Global Silicone Market is Forecast to Reach $ 17.2 Billion by 2017, According to a New Report by Global Industry Analysts, Inc.
San Jose, CA (PRWEB) August 25, 2011
According to the new market research report, silicones are high performance polymers made from silicon and oxygen, and exist in various forms ranging from resins, fluids, oil and grease to coatings, gels, waxes, and elastomers. Silicones are generally inert and stable compounds that find usage in a broad array of applications including construction, healthcare, paper and film, chemicals, restoration, electronics, paints and coatings and automotive among others. Silicone’s unique properties such as thermal stability, good electrical insulation, high gas permeability, low chemical reactivity, non-stick and water repellant make it highly sought after in several types of industries. Silicone growth is expected in both the developed as well as developing economies despite the fact that economic recession significantly dented some of its major application markets. The environment friendly nature of the polymer makes it a viable option in several hazardous and polluting industries. Stricter regulations in the chemical industry provided a major impetus to the solventless silicone market. Silicone consumption witnessed incremental growth over the years with Asian market, particularly China, proving to be a major growth vehicle. Rising demand from rapidly burgeoning Asian economies with added focus towards increased exports and production is expected to drive market expansion in future.
Globally, environmental issues, health and safety concerns are increasingly leading to a decline in the consumption of solvent-based products. This has proved to be a boon for the silicones market, where a major trend in recent times is the increased adoption of solventless thermal-curing silicones. Developed markets such as Europe, employ a sizeable 75% of solventless silicone coatings in manufacture of various products. Countries including Taiwan, Japan, and Korea, have also witnessed a definite shift towards solventless silicone technology. The liquid silicone rubber (LSR) market is developing, owing to advancements in equipment and materials, and shift in applications of the material. OEMs are finding ways to replace chemical polyisoprene by LSR, particularly in the medical market. Silicone coatings offer excellent thermal, mechanical, and physical gas barrier capabilities, and are used in inflatable fabrics for various military, consumer, and space applications, including parachutes, airbags, boat sails, inflatable shelters, and rafts. In North America and Europe, Silicone implants are highly popular and widely used in plastic surgery and surgical procedures such as silicone breast implants. Technological innovations, compatibility with long-term implantable devices, resistance to bacteria, biocompatibility, and emergence as drug eluting product will further boost silicone usage in the long term.
Asia-Pacific and Europe are two of the largest worldwide markets for silicone garnering a dominant share of the world market, as stated by the new research report on Silicone. The Asian silicone market is weighed heavily in favor of the Chinese market, which offers huge opportunities both in terms of production and demand. Installation of new manufacturing facilities, increasing foreign investments and flourishing end-use industries make China an attractive silicone market. Asia-Pacific is also poised to race ahead of other regions at the overall fastest CAGR of over 5.0% through 2017.
By end-use applications, the Construction sector rules the market in terms of sheer size and demand and a robust growth rate. Silicone alkyds offer excellent adhesion to wood, steel, bridges, tanks, and other architectural constructions.
Key market participants in the report include China National Chemical Corporation, Bluestar Silicones International, Dow Corning Corporation, Evonik Industries AG, Momentive Performance Materials, Inc., NuSil Technology LLC, Shin-Etsu Chemical Co., Ltd., SiVance, LLC, and Wacker Chemie AG.
The research report titled “Silicone: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of industry and product overview, trends & issues, end-use analysis, recent industry activity and profiles of market players worldwide. Market analytics and overview is provided in value (US$ ) terms for major geographic markets such as US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Major end-use applications analyzed include, Chemical, Automotive, Construction, Electronic/Electrical, Healthcare, Plastic and Others. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Silicone_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Global Industry Analysts, Inc.
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