World Silicones Market
World demand to rise 5.8% annually through 2019
LONDON, Sept. 15, 2015 /PRNewswire/ -- World demand for silicones is forecast to rise 5.8 percent per year to $19.6 billion in 2019 thanks, in part, to an improved outlook for silicone prices. In real terms, the pace of growth will lag that of the 2009-2014 period, a time when growth was bolstered by recovery from the effects of the 2009 recession. Demand for silicone in developing regions is still ex-pected to see strong gains through 2019, benefiting from economic advancement and greater penetration of silicones in less mature markets..
Asia/Pacific region to offer best growth opportunities
The Asia/Pacific region will continue to be the strongest source of additional sili-cone demand, accounting for 58 percent of the total increase in global silicone consumption between 2014 and 2019. The bulk of these gains will be attribut¬able to China, which will represent three-fifths of the Asia/Pacific total in 2019. Although China's silicone market will not be able to maintain the extremely rapid pace of gains seen in recent years, growth will still continue to be well in excess of the global average. Through 2019, China is expected to register the second fastest growth in silicone consumption of any nation worldwide, behind only India. Other developing countries in the Asia/ Pacific region, such as Indonesia and Thailand, are also expected to post strong gains in silicone demand through 2019, but the overall pace of growth will be limited by a below average performance in Japan, which remains the second largest silicone market in the region. Above average growth is also expected in the Africa/Mideast region and Central and South America. Gains in Eastern Europe are expected to be slightly below the world average, but will still represent a healthy increase through 2019.
The outlook for silicone demand in the mature markets of North America and Western Europe is somewhat weaker. In the US market, which ranks as the second largest worldwide behind China, demand for silicones will be bolstered by a major improvement in construction activity. However, a significant slowdown in the transportation market from a rebound-fueled 2009-2014 performance will limit the pace of silicone growth in the US. Stronger growth is expected in Mexico, where silicone usage is less mature. Demand for silicones in Western Europe will advance slowly, although a rebound in construction spending will allow for acceleration from the pace of growth seen between 2009 and 2014.
Construction market to see strongest growth
The largest market for silicones in 2014 was electrical and electronic products, which accounted for 20 percent of total demand. The other leading markets for silicones are construction, health and personal care, transportation, and chemi-cals. However, nearly one-fourth of total silicone demand is consumed outside of the leading markets, in applications such as paper production, textiles, and plastic additives. Through 2019, strong growth in silicone consumption is expected in the construction market, where an improved outlook in developed countries will be coupled with continued rapid advance¬ment in developing regions. Demand for silicones will also increase quickly in the health and personal care market, as rising global incomes support greater consump-tion of cosmetic and toiletry products.
Study coverage
This upcoming industry study, World Silicones, presents historical demand data (2004, 2009, 2014) plus forecasts (2019, 2024) by market, product, world region, and for 15 countries. The study also details mar-ket environment factors, evaluates com-pany market share and profiles industry players worldwide.
Download the full report: https://www.reportbuyer.com/product/1191292/
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
http://www.reportbuyer.com
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
Share this article