(MENAFN- GlobeNewsWire - Nasdaq) Growing Applications of Silicone Films in Healthcare and Medical Devices Contributing to Market Growth. According to Future Market Insight's research study, Silicone Film Market Growing demand across electronics, automotive, and medical sectors fueled by diverse applications and environmental benefits.
NEWARK, Del, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The market for silicone films is estimated to be around US$ 1.1 billion in 2024 . It is projected to exhibit a CAGR of 5.00% over the forecast period, with an estimated market size of US$ 1.8 billion by 2034 .
The demand for silicone films is increasing across various industries such as electronics, automotive, and medical devices due to their diverse applications like protective coatings, insulation, adhesives, and release liners. The rising awareness of the environmental benefits of silicone films, expanding applications, and continuous advancements in silicone-based technology are also driving growth in the silicone film market.
Click to Request Sample Report and Drive Impactful Decisions:
These films are also widely used in packaging, automotive, and construction industries due to their properties such as barrier properties, seal integrity, and heat resistance. Silicone films, in the electronics industry, are used as substrates and protective coatings, and encapsulates electronic components. Their demand is growing due to the production of lightweight, bendable electronic devices.
Silicone films are also gaining preference due to their ability to manufacture flexible displays and touchscreens used in various devices like smartphones, tablets, and automotive displays. These films are also used as protective coatings to safeguard electronic components from moisture, dust, chemicals, and mechanical stress.
“Companies in the silicone film market must explore and expand into new application areas beyond traditional markets such as electronics, automotive, and healthcare. This helps mitigate risks associated with dependence on a single market segment and opens up avenues for revenue growth,” says a Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Market Study
The silicone films segment dominates the silicone film market and it is expected to rise at a CAGR of 4.90% through 2034. On the basis of the end-use industry, the electronics industry segment is estimated to rise at a CAGR of 4.60% through 2034. The silicone film market in the United Kingdom is anticipated to grow at a CAGR of 6.10% over the forecast period. The silicone film market in China is estimated to rise at a 5.80% CAGR through 2034. The silicone film market in Japan has the potential to increase at a 5.40% CAGR through 2034. The United States silicone film market is predicted to rise at a 5.30% CAGR through 2034. The silicone film market in South Korea is very likely to grow at a CAGR of 6.90% through 2034.
Unlock Success with Our Proven Methodology! Start Now and Transform Your Business:
The global market for silicone films is highly competitive and includes both domestic and international players. Companies such as Dow Corning, Wacker Chemie AG, Momentive Performance Materials, Elkem ASA, Shin-Etsu Chemical Co., Ltd., Rogers Corporation, etc., are some of the major players in the market. These players cater to the demands of various industries, such as electronics, packaging, industrial manufacturing, and aerospace, where silicone films are extensively used. To stay competitive, companies are investing in the development of more efficient and multi-functional silicone films that can enhance their electrical insulation, barrier properties, and flexibility.
Key Companies in the Market
Dow Corning Wacker Chemie AG Momentive Performance Materials Elkem ASA Shin-Etsu Chemical Co., Ltd. Rogers Corporation 3M Company Evonik Industries AG Mitsubishi Chemical Corporation Siltech Corporation GE Advanced Materials DuPont Toray Industries Avery Dennison Nitto Denko Corporation BASF SE Henkel AG & Co. KGaA Eastman Chemical Company Trelleborg AB PolyOne Corporation
Your dream purchase is just a click away. Buy now and make it yours:
Silicone Film Silicone Coated Film Silicone Release Liners
By End-Use Industry:
Electronics Medical Industrial Packaging Others
North America Latin America Asia Pacific Middle East and Africa (MEA) Europe
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
Explore Trending Reports of Packaging
The global polyethylene films market is going to further accelerate at a CAGR of 4.0% to reach a valuation of US$ 49.3 billion by the year 2033. The global stretch hood films market is poised to create greater strides between 2022 and 2031 at a CAGR of 6.1%, reaching US$ 1,399.1 Million by the year 2031. The global PVDC Coated Film Market reach up to US$ 13.1 billion by 2033. The global market is estimated to secure a CAGR of 3.1% during the forecast period. Global form-fill-seal films market to reach a valuation of US$ 44196.57 million by 2033. The demand for form-fill-seal films is estimated to grow at a steady 5.1% CAGR. The UV stabilized films market holds the potential to surpass a valuation of US$ 56.54 billion by 2033. Market players could expect a CAGR of 5.1% during the forecast period. The global collation shrink films market is expected to elevate at a CAGR of 5.9% between 2022 and 2030, reaching US$ 6.5 Billion by the year 2030. The global cast stretch films market size is projected to grow at a CAGR of 4.7% between 2023 and 2033, totaling around US$ 4.1 billion by 2033. The protein films market is estimated to reach US$ 2.2 Billion with a CAGR of 5.9% by 2032. The food packaging film market is expected to rise to US$ 115.0 billion by 2034. It is expected to grow at a CAGR of 6.6% during the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
For Sales Enquiries: ...
LinkedIn | Twitter | Blogs | YouTube
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.