(MENAFN- GetNews) Global Silicone Derivative Market by Type (Silicon Dioxide (Silica), Silicon Carbide, Silicate, Silicon Nitride, and Others), by End Use Industries (Building & Construction, Automobile, Electronics, Energy, Chemicals, Personal Care, and Others), by Region till 2023
Asia Pacific, Europe, and North America are the major regions in the Global Silicone Derivative Market . Other regions include, Latin America and Middle East & Africa. Among them Asia Pacific is the largest as well as fastest growing market in the world. It accounts for around 40% of share in the Global Silicone Derivative Market. Increasing use of the silicone derivatives in this region is attributed to the growing building & construction industry. The emerging economies in this region are heavily investing in the infrastructural developments to accompany the path of development. Countries namely China, India, and Japan are the major shareholders of the regional market growth. Apart from building and construction, growing demand of automobiles in this region is expected to drive the demand of silicone derivatives further. Japan and India accounts for major demand of Silicone Derivatives in automotive industry. Additionally, liberalization of economies undertaken by countries in this region is encouraging the major players to invest in development of this region. Moreover, countries such as China and India are the world's most energy intensive counties. As a result, these countries are focusing over renewable energy source, which can be the significant driver for Silicone Derivatives in transmission and storage of electricity in this region.
Europe is the second most significant region in the Global Silicone Derivative Market. Germany, France, U.K., and Italy are the major contributors to the regional market owing to the established automotive industry in these countries. The global demand for the high-end automobiles manufactured in this region is increasing steadily with increasing standard of living of the people around the world. This trend in turn is anticipated to pull the maximum demand of Silicone Derivatives from automotive industry in this region throughout the forecast period. In addition to that growing demand of electric and light weight vehicles globally may further increase the demand of Silicone Derivative from this region. Furthermore, the Silicone Derivatives, being harmless to the environment, easily meet the strict regulatory measures of matured economies in this region.
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North America is another substantial region in the Global Silicone Derivative Market. Automobile and construction together hold the major share of demand of Silicone Derivatives in this region. U.S. is the major market in this region owing to the presence of car making and aircraft industries which demand light weight and durable material. Other important regions in the Global Silicone Derivative Market are Latin America and Middle East & Africa. Among them, Latin America is growing at higher pace. The rise of end use industries for Silicone Derivatives in the countries namely Brazil and Argentina are projected to be the driver of growth of Silicone Derivative Market in this region. Lastly, Middle East & Africa are being anticipated to join the hands with leading regions in Global Silicone Derivative Market to become an important market during the forecast period.
Key Players:
Key Players in the Global Silicone Derivative Market are Dow Corning Corporation (U.S.), Shin-Etsu Chemical Co., Ltd. (China), Wacker Chemie AG (Germany), Triveni chemicals (India), Zhenzhou Yellow River Emery Co., Ltd (China), Saint-Gobain Silicon Carbide (France), Xuancheng Crystal Clear New Materials Co., Ltd (China), aromachimie Company Ltd. (U.K.), Multimin-Egypt for Mining S.A.E (Egypt), Hisilco (China).
Segmentation:
The Global Silicone Derivative Market has been segmented based on Type, Application and Region.
Based on Type the market is divided into silicon dioxide (silica), silicon carbide, silicate, silicon nitride, and others. Among them silicone dioxide is the main driver of total demand of silicone derivatives.
Based on Application Global Silicone Derivative Markets is segmented into building & construction, automobile, electronics, energy, chemical, personal care, and others. Building & construction is leading the segments. Its accounts for around 35% of total Silicone Derivative demand.
Geographically , the market is segmented into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific is estimated to hold major share of Global Silicone Derivative Market during the forecast period.
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