(MENAFN- EIN Presswire)
Global Silicone Market
Silicone: Rising Demand Across Industries Due to Versatility in Automotive, Electronics, Healthcare, and construction Applications
The demand for silicone is rising due to its versatility, with increasing applications in automotive, electronics, healthcare, and construction industries.” - Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, August 14, 2024 /EINPresswire / -- Exactitude Consultancy has published a new research report on "Silicone market Size 2024". Silicone is a synthetic polymer primarily composed of silicon, oxygen, carbon, and hydrogen atoms. It is renowned for its unique combination of properties that make it highly versatile and useful in a wide range of applications. One of silicone's defining characteristics is its exceptional temperature resistance. It withstands extreme heat & cold and remains stable & flexible over a broad temperature range, from as low as -40°C (-40°F) to as high as 230°C (446°F). This property makes silicone ideal for use in baking molds, kitchen utensils, and even aerospace applications.
Silicone exhibits excellent flexibility and elasticity. It has the ability to be stretched and compressed without losing its shape, making it valuable in products such as gaskets, seals, and medical devices. Its resistance to moisture, UV radiation, and chemicals makes it durable and long-lasting. Furthermore, silicone is biocompatible, meaning it is safe for use in medical implants and prosthetics. It is non-toxic and hypoallergenic, reducing the risk of adverse reactions in contact with the human body. Its low surface energy prevents substances from sticking to it, which is why it is commonly used in non-stick cookware.
The global silicone market is projected to reach USD 33.24 billion by 2032 from USD 19.18 billion in 2023, at a CAGR of 7.3 % from 2024 to 2032. The increasing interest of the individuals in this industry is that the major reason for the expansion of this market".
Browse Premium Research insights:
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
Major vendors in the Global Silicone Market include Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, Illinois Tool Works Inc., Evonik Industries AG, Hutchinson, Kemira Oyj, Dow Inc., AbbVie Inc., KCC Corporation, Elkem ASA, Ashland, Momentive, Kemira, Wacker Chemie, Amul Polymers, Specialty Silicone Products, Inc., Supreme Silicones, Silchem Inc., BASF SE and others...
In November 2023, Dow partnered with Circusil, a silicone materials recycling company, to start a silicone recycling facility in Kentucky, U.S. This facility is expected to recycle silicone waste streams from Dow's U.S. operations and postindustrial waste streams from customers.
Munich, Jan 11, 2024: Wacker Chemie AG plans to further expand its silicone specialties business and is reorganizing its production operations in Europe. A new production site for silicones is to be built in Karlovy Vary in the Czech Republic. The main drivers of this expansion measure are megatrends such as electromobility and renewable energies which require silicones from WACKER. Production is expected to start at the end of 2025.
Market Segmentation 2024 to 2032
Silicone Market By Product Type, 2020-2032, (Usd Billion) (Kilotons)
Elastomers
Fluids
Resins
Gels
Other
Silicone Market By Application, 2020-2032, (Usd Billion) (Kilotons)
Industrial Process
Building & Construction
Transportation
Personal Care & Consumer Products
Medical & Healthcare
Electronics
Energy
Others
Get Quick Access to Sample Pages Now @
#request-a-sample
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
North America (United States, Mexico & Canada)
South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Asia Pacific dominated the market with a revenue share of more than 45.0% in 2023. Large market share of the region is attributed to the presence of several small-sized, medium, and large market players in the region. Market players shifting production facilities from North America and Europe to Asia Pacific, owing to factors such as cheap labor, easy availability of raw materials, and more market penetration opportunities in industries including construction, electronics, transportation, industrial process, personal care, and consumer products, energy, and healthcare, is anticipated to propel the regional production of silicone over the forecast period.
Europe was the second largest market, and it is expected to grow at a CAGR of 5.1% from 2024 to 2032. Expanding construction sector in various countries including Germany, UK, France, Russia, and Spain is expected to drive product demand over the forecast period. An increase in funding from the EU and supportive measures (such as incentives, subsidies, and tax breaks) undertaken by several governments is expected to boost growth of the construction sector in the region. In addition, growing utilization of silicone in the renewable energy sector for applications in windmills and solar panels and in the healthcare sector for aesthetic implants is expected to boost silicone market growth.
Index (TOC): Silicone Market
Executive Summary: A concise overview of the market's size, growth potential, and key trends.
Market Scope: A clear definition of the market's boundaries and the products or services it encompasses.
Market Landscape: A detailed analysis of the market's current state, including major players, competitive landscape, and market dynamics.
Market Sizing: A breakdown of the market's size by revenue, volume, or other relevant metrics, with historical data and future projections.
Market Segmentation: A categorization of the market based on various factors like customer type, product category, and geographical location.
Five Forces Analysis: An evaluation of the competitive landscape using Porter's Five Forces framework, identifying bargaining power of buyers and suppliers, threats of new entrants and substitutes, and competitive rivalry.
Customer Landscape: An in-depth exploration of the market's customer base, their needs, buying behavior, and decision-making processes.
Geographic Landscape: An analysis of the market's geographic distribution, highlighting key regions and growth opportunities.
Decision Framework: A practical guide to help you make strategic decisions based on the market insights presented.
Market Drivers and Challenges: An examination of the key factors that propel the market forward and the potential obstacles that might hinder its growth.
Market Trends: An exploration of the current and emerging trends that will shape the future of the market.
Vendor Landscape: An overview of the major vendors operating in the market, including their product portfolios and market share.
Vendor Analysis: A detailed assessment of the strengths, weaknesses, opportunities, and threats (SWOT analysis) of key vendors.
This comprehensive guide empowers you to gain a strategic advantage in the Silicone market. Utilize the insights within to navigate the competitive landscape, identify growth opportunities, and make informed business decisions.
Key Offerings:
Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment | 2024-202
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
Get Your Report Customized
Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
Segmentation on the basis of any specific country or region
Any segment can be classified on the basis of application
Application segment can be further divided on the basis of companies
We can split the company market share on the basis of product, application and region
Report can be prepared for any specific country/region/segment
Customers can be added on the basis of regions and countries
We can help! Our analysts can customize this market research report to meet your requirements.
Recommended Reading
Agriculture Reinsurance Market
Agritech Market
Agrigenomics Market
Agriscience Hyperspectral Imaging Market
Bivalve Market
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Irfan T
Exactitude Consultancy
+1 704-266-3234
email us here
Visit us on social media:
X
LinkedIn
MENAFN14082024003118003196ID1108553460