The global silicone gel market, in terms of value, is projected to reach USD 1.96 Billion by 2026, at a CAGR of 6.9%, from 2016 to 2026. High-growth of the electrical & electronics industry and increase in demand of silicone gel for new applications such as comfort pads, protective skin coverings, and sealing applications in the medical, footwear, aerospace & defense, agriculture, and pharmaceutical industries are the key reasons driving the growth of the global silicone gel market.
The global silicone gel market is dominated by the electrical & electronics industry. This end-use industry is projected to lead the silicone gel market, in terms of value and volume, from 2016 to 2026. This is due to the key properties of silicone gels such as hydrophobicity, high dielectric breakdown, and resistance to high and low temperatures, which enable these gels to be used in critical and harsh environments in the electrical & electronics industry.
However, the high manufacturing cost of the silicone gel, as compared to its substitutes, is restricting their use to certain specific applications. This is hampering the growth of the market. The growing demand from the medical industry is a key opportunity for companies in this market. This is due to the increasing aging population, worldwide, along with increasing awareness about health concerns which drives the medical applications of silicone gel.
Asia-Pacific is largest and the fastest-growing regional silicone gel market. There is an increase in the demand for silicone gel applications, especially in the emerging markets of Asia-Pacific. This demand is attributed to growth of end-use industries, competitive manufacturing costs, and high economic growth rate in the region. In addition, the rising usage in the photovoltaic sector, coupled with the demand for small, low-cost, and advanced electronics component in leading Asia-Pacific countries such as China, India, Japan, and South Korea is fuelling the demand for silicone gel in this region. These factors are attracting companies to adopt investment and expansion strategies in this region.
- ACC Silicones Ltd.
- Applied Silicone Corporation
- Bluestar Silicones (Elkem Group)
- DOW Corning Corporation
- Gelest Inc.
- Henkel AG & Co.
- KCC Corporation
- Momentive Performance Materials Inc.
- North Cost Medical Inc.
- Novaguard Solutions
- Nusil Technology LLC.
- Shin-Etsu Chemical Co., Ltd.
- Silicone Solutions
- Siltech Corporation
- Wacker Chemie AG
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Silicone Gel Market, By End-Use Industry
8 Silicone Gel Market, By Region
9 Competitive Landscape
10 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/rsjmk2/silicone_gel
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SOURCE Research and Markets