Global Silicone Polymer Market to Reach US$ 19,329.78 Million by 2028 - Coherent Market Insights

SEATTLE, May 11, 2022 /PRNewswire/ -- According to Coherent Market Insights, The global silicone polymer market was valued at US$ 13,800.00 million in 2020, and is expected to exhibit a CAGR of 5.1% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Silicone Polymer Market:

The rapidly expanding building & construction industry in emerging and developed economies such as India, China, Mexico, Brazil, the U.S., Canada, and Germany is expected to boost the silicone polymer demand during forecast period. For instance, according to the Global Alliance for Buildings and Construction, the global construction market size is expected to reach US$ 13,572.4 billion by 2024. Increasing urbanization due to growing population globally, rapid technological advancements in infrastructure development and rise in disposable income is expected to drive the global construction market revenue growth over the forecast period. Moreover, the increasing demand for lightweight automobile parts and growing research and development activities to develop new and innovative products is expected to propel silicone polymer demand during the forecast period. Lightweight materials such silicone elastomer, resin, and silicone emulsions are used to reduce automobile weight, which results in decreasing the overall fuel consumption. High thermal stability associated with silicone polymers is estimated to boost its demand in automobile applications during the forecast period.

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Key Market Takeaways:

The global silicone polymer market is expected to exhibit a CAGR of 5.1% over the forecast period (2021-2028). Silicone polymer possess excellent properties such as chemical inertness, resistance to water and oxidation, and stability at both high and low temperatures. Due to these properties they are used in wide range of commercial applications, from lubricating greases to electrical-wire insulation and biomedical implants.

Europe is the second largest region in the global silicone polymer market and is expected to show the same trend over the forecast period (2021 - 2028). Increasing adoption rate, owing to the rapidly expanding building & construction industry, automobile industry, and industrial process industry. The growing renovation and reconstruction activities in Germany, France, and other European countries is expected to boost the demand for silicone polymers during forecast period.

Key players operating in the market include Dow Inc, Elkay Chemicals Pvt. Ltd., Elkem ASA, Evonik Industries AG, Gelest Inc., Innospec Inc, KCC Corporation, Reiss Manufacturing Inc., Shin-Etsu Chemical Co., Ltd., Siltech Corporation Inc., Supreme Silicones, and Wacker Chemie AG. These players are adopting various organic and inorganic growth strategies such as new product launches, expansion, collaboration, joint ventures, strategic alliances, and others to increase their product portfolio and business operations.

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Detailed Segmentation:

Global Silicone Polymers Market, By Type:

• Elastomers
• High-Temperature Vulcanized (HTV)
• Liquid Silicone Rubber (LSR)
• Room Temperature Vulcanized (RTV)
• Fluids
• Straight Silicone Fluids
• Modified Silicone Fluids
• Resins 
• Gels
• Others (Adhesives, Emulsions, etc.)

Global Silicone Polymers Market, By End-Use Industry:

• Industrial Process 
• Building & Construction
• Transportation
• Personal Care & Consumer Products
• Electrical & Electronics
• Pharmaceutical
• Energy
• Others (Automobiles etc.)

Global Silicone Polymers Market, By Region:

• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• By Country:
• GCC Countries
• Israel
• South Africa
• Rest of Middle East & Africa

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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