Authored By: Sarah
11 Mar 2021

Silicones Market Size to Grow by $ 6.20 bn During 2021-2025

Technavio has been monitoring the silicones market and it is expected to grow by $ 6.20 bn, accelerating at a CAGR of almost 6% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


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Silicones Market: APAC to lead market growth during the forecast period

  • 41% of the market growth will originate from APAC during the forecast period.
  • Growing demand for silicone elastomers will be a key trend that will influence market growth significantly.
  • The Growth of construction industry will be a significant factor in driving the growth of the silicones market.

Silicones Market Size to Grow by $ 6.20 Billion through 2021-2025  

Silicones Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. CHT Group, Dow Inc., DuPont de Nemours Inc., Elkem ASA, Evonik Industries AG, Innospec Inc., Kaneka Corp., Momentive Performance Materials Inc., ShinEtsu Chemical Co. Ltd., and Wacker Chemie AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights on this market: Download a Free Sample Report

Silicones Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive silicones market growth during the next five years
  • Precise estimation of the silicones market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the silicones market industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of silicones market vendors

Technavio has been monitoring the Global Silicones Market and it is expected to grow by $ 6.20 billion, accelerating at a CAGR of over 6% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report

Silicones Market: Growth of construction industry to Drive Growth

One of the primary factors that will trigger the growth of the Silicones Market size is the growing demand for silicone elastomers. Silicone elastomers are highly preferred in various end-user industries such as automotive, construction, consumer goods, electrical and electronics, and healthcare due to their superior properties such as tear resistance, durability, easy fabrication, thermal resistance, ozone and UV resistance, and flame retardancy. The demand for silicone elastomers is high in orthopedic applications and the high prevalence of musculoskeletal disorders in the elderly population is encouraging the growth of this market.

The growing infrastructural development in developing economies is also fueling the use of structural silicone glazing (SSG) in the construction sector. Silicone elastomers are high-performance polymers produced by compounding straight-chained, reactive, and linear polymer molecules with crosslinkers, reinforcing agents, and catalysts. The increasing demand for silicone elastomers from end-user industries such as construction and automotive is expected to drive the growth of the silicones market during the forecast period.

Silicones Market Size to Grow by $ 6.20 Billion through 2021-2025  

Silicones Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. CHT Group, Dow Inc., DuPont de Nemours Inc., Elkem ASA, Evonik Industries AG, Innospec Inc., Kaneka Corp., Momentive Performance Materials Inc., ShinEtsu Chemical Co. Ltd., and Wacker Chemie AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Silicones Market Size to Grow by $ 6.20 Billion through 2021-2025  

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report 

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