Transportation, Electronic Products, & Healthcare to Provide Growth Opportunities in Global Silicone Market

CLEVELAND, Oct. 18, 2021 /PRNewswire/ -- Global demand for silicones is forecast to rise 7.1% per year to $22.0 billion equivalent to 2.9 million metric tons in 2025, according to a new Freedonia Group analysis. While every major market for silicones is expected to grow in both value and volume terms, the study finds, some markets are projected to experience above average growth:

• A strong rebound in motor vehicle and other transportation equipment production, and the use of more advanced and technologically sophisticated components, will promote the use of silicones in instrument panels and other sensors in both developed and developing countries.
• Increasing tablets and smartphone production, in particular in the Asia/Pacific region, will support silicone demand in the electronic products market.
• Aging populations will support increased sales of medical devices, prosthetics, and medical adhesives that utilize silicones.

Silicone Market Poised for Strong Post-Pandemic Rebound

Global silicone market increases through 2025 will come off a depressed base in 2020, as the silicone industry was significantly impacted by the COVID-19 pandemic. Sales growth will be supported by accelerations in building construction activity and manufacturing output – where silicones are used in a variety of applications – and increasing personal incomes, which will boost demand for products that incorporate silicones. In addition, greater uptake of silicones in the transportation, electronic products, and healthcare markets will support gains.

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Global Silicones examines the global market for silicones by product, market, function, and world region. Historical data for 2010, 2015, and 2020 and forecasts for 2025 and 2030 are provided for silicone demand in current dollars for each of the products, markets, and function. Volume data (in metric tons) are also provided for each country and region, as well as for each market and product at the global level.

Products:

• elastomers (room temperature, high-temperature/high consistency, liquid silicone rubber)
• fluids (including both basic siloxane fluids and more specialized products such as emulsions, organically functionalized fluids, and fluorosilicone fluids)
• resins
• gels
• foams
• pastes

Markets:

• construction (residential buildings, commercial buildings, and nonbuilding construction)
• transportation equipment (e.g., motor vehicles, aircraft and space vehicles, boats and ships, railroad equipment, snowmobiles, golf carts, military equipment)
• electrical equipment (including solar panels cells, semiconductor components, electromechanical equipment, high-voltage insulators, transformers, and ceramic, porcelain, and glass insulators)
• electronic products (e.g., computer equipment, instruments, electronic components, tablet computers and smartphones, wireless communications equipment, telephone apparatus, radio and television broadcasting equipment, LEDs)
• personal care (e.g., antiperspirants, deodorants, cosmetics, hair care products, shaving products, shower and bath products, skin care products, sun care products)
• chemical (including manufacture of polyurethane foam, slips agents, additives, foam control agents)
• medical and healthcare
• other markets including industrial (e.g., machinery, textiles, paper) and consumer (vehicle and furniture polishes, toys, housewares, etc.)

Functions:

• adhesives, sealants, and caulks
• elastomeric components (e.g., gaskets and seals, hosing and tubing)
• paints and coatings
• lubricants and greases (e.g., heat transfer fluids, dielectric fluids, transmission/hydraulic fluids)
• other functions including emollient and conditioning agents, surfactants, polishes, and defoamers)

About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.

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SOURCE The Freedonia Group