Dublin, July 31, 2023 (GLOBE NEWSWIRE) -- The "Silicone Market - Growth, Trends and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific region is expected to dominate the silicone market, with China and India leading the growth in this region. The demand for silicones in the region is driven by the electronics, automotive, and oil and gas industries, among others.
Overall, the silicone market is witnessing strong post-recovery growth during the forecast period, driven by its diverse applications in various industries and the continuous development of new technologies and products.
The key highlights driving the growth in this market are:
- Increased Usage in the Healthcare Industry: Silicones find widespread applications in the healthcare sector, including medical devices, implants, and prosthetics. The rising demand for healthcare products and advancements in medical technologies are likely to boost the usage of silicones in this industry.
- Growing Demand from the Power Transmission and Distribution Sector: Silicones are used in power transmission and distribution equipment due to their excellent electrical insulating properties and resistance to extreme temperatures. The expansion of the power sector and infrastructure development is expected to drive demand for silicones.
- Rising Applications in the Automotive Industry: Silicones are used in various automotive components, such as gaskets, seals, adhesives, and lubricants. The growth in the automotive industry and the shift towards electric vehicles may contribute to increased silicone usage.
- Opportunity in Electroactive Polymers (EAP): Rising potential demand for electroactive polymers from various end-users presents an opportunity for the silicone market. EAPs are smart materials that change shape or size in response to an electrical stimulus.
However, there are challenges to the market's growth, including the impact of geopolitical tensions and the rising number of government regulations, which may hinder the market's expansion.
The silicone market is consolidated, with most of the share accounted for by key players. Some of the market's major players include Wacker Chemie AG, Dow, Shin-Etsu Chemical Co. Ltd, Momentive, and Elkem ASA, among others.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Application in Automotive Sector
4.1.2 Increasing Usage in Healthcare Industry
4.1.3 Growing Demand from Power Transmission and Distribution
4.2 Restraints
4.2.1 Government Regulation
4.2.2 Geopolitical Impact
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Technology
5.1.1 Elastomers
5.1.2 Fluids
5.2 End-user
5.2.1 Transportation
5.2.2 Construction Materials
5.2.3 Electronics
5.2.4 Healthcare
5.2.5 Industrial Processes
5.2.6 Personal Care and Consumer Products
5.2.7 Other End-users
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
- BRB International B.V. (PETRONAS Chemicals Group Berhad)
- CHT Group
- Dow
- DyStar Singapore Pte Ltd
- Elkem ASA
- Evonik Industries AG
- Hoshine Silicon Industry Co. Ltd
- Jiangsu Mingzhu Silicone Rubber Material Co. Ltd
- Kaneka Corporation
- Mitsubishi Chemical Holdings Corporation
- Momentive
- Shin-Etsu Chemical Co. Ltd.
- Wacker Chemie AG
- Wynca Group
- Zhejiang Sucon Silicone Co. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Potential Demand For Electro Active Polymers (EAP)
For more information about this report visit https://www.researchandmarkets.com/r/180ynl
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