NEW YORK, May 02, 2019 (GLOBE NEWSWIRE) -- The global silicone films market is expected to witness a CAGR of 5.9% over the forecast period, and reach USD 1,170 million by 2024. Perpetual demand for electronic products is expected to drive the market growth over the forecast period. Moreover, superior properties over other substitute materials are anticipated to foster the demand for silicone films in the coming years.
Silicon films are employed in the field of healthcare, electronics, and packaging, among other applications. As these markets evolve and become more complex with the introduction of new products and trends, the applications of silicones will continue to expand. These new applications owe their origin to the distinctive properties of silicone, including its role as a delivery system for active ingredients and its ability to act as film former.
Ongoing researches in silicone-film forming technologies, specifically in the healthcare industry, holds potential for a range of innovative applications that can provide optimum care for patients. Additionally, greater efficiency of these films over its substitutes is anticipated to propel the market growth over the forecast period.
Key findings from the report:
- The global silicone films market is expected to witness a CAGR of 5.9% during 2018-2024, and reach USD 1,170 million by 2024.
- By end-user, electronics segment held the major share of the market in the year 2017.
- By product type, silicon release liners segment is expected to be the fastest growing market over the forecast period.
- Asia-Pacific held the major share of the market in the year 2017, and the trend is likely to continue during 2018 -2024.
- Some of the key companies operating in the market includes E. I. du Pont de Nemours and Company; Toray Advanced Film; Mitsubishi Chemical Corporation; 3M ; Xinfeng Group Corporation Ltd; Saint-Gobain Performance Plastics; Elkem ASA; Wacker Chemie AG; Polyplex Corporation; and Gascogne Group among others.
Electronics segment: held the major share of the market from 2014 to 2017
Silicone films offer reliable protection to electronics against external influences such as dirt, moisture, radiation and heat. Moreover, due to their heat-resistant, radiation-resistant and water-repellent properties, silicone films are preferred for binding electrical insulation materials. Additionally, several innovative technologies, such as electroactive polymers which have dielectric precision layers, employ silicon films. Increasing applications in the electronic industry is expected to drive the market growth over the forecast period.
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Silicone Films - Regional insight
Asia-Pacific held the largest share of the market in the year 2017, and the trend is likely to continue over the forecast period. The growth in the region can be attributed to the high demand from electronics industry and medical sector. Perpetual demand from electronic industry for high performance materials and presence of an extensive manufacturing network for silicone film is expected to drive the market growth in the region over the forecast period.
The report segments silicone films market based on product type, end-user, and region.
By Product Type
- Silicone coated film
- PET film
- PP film
- PE film
- Silicone release liners
- High-Density Polyethylene
- Low-Density Polyethylene
- Others
By End-Use
- Medical
- Electronics
- Industrial
- Packaging
- Others
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Central & South America
- Middle East & Africa
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