Market Research Report
Silicone (except Resins) Global Market Report 2022
|Silicone (except Resins) Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
Silicone (except Resins) Global Market Report 2022 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global silicone (except resins) market as it emerges from the COVID-19 shut down.
Where is the largest and fastest growing market for the silicone (except resins)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Silicone (except Resins) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider silicone (except resins) market, and compares it with other markets.
Markets Covered: 1) By Product Type: Elastomers; Fluids; Gels; Other Product Types
2) By Application: Construction; Transportation; Electrical & Electronics; Textiles; Personal Care & Pharmaceuticals; Other Applications
3) By End Userr: Industrial; Electronics; Machinery; Aerospace; Medical
Companies Mentioned: Wacker-Chemie GmbH; CSL Silicones; Specialty Silicone Products Incorporated; Evonik Industries AG; Kaneka Corporation
Countries: Brazil; China; France; Germany; India; Indonesia; Japan; South Korea; Russia; UK; USA; Australia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Major players in the silicone market are Wacker-Chemie GmbH, CSL Silicones, Specialty Silicone Products Incorporated, Evonik Industries AG, Kaneka Corporation, Dow Corning Corporation, Momentive, Elkem ASA, Gelest Inc, and BASF SE.
The global silicone (except resins) market is expected to grow from $80.27 billion in 2021 to $87.73 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The market is expected to grow to $120.31 billion in 2026 at a CAGR of 8.2%.
The silicone market consists of sales of silicone and related services for usage in the manufacturing of lubricants and synthetic rubber. They are characterized by thermal stability, hydrophobic nature, and physiological inertness. Silicone (except resins) is widely used in the medical industry to manufacture surgical implants and dental impression materials.
The main product types of silicone are elastomers, fluids, gels, and other product types. Elastomers are polymers that are having viscosity and elasticity and are therefore known as viscoelasticity. The applications are construction, transportation, electrical and electronics, textiles, personal care and pharmaceuticals, and other applications. The end-users are industrial, electronics, machinery, aerospace, and medical.
Asia Pacific was the largest region in the silicone market in 2021. North America was the second-largest region in the silicone market. The regions covered in the silicone report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Rising demand for silicone in different industries is expected to propel the silicone market. Silicone materials are being extensively used in industries such as construction, transportation, electrical & electronics, textiles and personal care, and pharmaceuticals. Silicone materials such as silicone sealants, adhesives, and coatings have major applications in construction. Also, in the electronics sector, silicon is used to provide high thermal stability and resistance to weathering, ozone, moisture, and UV radiation in electronic products.
Rising prices of raw materials adding to the manufacturing costs are expected to restraint the growth of the silicone market. The low availability of raw silicone resulting from the shutting down of the manufacturing facilities is considered to be an important factor affecting the prices of silicone materials. The shutdown of silicone production facilities in Germany, the USA, and China due to different environmental factors and government sustainable policies disrupted the supply of silicone in recent years. This has increased pressure on the manufacturers to raise the prices of silicone materials. For instance, in October 2021, Wacker Silicones prices increased for its products. the silicones business division of Wacker Chemie AG, Munich/Germany will increase prices on average by 30% or more. Therefore, fluctuations in the prices of raw materials are expected to hamper the silicone market growth.
The increasing demand for green chemicals is driving the growth of the silicone market. The increasing stress on the use of environmentally friendly materials is positively affecting the silicone market. Silicone products are regarded as environmentally friendly and more durable than of plastic products. For instance, in 2019, The Canadian Health Department reports on its website, stated that there are no health risks associated with the use of silicone cookware instead of plastic cookware.
In 2019, Elkem ASA, a Norway-based leading silicone manufacturer, acquired Basel Chemie Co., Ltd for an undisclosed amount. Acquisition of Basel Chemie Co., Ltd was aimed to strengthen Elkem ASA's silicone gel manufacturing capabilities. Basel Chemie Co., Ltd. is a South Korea-based company that specializes in manufacturing silicone gels for its use in cosmetics and water repellents.
The countries covered in the silicone market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.