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Global Silicone Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030
|Global Silicone Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030|
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Global Silicon demand stood at 7.21 Million Tonnes in 2020 and is forecast to reach 11.21 Million Tonnes by 2030, growing at a healthy CAGR of 4.55% until 2030. Silicones are polymers manufactured by polymerizing siloxanes which are monomers containing silicon atoms connected by oxygen, carbon and hydrogen atoms. They are of several types including elastomers, resins, fluids, and gels. They have many properties including durability, foam control, adhesion, UV stability, discharge safety, transparency, glossiness, radiation resistance, heat resistance, and flexibility. Due to these properties, silicones have several end use industries such as building and construction, industrial process, personal care and consumer products, electronics, transportation, medical and healthcare, energy. Increasing demand form the construction and electronics industry is projected to drive the demand of silicones for the forecast period. Demand growth from other sectors include the personal care and consumer products and medical and healthcare sector. Moreover, stringent regulatory policies regarding use of silicones might hinder the demand growth during the forecast period.
In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a few industries. Construction and electronics were among the most affected industries during the pandemic. This had an impact on the demand of silicone for the first half of 2020. The demand for silicone fell during the coronavirus pandemic. Major market players who are supplying for the products like The Dow Chemical Company (US), Wacker Chemie AG(Germany), Shin-Etsu Chemical Co. Ltd., (Japan), Elkem ASA (Norway), Momentive (US), KCC Corporation (South Korea) suspended their production units present in the countries like US, France, Germany, Italy, and Spain due to the pandemic effects. Thus, the market is expected to suffer a mild setback in the upcoming forecast years.
Region wise, Asia pacific region holds the major share of global demand for silicone due to increasing demand of application industries such as construction, electronics, personal care etc. Moreover, increasing population and per capita income in emerging economies like India and China coupled with growing number of products using silicone is another factor influencing demand growth in the Asia Pacific region.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2030
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Major players for silicone globally include Dow, Emerald Performance Materials, Evonik Industries AG, Jiangsu Mingzhu Silicone Rubber Material Co., Ltd, Kaneka Corporation, Shin-Etsu Chemical Co. Ltd, Wynca Group, Hoshine Silicon Industry Co. Ltd, Elkay Chemicals Pvt. Ltd., Supreme Silicones, Specialty Silicone Products, Inc.
To extract data for global silicone market, primary research surveys were conducted with silicone manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global silicone market over the coming years.
ChemAnalyst calculated silicone demand globally by analyzing the historical data and demand forecast which was carried out considering imported silicone, prices, materials used for production of silicone . ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as silicone manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, global silicone market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
With the given market data, Chemanalyst offers customizations according to a company's specific needs.
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