(MENAFN- GlobeNewsWire - Nasdaq) Growth of carbon neutral silicones market driven by increasing regulatory pressure, environmental standards along with rising demand for sustainable materials in various industries.
Rockville, MD , Nov. 12, 2024 (GLOBE NEWSWIRE) -- The Carbon Neutral Silicones Market is expected to grow from US$ 294.3 million in 2024 to US$ 465.8 million in 2034. Fact. MR's extensive study shows that the market will expand at a growth rate of 4.7% from 2024 to 2034.
The carbon-neutral silicones market is an evolving market segment within the whole silicones market, as the world increasingly requires sustainable and eco-friendly products. Silicones are flexible, widely used polymers across industries like construction, automotive, electronics, healthcare, and personal care, because of their special combinations of properties featuring thermal stability, flexibility, moisture, and chemical resistance.
Several key factors drive the market for carbon-neutral silicones. Increased regulation by governments and international bodies in terms of cutting carbon emissions is one of the major factors.
In regions such as the European Union, stringent environmental regulations and mechanisms for carbon pricing encourage manufactures to lean toward carbon-neutral technologies. Moreover, consumers and businesses alike are calling for more sustainability in materials. On this count, suppliers should be selected according to carbon neutrality, especially in heavy industries like construction and automotive.
For More Insights into the Market, Request a Sample of this Report:
Key Takeaways from Market Study:
Global carbon neutral silicones market will grow at a CAGR of 4.7% , reaching US$ 465.8 million by the end of 2034. North America will expand at a CAGR of 4.9% from 2024 to 2034, capturing 21.9% of the market share in 2024 and offering an absolute opportunity of US$ 39.9 million . East Asia will account for 29.1% of market share in 2024, generating an absolute dollar opportunity of US$ 55.0 million between 2024 and 2034. Between 2024 and 2034, by product type the silicon elastomers are expected to produce an absolute dollar opportunity US$ 49.9 million . With a 26.7% market share, by application, construction segment is estimated to be worth US$ 78.6 million in 2024.
"Rising Regulatory Pressure and Environmental Standards and Increasing Demand for Sustainable Materials in Various Industries, have contributed to the growth of the Carbon neutral silicones Market” says a Fact.MR analyst.
Leading Players Driving Innovation in the Carbon Neutral Silicones Market:
Dow Inc.; Shin-Etsu Chemical Co., Ltd.; Elkem ASA; Momentive Performance Materials; Wacker Chemie; BASF; Siemens; Evonik; KCC Silicon Corporation; AkzoNobel; Brenntag; Univar; Kemira; Covestro; LyondellBasell; Huntsman; Sabic; DuPont Pioneer; Sumitomo Chemical; Other Prominent Players
Market Development:
These companies continue to invest in innovation ways and strategic partnerships for enhanced product performance at lower environmental cost. More recently, with growing demand for green construction and automotive applications, new entrants and regional players are entering the market.
As an instance:
In August 2022, Dow released PAS 2060 certified carbon neutral silicones service for building façade and automotive applications. In September 2024, Wacker Chemie successfully tested carbon dioxide capture from process of silicon production at its production site, Holla, Norway. In this process quartz and carbon are combined to produce silicon. In January 2023, Elkem completed its carbon capture pilot in silicon smelter with capture rate of up to 95%.
Carbon Neutral Silicones Industry News:
Glass Wall Systems India and Dow India signed a contract in May 2024. The deal states that Dow would provide DOWSILTM Facade Sealants, which are derived from Dow's DecarbiaTM line of lower-carbon products, for Glass Wall System's curtain wall system. Dow launched its PAS 2060 certified carbon neutral silicones solution for automotive and building façade applications in August 2022. Shin-Etsu Chemical Co. added a new line of carbon-neutral silicone sealants to their offering in February 2023.
Get Customization on this Report for Specific Research Solutions:
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global Carbon neutral silicones market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on product type (silicone oils, silicone gels, silicone resins, silicone elastomers, and silicone coatings), application (personal care, industrial manufacturing, construction, automotive, textiles, and medical), and end use industry (consumer goods, industrial manufacturing, construction, automotive, healthcare, and others end use) across major seven regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).
Segmentation of Carbon Neutral Silicones Market:
By Product Type: Silicone Oils Silicone Gels Silicone Resins Silicone Elastomers Silicone Coatings
By Application: Personal Care Industrial Manufacturing Construction Automotive Textiles Medical
By End-Use Industry: Consumer Goods Industrial Manufacturing Construction Automotive Healthcare Others End-Use
Checkout More Related Studies Published by Fact.MR Research:
Automotive Carbon Fiber Materials Market : Composites have been gaining importance in a number of applications since the last decade. Carbon fiber materials, also known as graphite fiber, are very strong but lightweight material. These specialty materials are around 5X stronger than steel and are increasingly used in the automotive industry.
Low Carbon Cement Market : The global low carbon cement market size has been calculated at a value of US$ 2.03 billion for 2024 and is forecasted to increase at a CAGR of 11.2% to reach US$ 5.88 billion by the end of 2034.
Activated Carbon Market : The global activated carbon market is set to estimate a valuation of US$ 3.3 billion in 2023 and it is anticipated to grow at a CAGR of 5.2% to reach US$ 5.4 billion by the end of 2033.
U.S. Carbon Dioxide Market : Valuation of the U.S. carbon dioxide market stands at US$ 381.4 million in 2022. The market is predicted to surge ahead at 6.7% CAGR to reach US$ 732.9 million by the end of 2032.
Recovered Carbon Black Market The global recovered carbon black market accounted for a valuation of US$ 1.88 billion in 2022 and it is expected to surge ahead at a CAGR of 11.1% to end up at US$ 5.42 billion by 2033
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team : ...
Follow Us: LinkedIn | Twitter | Blog
MENAFN12112024004107003653ID1108875705
Legal Disclaimer:
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.