Future Growth Potential of Silicones due to Identification of New Functional Benefits
Silicones find an increasing number of applications across a diverse set of industry sectors due to their functional benefits and emerging trends in key end-use industries. These industries are industrial processes, construction, personal care, special systems, transportation, electronics, energy, and medical.
The rising need for innovative formulations from manufacturers and formulators and new, unmet needs of customers challenge the silicones market. In addition, manufacturers must offer sustainable solutions and products that facilitate ease and speed of manufacturing.
The electronics industry catering to automotive applications is witnessing the demand for a product with high thermal conductivity and well-managed volatility to achieve efficient heat dissipation. Furthermore, silicone products that can be processed to achieve superior levels of manufacturing by end-use industries are needed. In Asia-Pacific, personal care product consumers increasingly prefer products that demonstrate high levels of natural-looking aesthetics, along with a rising trend of minimalism in beauty favoring a reduction in daily skincare time without compromising the sensory experience. The trend is particularly dominant in urban locations in South Korea, Southeast Asia, and Pacific countries and is slowly spreading to other countries in Asia-Pacific.
In addition, military expenditures are rising as governments across the globe focus on modernizing their defense and security infrastructure, leading to investments in military aviation. Simultaneously, the demand for new commercial aircraft is slowly gaining pace after COVID-19’s impact in 2020, boosting the aviation sector. The need for the movement of goods by sea is also rising, driving the growth of the shipping industry to support marine transport for international trade. These trends will be the key growth drivers accelerating the global silicones market.
Research Scope
This study covers silicone elastomers, fluids, resins, and gels and the different application methods, such as silicone rubber, coatings, emulsions, sealants & adhesives. It also gives the regional volume consumption and regional revenue estimates for each end-use industry. The study has a quantitative and qualitative discussion of the end-use industry-wise consumption and sales for the total silicones market. The research service also discusses market shares for the top global silicone manufacturers.
