Silicone Market | Exactitude Consultancy Reports
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Silicone Market by Product Type (Elastomers, Fluids, Resins, Gels, Other), Application (Industrial Process, Building & Construction, Transportation, Personal Care & Consumer Products, Medical & Healthcare, Electronics, Energy, Others) and by Region Global Trends and Forecast from 2022 to 2029
The global silicone market is projected to reach USD 33.24 billion by 2029 from USD 19.18 billion in 2020, at a CAGR of 7.3 % from 2022 to 2029.
Silicone is a high performance polymer that comprises of siloxanes. It is prepared by hydrolysis of dimethyl dichlorosilane. Silicone exhibits various properties like low chemical reactivity, low toxicity, low thermal conductivity, and thermal stability. It can be formulated to be electrically conductive or insulative thus making it suitable for electrical applications. It contains a wide range of chemical and physical properties. They are resistant to moisture, cold, ultraviolet radiation, heat, and several chemicals.
egment Analysis
The global silicone market is segmented by product type, application and region.
Based on product type, the silicone market is classified into elastomers, fluids, resins, gels, other. The silicone market is expected to be led by the elastomers sector, which will account for the greatest revenue share (41.56%) in 2021. These elastomers, which have the properties of viscosity and elasticity and are employed in the production of lightweight components, are composed of a mixture of linear polymers, cross linkers, reinforcing agents, and catalysts. The demand for lightweight automotive components has increased recently, which helps to boost fuel efficiency and lower carbon emissions, and this is projected to fuel the expansion of the silicone market.
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