Stratview Research has published a new report on the Silicone Market, segmented by Product Type (Elastomers, Fluids, Resins, and Gels & Other Products), by End-Use Industry Type (Industrial Process, Building & Construction, Personal Care & Consumer Products, Transportation, Electronics, Medical & Healthcare, Energy, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global artificial intelligence as a service market.

Market Highlights

The Silicone Market is projected to grow from USD 16.1 billion in 2021 to USD 23.73 billion by 2028 at a CAGR of around 5.7% during the forecast period of 2022-2028. Silicone is highly demanded due to its extensive usage in various industries, such as industrial process, building & construction, personal care & consumer products and many more, which is the key driver of the market.

Covid Impact

Covid-19 has impacted the market dynamics, competition, and global supply chain of every possible market one can think of. The revenues for many, have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operations and strategy will sustain and beat the competition.

Segmentation –

This report studies the Silicone Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:

Based on the product type, the market is segmented as elastomers, fluids, resins, and gels & other products. The elastomers segment is expected to remain dominant during the forecast period, as they are extensively used in different products, such as cooking, food storage products, baking, electronics, electrical insulation, medical devices, and garments.

Based on the end-use industry type, the silicone market is segmented as industrial process, building & construction, personal care & consumer products, transportation, electronics, medical & healthcare, energy, and others. The industrial process segment dominates the market owing to surge in demand for silicone material in various applications, such as industrial coating, lubrication, paper production, anti-foaming agents in drilling, and paint additives. Silicone is also used in industrial sealing solutions.

In terms of regions, Asia-Pacific is estimated to be the largest market for silicone during the forecast period. The region’s market is mainly supported by increase in demand for silicone in various end-use industries, such as industrial process, building & construction, electronics, etc. In addition, some of the manufacturers of silicone are expanding their facilities in this region, which is further propelling the growth of the market. China and India are the major growth engines of the Asia-Pacific region. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.

Following are the key players in the Silicone Market:

·         CHT Group

·         C S L Silicones Inc.

·         Kaneka Corporation

·         Primasil Silicones Limited

·         Reiss Manufacturing Inc.

·         Silicone Engineering Ltd.

·         Silicone Solutions

·         Siltech Corporation

·         SiVance, LLC

·         Zhejiang Xinan Chemical Industrial Group Co., Ltd.

To know more about the covid impact on the market, click here: https://www.stratviewresearch.com/Request-Sample/1448/silicone-market.html#form

About Stratview Research-

Stratview Research is a global market intelligence firm having a strong team of industry veterans and research analysts. Stratview Research has been serving multiple clients across a wide array of industries. Our services cover a broad spectrum of industries including but not limited to Energy Chemicals, Advanced Materials, Automotive, and Aerospace. At Stratview, we believe in building long term relations with our clients.

Connect with our team here–
https://www.stratviewresearch.com/contact

Or

Call us @:  +1-313-307-4176