The rise in demand for silicone across various end-user industries and surge in adoption of waterborne coatings supplement the growth of the global market.
OREGON, PORTLAND, UNITED STATES, September 22, 2021 /EINPresswire.com/ — The global silicone market was accounted for $18.2 billion in 2018 and is expected to register $91.4 billion at a CAGR of 22.5% by 2026. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and changing market trends.
The rise in demand for silicone across various end-user industries and surge in adoption of waterborne coatings supplement the growth of the global silicone market. However, high prices of silicone products impede growth to a certain extent. Moreover, high penetration of the electric vehicle is estimated to provide multiple opportunities in the upcoming future.
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The market is bifurcated on the basis of type, end-user, and region. Based on type the market is divided into elastomers, fluids, resins, gels, and others. The elastomers segment contributed to more than two-fifths of the global silicone market share in 2018 and is expected to maintain its dominance throughout the study period. On the other hand, the resins segment would grow at the fastest CAGR of 24.7% by 2026.
Based on end-user, the market is divided into building & construction, transportation, personal care & consumer goods, energy, electrical & electronics, paper, textile, and others. The building & construction segment accounted for the highest market share by contributing nearly one-fourth of the global silicone market revenue in 2018 and is estimated to dominate during the forecast period. However, the transportation segment would register the fastest CAGR of 23.2% throughout the study period.
Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific region contributed the largest share in 2018, accounting for nearly one-third of the global silicone market. The region is also projected to register the fastest CAGR of 22.9% from 2019–2026.
The market report includes an in-depth analysis of the market players such as
Evonik Industries AG
Wacker Chemie AG
Emerald Performance Materials, LLC
Momentive Performance Materials Inc.
Shin-Etsu Chemical Co. Ltd.
Other players in the value chain of the silicone market include CSL Silicone Inc., Reiss Manufacturing, Inc., CHT Group, Silchem, Inc., Silteq Limited, Allergan, Ashland Incorporated, Saint-Gobain, Roger Corporation, Primasil Silicone, Sivance, and others.
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