Global Silicone Market is valued approximately USD 12.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.7 % over the forecast period 2020-2027. Silicone are produced via reaction between and methyl chloride and treating the reaction-product with water and are high-performance specialty polymers consisting of siloxane.
It has various properties such as low chemical reactivity, low thermal conductivity, low toxicity, thermal stability, water repelling forming watertight seals, adheres very well with glass, microbiological growth resistance, resistance to oxygen, ozone, and ultraviolet (UV) light, electrical insulation properties, and high gas permeability.
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The global silicone market is facing challenges due to COVID-19 as suspension of production due to the lowered demand, supply chain bottlenecks, and to protect the safety of various employees. The superior properties of silicone and high demand for silicone in the electronics industry are the few factors responsible for growth of the market over the forecast period. Further, the introduction of products and services along with other strategic alliance by the market players will create a lucrative demand for the market. For Instance: in September 2019, Elkem ASA launched SILCOLEASE POLY 600 series, a new solvent-free polymer specially designed to give excellent performances on demanding high-speed labeling applications. However, stringent regulatory policies for silicone is the major factor restraining the growth of global Silicone market during the forecast period.
The regional analysis of global Silicone market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the increasing demand for silicone from the end-use industries, especially electronics, building & construction, personal care & consumer products, and transportation.
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Major market player included in this report are: Wacker Chemie Ag Shin-Etsu Chemical Co., Ltd. Momentive Elkem Asa The Dow Chemical Company Gelest Inc. Kcc Corporation Evonik Industries Ag Innospec Inc. Specialty Silicone Products, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type: Elastomers Fluids Resins Gels
by Ends-Use Industry: Industrial Process Building & Construction Personal Care & Consumer Products Transportation Electronics Medical & Healthcare Energy Others
By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018 Base year – 2019 Forecast period – 2020 to 2027
Target Audience of the Global Silicone Market in Market Study:
Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers Investment bankers Investors
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