Silicone Market by Type, End-Use Industry & Region - Global Forecasts to 2022 - Seite 2

The Asia Pacific region is estimated to be the fastest-growing market for silicone during the forecast period. The growth of the silicone market in Asia Pacific is due to the presence of key end-use industries, especially industrial processes, building & construction, personal care & consumer products, transportation, and electronics, which have a high potential for consumption of silicones. The market in Asia Pacific, owing to high demand and low labor cost, is much more dynamic and competitive than its western counterparts. These factors are expected to drive the demand for silicone in Asia Pacific.

The global silicone market is witnessing moderate growth. Factors restraining and challenging the growth of the silicone market are the stringent regulatory policies for silicone in some end-use industries and increasing raw material and energy prices.

Dow Corning (US), Wacker (Germany), Momentive (US), Shin-Etsu (Japan), and Elkem (Norway) lead the global silicone market. These players are gaining a strong foothold in the market through their strategies of new product launches and developments and expansion of manufacturing facilities.

Market Dynamics

Drivers

• Efficient And Sustainable Properties of Silicone to Drive Its Demand in Various End-Use Industries
• Growing Demand for Silicones in Emerging Clusters of Asia-Pacific And the Middle East & Africa Region

Restraints

• Stringent Regulatory Policies for Silicone in Few End-Use Industries

Opportunities

• Growing Demand in New Applications

Challenges

• Increasing Raw Material And Energy Prices

Companies Mentioned

• Arkema
• Ashland Global Holdings
• Basf
• CSL Silicones
• Dow Corning
• Elkem
• Emerald Performance Materials
• Evonik
• Gelest
• ICM Silicone Group
• Kaneka
• KCC Corporation
• Momentive
• Nusil Technologies (Avantor Performance Materials)
• Primasil Silicones
• Reiss Manufacturing
• Roger Corporation
• Saint-Gobain.
• Shin-Etsu
• Siltech Corporation
• Silteq
• Sivance
• Specialty Silicone Products
• Wacker
• Zhejiang Xinan Chemical Industrial Group