World Silicone Market Report 2020: Historic & Forecast Analysis Through 2015-2030

Dublin, Feb. 27, 2020 (GLOBE NEWSWIRE) -- The "Silicone Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

The global silicone market was worth $120.43 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 6.5% and reach $155.12 billion by 2023.

This 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 market, and compares it with other markets.

The silicone market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. In 2019, Asia Pacific was the largest region in the silicone market.

Rising demand of 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 a coatings have major applications in construction. Also, in 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 is expected to restraint the growth of 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 the silicone materials. The shutdown of silicone production facilities in Germany, 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, companies such as Wacker Chemie AG, Elkem Silicones, Shin-Etsu Chemical Co., and Momentive Performance Materials Inc. increased silicone elastomers prices by 10% to 30% at the end of 2017 and the beginning of 2018 due to an increase in raw material and energy costs. Therefore, fluctuations in the prices of raw materials is 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 effecting the silicone market. Silicone products are regarded as environmental friendly and durable than that of the plastic products. For instance, in 2019, as per The Canadian Health Department reports on its website, stated that there are no health risks associated with the use of silicon 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.

Major players in the market are Final List of Companies, Wacker-Chemie GmbH, CSL Silicones, Specialty Silicone Products Incorporated, Evonik Industries AG, Kaneka Corporation, Dow Corning Corporation, Momentive, Elkem ASA, Gelest Inc.

Key Topics Covered

1. Executive Summary

2. Silicone market Characteristics

3. Silicone market Size And Growth
3.1. Global Silicone Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Silicone Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Silicone market Segmentation
4.1. Global Silicone market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Elastomers
• Fluids
• Gels
• Others

4.2. Global Silicone market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Construction
• Transportation
• Electrical & Electronics
• Textiles
• Personal Care & Pharmaceuticals
• Others

4.3. Global Silicone market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Industrial
• Electronics
• Machinery
• Aerospace
• Medical

5. Silicone market Regional And Country Analysis

Companies Mentioned

• Wacker-Chemie GmbH
• CSL Silicones
• Specialty Silicone Products Incorporated
• Evonik Industries AG
• Kaneka Corporation
• Dow Corning Corporation
• Momentive
• Elkem ASA
• Gelest Inc.
• BASF SE
• Emerald Performance Materials LLC
• Shin-Etsu Chemical Co. Ltd.
• Siltech Corporation
• ICM Products Inc.
• CHT Group
• Primasil Silicones
• 3M
• Nusil Technology LLC
• Allergan
• Ashland Incorporated
• Siltech Corporation
• Arkema
• Silteq Limited
• KCC Corporation
• Sivance
• Zhejiang Xinan Chemical Industrial Group Co. Ltd.
• Reiss Manufacturing Inc.
• Gelest Inc.
• Saint-Gobain
• Silicone Solutions

For more information about this report visit https://www.researchandmarkets.com/r/j46nqt

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