the silicone market is segmented as industrial process, building & construction, personal care & consumer products, transportation, electronics, medical & healthcare, energy, and others. The industrial process segment dominates the market owing to surge in demand for silicone material in various applications, such as industrial coating, lubrication, paper production, anti-foaming agents in drilling, and paint additives. Silicone is also used in industrial sealing solutions.
Silicone Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest market for silicone during the forecast period. The region’s market is mainly supported by increase in demand for silicone in various end-use industries, such as industrial process, building & construction, electronics, etc. In addition, some of the manufacturers of silicone are expanding their facilities in this region, which is further propelling the growth of the market. China and India are the major growth engines of the Asia-Pacific region. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
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