Silicone Market Size Worth Was $7757.4 Million Growing At A CAGR of 4.5% by 2024

July 07 02:41 2017
The Global Silicone Market is anticipated to grow reach USD 7757.4 million by 2024, according to the report published by Report Bazzar. Silicone products including gels, fluids, elastomers and resins are used wide variety of applications such as automotive, electronics, construction, pharmaceutical, personal care, food and textiles. Growth of these end-use industries is expected to aid the demand for the overall market over the next eight years.

The Global Silicone Market is anticipated to grow reach USD 7757.4 million by 2024, according to the report published by Report Bazzar. Silicone products including gels, fluids, elastomers and resins are used wide variety of applications such as automotive, electronics, construction, pharmaceutical, personal care, food and textiles. Growth of these end-use industries is expected to aid the demand for the overall market over the next eight years.

Due to chemical stability coupled with consistent performance of silicones over a wide temperature range are expected to be vital properties of the product, thereby, driving its demand. Silicone elastomer is used in the construction sector for water proofing mortor, metal surfaces and concrete.

Request for free sample of “Silicone Market Analysis Report” @ http://www.reportbazzar.com/request-sample/?pid=983357&ptitle=Global+Silicone+Market+estimates+and+Segment+Forecast+To+2024&req=Sample

These rubbers exhibit ultra violet and ozone resistant properties. Increasing use of these rubber compounds for water proofing, flame resistant, and airtight gaskets in the construction industry are expected to have a positive impact towards growth over the forecast period.

Increasing expenditure on Infrastructure development by governments in countries such as China, India, Brazil, and Argentina are key factors leading to increase the market size for silicone over the forecast period.

Wacker, Shin-Etsu and Dow Corning are the integrated manufacturers, who are engaged in the business of manufacturing silicon as fell finished silicone product forms including elastomers, gels, fluids to the distribution of the abovementioned to buyers. Strong foothold in chemical industry is expected to remain a favorable factor among these companies in silicone industry.

In April 2015, the U.S. FDA passed the law that states silicone basic polymer should be manufactured as described in ASTM method D1418-81, “Standard Practice for Rubber and Rubber Latices—Nomenclature. • Government of India Foreign Direct Investment up to 100% is allowed under the automatic route from foreign/NRI investor without prior approval in electrical & electronics sectors including the services sector.

To view the table of contents and know more details please visit: http://www.reportbazzar.com/product/silicone-market-estimates-and-segment-forecast-to-2024/ 

However, high production cost compared to other elastomer type is a restraining factor for the overall market. Such high cost may be attributed towards raw material availability and processing. Though silicone elastomers require a higher cost of production, their inherent benefits and subsequent positive impacts do outweigh the higher than normal production cost. Long term benefits and low maintenance surpass the higher production of silicone elastomers.

Asia Pacific was the largest market, alone accounting for over 45% of the volume share in 2015. Expansion of the manufacturing hubs in Asia Pacific is expected to result in high demand for silicone for manufacturing products including gaskets, sealants and adhesives is expected to drive market growth over the forecast period. Latin America and MEA are anticipated to witness substantial gains on account of increasing construction activities for the development of manufacturing centers in the regions over the forecast period.

The market is fragmented in nature owing to the presence of numerous manufacturers. Key players of this market include Shin-Etsu, Ashland, Momentive, Kemira, Dow Corning, Evonik and Wacker Chemie. Companies are focusing on R&D for the development of silicone products that can be used in place of other polymers and metals owing to their superior properties including flexibility, durability and moldability.

Get discount copy at: http://www.reportbazzar.com/discount-form/?pid=983357&ptitle=Global+Silicone+Market+estimates+and+Segment+Forecast+To+2024&req=Discount

Product Outlook (Volume , Kilo Tons, Revenue, USD Million; 2014 – 2024)

  • Fluids
  • Gels
  • Resins
  • Elastomers
  • Others
    • Straight silicone
    • Modified silicone
    • High temperature vulcanize
    • Room temperature vulcanize
    • Liquid silicone rubber

Application Outlook (Volume , Kilo Tons, Revenue, USD Million; 2014 – 2024)

  • Electrical & electronics
  • Transportation
  • Construction
  • Personal care & pharmaceuticals
  • Textiles
  • Others

Regional Outlook (Volume, Kilo Tons, USD Million; 2014 – 2024)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
  • Central & South America
    • Brazil
  • Middle East & Africa

                    Saudi Arabia

About Us:

Reportbazzar.com is your trusted source for the most inclusive and informative assortment of market research reports designed to empower you with the latest in industry information that translates to time and cost savings for your business. We not only help you give wing to your latent business ideas but also facilitate you in taking the best informed and strategic decisions that guarantee success in your most promising business endeavors. Our intelligence database comprises of vast arrays of strategically analyzed and high-level market research reports that encompass all major industries worldwide. All the specialized research reports available at Reportbazzar.com are tailor-made to suit your every business need, no matter how diverse or demanding it is.

Contact for more details:

Report Bazzar

United States

30 Wall Street, 8th floor,

New York, NY 10005.

US: +1 (212) 389-6363

Email: [email protected] 

Web – http://www.reportbazzar.com

Media Contact
Company Name: Report Bazzar
Contact Person: Mary Jane
Email: Send Email
Phone: 2123896363
Address:30 Wall Street, 8th floor
City: New York
State: New York 10005
Country: United States
Website: http://www.reportbazzar.com/product/silicone-market-estimates-and-segment-forecast-to-2024/

  Categories: