Sarasota, FL, Dec. 05, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Silicone Market (Resins, Elastomers, Gels, Fluids and Others) for Textile, Building & Construction, Paper, Chemical Industry, Plastics, Automotive & Transportation, Electrical & Electronics, Medical & Personal Care and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, global silicone Market was valued at USD 15.0 billion in 2015 and is expected to reach USD 20.0 billion in 2021, growing at a CAGR of 5.1% between 2016 and 2021.
Silicones are the polymers consisting of synthetic compounds with repeating units of siloxane. Siloxane is a chain of alternating silicon and oxygen atoms with carbon and hydrogen bonds. Silicone offers superior properties such as; high binding capacity, radiation &water resistance, tear & tensile strength, transparency and coloring properties. Silicone rubber, silicone caulk, silicone oil, silicone resin and silicone grease are some key forms of silicone.
Browse through 29 Market Tables and 36 Figures spread over 110 Pages and in-depth TOC on “Global Silicone Market: By Products, Applications, Size, Industry Share, Trends, Segment and Forecast 2015-2021”.
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The silicone market is expected to witness significant growth in the years to come. The market is mainly driven by increasing demand in construction and building across the globe. The growing and emerging chemical and automotive industries, especially in Asia Pacific region, is likely to boom the demand for silicone over the years to come. However, instable prices of raw materials such as; methyl chloride and silicone metal for the production of silicone is expected to impede the growth of silicone market. The changing dynamics of research and development for product improvement by the major players is likely to open growth opportunities for the market in the near future.
Based on the type of silicone, the global silicone market is bifurcated into resins, elastomer, gels, fluids and other products. Among mentioned types, the elastomer was the largest segment of global silicone market in 2015. It accounted for 37.13% shares of the total market in 2015. Moreover, fluid is a one of the fastest growing segments of silicone market in near future. The growing use of silicone fluid in automotive & transportation industry is a driving factor for the silicone market. In addition, the increase in consumption of silicone in medical and personal care industry is expected to boost the demand for silicone during the years to come. Gels and resins are also important types that are projected to augment at a growing CAGR between 2016 and 2021.
Browse the full "Silicone Market (Resins, Elastomers, Gels, Fluids and Others) for Textile, Building & Construction, Paper, Chemical Industry, Plastics, Automotive & Transportation, Electrical & Electronics, Medical & Personal Care and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/silicone-market
North America experienced a moderate growth for silicone market in 2015. Moreover, U.S. was the major contributor to the regional market in 2015. The growing demand for silicone in automotive and construction industries in the region is likely to witness moderate growth in the near future. The growing demand for silicone elastomer in construction may drive the demand for silicone in the region within the forecast period. The advancing technology in the automotive industry may propel the demand for silicone in near future. The declining demand for silicone export from foreign countries is projected to register the moderate growth for silicone demand in North America over the years to come.
Europe was the second largest market for silicone in 2015. Demand for silicone is increasing in various applications such as electronics & electrical, construction and automotive. Silicone provides strong tensile and extrusion strength to the end product. Moreover, rapid recovery from the debt crises and economic instability is influencing the growth of the automotive industry in the region. The positive efforts such as joint ventures and partnerships among global companies and between global and local companies are prevalent strategies in the region owing to the high initial investments. This parameter is likely to increase the demand for silicone rubber in UK, Germany France, Spain, and Italy over the next few years.
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Asia Pacific emerged as the leading market for silicone in 2015. It accounted for a significant share of the entire market. The growth in the region is attributed to emerging industries such as pharmaceutical and automotive industries specifically in India, China, and Indonesia. Growing construction industry in Asia Pacific region and emerging automotive industry are the major driving forces which are expected to propel the demand for silicone in the region over the next few years. China is estimated to be the major contributor due to the strong demand for silicone, because of rising construction industry and growing production of the automotive industry in the country within the forecast period. Furthermore, Asia-Pacific is projected to witness exponential growth owing to the multitude usage of silicone in various applications is growing. China and India are expected to register the lucrative growth due to the growing consumption of silicone in electronics and electrical industry in near future.
Some of the major players of global silicone market are Bluestar Silicones, BASF SE, Emerald Performance Materials LLC, Momentive Performance Materials Inc., Zhejiang Xinan Chemical Industry Group Co. Ltd, Shin-Etsu Chemical Company, Specialty Silicone Products Inc, Nusil Technology, Wacker Chemie AG, The DOW Corning Corporation, Rogers Corporation, Kaneka Corporation and Jiangsu Hongda New Material Co. Ltd.
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This report segments the global silicone market as follows:
Global Silicone Market: Product Analysis
- Resins
- Elastomers
- Gels
- Fluids
- Others
Global Silicone Market: Applications Analysis
- Chemicals
- Plastics
- Paper
- Building & construction
- Automotive & transportation
- Textile
- Medical & personal care
- Electrical & electronics
- Others
Global Silicone Market: Regional Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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