The newly launched report by Stratview Research, titled ‘Silicone Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026’ has been bifurcated by Product Type (Elastomers, Fluids, Resins, and Gels & Other Products), by End-Use Industry Type (Industrial Process, Building & Construction, Personal Care & Consumer Products, Transportation, Electronics, Medical & Healthcare, Energy, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
According to the report Silicone market is likely to witness a healthy CAGR of 7.1% during the forecast period. Silicone is highly demanded due to its extensive usage in various industries, such as industrial process, building & construction, personal care & consumer products and many more, which is the key driver of the market.
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Market Segmentation Analysis -
Based on the product type, the market is segmented as elastomers, fluids, resins, and gels & other products. The elastomers segment is expected to remain dominant during the forecast period, as they are extensively used in different products, such as cooking, food storage products, baking, electronics, electrical insulation, medical devices, and garments.
Based on the end-use industry type, the silicone market is segmented as industrial process, building & construction, personal care & consumer products, transportation, electronics, medical & healthcare, energy, and others. The industrial process segment dominates the market owing to surge in demand for silicone material in various applications, such as industrial coating, lubrication, paper production, anti-foaming agents in drilling, and paint additives. Silicone is also used in industrial sealing solutions.
In terms of regions, Asia-Pacific is estimated to be the largest market for silicone during the forecast period. The region’s market is mainly supported by increase in demand for silicone in various end-use industries, such as industrial process, building & construction, electronics, etc. In addition, some of the manufacturers of silicone are expanding their facilities in this region, which is further propelling the growth of the market. China and India are the major growth engines of the Asia-Pacific region. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
The following are the key players in the market-
· CHT Group
· C S L Silicones Inc.
· Kaneka Corporation
· Primasil Silicones Limited
· Reiss Manufacturing Inc.
· Silicone Engineering Ltd.
· Silicone Solutions
· Siltech Corporation
· SiVance, LLC
· Zhejiang Xinan Chemical Industrial Group Co., Ltd.
Stratview Research's reports are the result of a thorough analysis that combines thorough secondary, and primary interviews with industry leaders, and confirmation using unique internal database and statistical methods. More than 1,000 verified secondary sources, such as annual reports from companies, press releases, fact books, journals, white papers, and blogs are reviewed and analysed.
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