The silicone film market is projected to grow at a CAGR of 6.5%, in terms of value, from 2018 to 2023
NEW YORK, Jan. 28, 2019 /PRNewswire/ --
The silicone film market is projected to grow at a CAGR of 6.5%, in terms of value, from 2018 to 2023.
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The market size of silicone film is estimated to be USD 794 million in 2018 and is projected to reach USD 1,087 million by 2023, at a CAGR of 6.5% from 2018 to 2023. The growth of the market is attributed to the high growth of end-use industries consuming silicone film. Another factor driving the market is the superior properties of silicone films. However, the high manufacturing cost is restraining the growth of the market. Also, stringent regulatory policies related to manufacturing and use of silicone film especially in medical devices is the major challenge, which, in turn, has affected the growth of the market.
The silicone release liners type segment is projected to register the higher CAGR during the forecast period.
Silicone release liners are expected to be the fastest-growing type of silicone film owing to their increasing demand in several end-use industries.Silicone is the most commonly used release coating material due to its ability to offer a number of desirable performance characteristics, such as a distinct silicon-oxygen bond, ultra-low surface energy, and high gas permeability.
Silicone is used in release liners as it helps provide resistance to slip, moisture, and abrasion, improved adhesion, gloss, foam control, and anti-blocking properties. The use of silicone-based materials also increases the durability of release liners such as LDPE liners and HDPE liners.
Electronics to be the largest end-use industry of silicone film in terms of volume and value.
The key properties of silicone films, such as hydrophobicity, high dielectric breakdown, resistance to high and low temperatures enable them to be used in critical and harsh environments in the electronics end-use industry. Silicone films are used in various applications such as smart sensors, automotive electronics, actuators, photovoltaics, and generators.
APAC is projected to be the largest silicone film market, in terms of volume, during the forecast period.
APAC is projected to register rapid growth in the silicone film market due to the increasing demand from end-use industries, namely, electronics, medical, packaging, and others.It is also the fastest-growing silicone film market in terms of both production and demand.
Higher domestic demand along with easy availability of raw materials and low-cost labor make APAC the most preferred destination for the silicone film manufacturers.Manufacturers focus on this region to gain a significant market share and increase profitability.
These factors are attracting companies to adopt expansions and R&D in this region.China and India are among the fastest-growing economies, globally.
The presence of developing manufacturing sector in these economies is projected to boost the silicone film market in the region.
This study was validated through primary interviews conducted with various industry experts worldwide. The primary sources were divided into three categories, namely, company type, designation, and region.
• By Company Type – Tier 1: 57%, Tier 2: 29%, and Tier 3: 14%
• By Designation - C Level: 43%, Director Level: 35%, and Others: 22%
• By Region - APAC: 40%, Europe: 30%, North America: 20%, and RoW: 10%
The report profiles several leading players of the silicone film market that include Wacker Chemie (Germany), Mitsubishi Chemical Corporation (Japan), Elkem (Norway), DowDuPont (US), Momentive Performance Materials (US), Loparex (US), Toray Advanced Film (Japan), Siliconature (Italy), Polyplex (India), Sappi Limited (South Africa). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the silicone film market.
Research Coverage:
The report offers insights on silicone film used in the various end-use industries across regions.It aims at estimating the size of the silicone film market during the forecast period and projects future growth of the market across type, end-use industry, and region segments.
The report also includes an in-depth competitive analysis of the key players in the silicone film market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them the closest approximations of the revenues for the overall market and its various subsegments.This report will help stakeholders obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies.
The report will also help stakeholders understand the pulse of the market and help acquire information on key market drivers, restraints, challenges, and opportunities affecting the growth of the silicone film market.
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