Research on Silicone Market “Estimated to Reach US$ 28.6 Billion by 2024”

Press Release

According to Market Study Report, Silicone Market provides a comprehensive analysis of the Silicone Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry. This report also provides market landscape and market share information in the Silicone Market. An exclusive data offered in this report is collected by research and industry experts team.

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The Global Silicone Market size is expected to grow from US$ 20.4 Billion in 2019 to US$ 28.6 Billion by 2024, at a CAGR of 7.0% during the forecast period. This report spread across 154 Pages, Profiling 10 Companies and Supported with 128 Tables and 49 figures is now available in this research.

Top Companies profiled in the Silicone Market:

  • The Dow Chemical Company (US)
  • Wacker Chemie AG (Germany)
  • Shin-Etsu Chemical Co. Ltd.(Japan)
  • Elkem ASA (Norway)
  • Momentive (US)
  • KCC Corporation (South Korea)
  • Evonik Industries AG (Germany)
  • Gelest Inc. (US)
  • Innospec Inc. (US)

“The elastomers segment is estimated to drive the global market during the forecast period.”

The silicone market has been segmented based on type into elastomers, fluids, resins, and gels & other products. Among these types, the elastomers segment accounted for the largest share of the market in 2018 and is likely to witness significant growth during the forecast period. The market growth in this segment is attributed to its increasing use in various products, including voltage line insulators, cooking, baking, and; undergarments, sportswear and footwear; electronics; medical devices, and implants; and in household gaskets and O-rings. Some silicone elastomers are also used in the manufacturing of sealants.

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“The industrial process end-use industry segment is projected to hold the largest market share during the forecast period.”

The industrial process segment is expected to hold the largest market share during the forecast period. It is growing rapidly due to the increasing demand for silicone materials in applications, such as lubricants, anti-foaming agents in offshore drilling, paper production, industrial coatings, and paint additives. Silicone-based sealants are used in demanding industrial processes requiring resistance to high pressure, temperature and corrosion, and adaptation to all types of surfaces. Not only are they used as polymers, but they can also be added to polymers from other materials to improve their performance.

Breakdown of primary participants’ profile:

  • By Company Type – Tier 1: 55%, Tier 2:30%, and Tier 3: 15%
  • By Designation – C Level Executives: 21%, Directors: 23%, Others : 56%
  • By Region – North America: 45%, Europe: 27%,APAC: 15%,South America:7%,Middle East & Africa: 6%

Competitive Landscape of Silicone Market:

1 Overview

2 Market Ranking Analysis

3 Competitive Scenario

3.1 Expansions

3.2 Acquisitions

3.3 Agreements & Joint Ventures

3.4 New Product Launches

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Reason to access this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall silicone market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.

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