CLEVELAND, June 19, 2017 /PRNewswire/ --The global market for silicones in construction applications is expected to climb 5.6% per year to $3.7 billion in 2021, when volume demand will reach 594,000 metric tons. Growth will be affected by rebounds in Western Europe, Eastern Europe, and Central and South America, and by continued strong increases in construction spending in the Asia/Pacific region and North America. These and other trends are presented in Global Silicones Market, 4th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
The Asia/Pacific region will represent over half of additional demand between 2016 and 2021 remaining the largest and fastest growing regional market for silicones. Rising personal incomes will stimulate consumer demand for more sophisticated and high performance construction materials. According to analyst Zoe Biller, "Intensity of use in developing regions will remain low overall, however, constraining near term opportunities for silicone suppliers."
Demand for silicones in adhesives and sealants is expected to retain the bulk of sales in construction. However, demand in high gloss and water repellent architectural coatings is expanding at a rapid pace, fueled by robust growth in construction spending in the US and a recovery in Western Europe.
More information about the study is available at https://www.freedoniagroup.com/industry-study/global-silicones-market-by-market-product-and-country-4th-edition-3531.htm
Related studies include:
- #3469 World Industrial Silica Sand (October 2016)
- #3461 Global Emulsion Polymers Market (November 2016)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Chemical studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group