LONDON, Jan. 17, 2017 /PRNewswire/ -- "Growth of electrical & electronics industry and increasing demand of silicone gel in various applications from other end-use industries are the factors fueling the silicone gel market, globally"
The market for silicone gel is projected to grow at a CAGR 6.9%, in terms of value, from 2016 to 2026. It is expected to reach USD 1.96 billion by 2026. The silicone gel market is growing as its demand is increasing in various applications such as adhesion, encapsulation, potting agent, and implant in electrical & electronics, medical & pharmaceutical, and cosmetics & personal care industries. Moreover, the rise of new applications such as comfort pads, protective skin coverings, and sealing applications in the medical, footwear, aerospace & defense, and agriculture industries is the major factor for the growing demand for silicone gels. High manufacturing cost is restricting the growth of the market. Fluctuation in raw material price is a major challenge for the silicone gel market.
"Electrical & Electronics: The largest and fastest-growing end-use industry of the silicone gel market"
The increasing applications of silicone gel and its key properties, such as hydrophobicity, high dielectric breakdown, and resistance to high and low temperatures enable it to be highly demanded in the electrical & electronics industry. The growth of electrical & electronics industry globally is also the major reason for the growing consumption of silicone gel in this industry. Silicone gel is also used in various applications of protective coating, encapsulation, and potting agent for sub-industries such as automotive electronics, LED lighting, HV insulation, and PV.
"Asia-Pacific: The fastest-growing market for silicone gels"
There is an increase in the demand for silicone gel applications, especially in the emerging markets of Asia-Pacific. In Asia-Pacific, India and China are gradually improving their standard of living, healthcare facilities, and infrastructure, which leads to the growing demand for silicone gel in this region. In addition, factors such as high demand from end-use industries, competitive manufacturing costs, and high economic growth rate are also driving the silicone gel market in the region. These factors are attracting companies to adopt investment and expansion strategies in this region. Market players are focusing on this region for a higher market share and to increase their profitability.
The information in this study has been validated through primary interviews conducted with various industry experts across the globe. These primary sources have been divided into three categories: by company type, by designation, and by region.
- By Company Type: Tier 1 - 20%, Tier 2 - 32%, and Tier 3 - 48%
- By Designation: C Level - 18%, D Level - 27%, and Others - 55%
- By Region: Asia-Pacific - 41%, North America - 23%, Europe - 18%, South America - 12%, and Middle East & Africa - 6%
The report provides a comprehensive analysis of profiles of various companies, including:
- Wacker Chemie AG (Germany)
- Dow Corning (U.S.)
- Momentive Performance Materials Inc. (U.S.)
- NuSil Technology LLC (U.S.)
- Bluestar Silicones (France)
- KCC Corporation (South Korea)
- Shin-Etsu Chemical Co. Ltd (Japan)
- Gelest Inc. (U.S.)
- ACC Silicones Ltd. (U.K)
- Siltech Corporation (Canada)
The report provides detailed description of the end-use industries and applications associated with silicone gels. It provides qualitative and quantitative description about the end-use industries of silicone gels. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to Buy the Report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of the revenue for the overall silicone gel market and the subsegments. This report will help stakeholders to better understand the competitive landscape and gain more insights to better position their businesses and market strategies. The report will also help the stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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