Construction activities fuellingsilicones market
Waste Management Expo 2020 MAR 12&13 BIEC, Bengaluru, India

Construction activities fuelling the silicones market

10:14 AM, 10th December 2019
Construction activities fuelling the silicones market

The silicone market was valued at $18.2 billion in 2018, and is expected to reach $91.4 billion by 2026, registering a CAGR of 22.5 percent from 2019 to 2026. Silicone come under the category of synthetic polymer, it is a material manufactured by using silicon metal and methanol. Silicone are high-performance polymers that can take different forms, such as solids, liquids, -thin liquids as well as semi-viscous pastes, greases and oils.

Rise in construction activities in regions such as Latin America, Middle East & Africa (LAMEA) and Asia-Pacific, fuels the demand for silicone. In addition, the personal care sector consumes a considerable amount of silicone in Europe and North America owing to the presence of key players in both the regions. Key players of the personal care sector operating in North America and Europe are L’Oreal Paris, Garnier, Head and Shoulders, and others. Silicone are used for various personal care applications such as for reducing the white residue and tacky feel of antiperspirants in deodorants. In addition, it also enables to retain the color and luster associated with cosmetics, shampoos, and conditioners, as well as imparts a better shine.

The silicone market is segmented into type, end-user and region. Based on type, the market is divided into elastomers, fluids, resins, gels, and others. On the basis of end-user, the market is categorized into building & construction, transportation, personal care & consumer goods, energy, electrical & electronics, paper, textile, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific and LAMEA. Europe has the second-highest market share in terms of application. This is attributed to the presence of huge automotive manufacturing market and personal care sector in the region.

Some of the major players in the market include Dow Inc, Shin- Etsu Chemical Co Ltd, Wacker Chemie AG, Kaneka Corporation, Evonik Industries AG, Elkem ASA, Momentive Performance Materials Inc, Arkema Group, Emerald Performance Materials LLC and BASF SE.

Other players in the value chain of the silicone market include CSL Silicone Inc, Reiss Manufacturing Inc, CHT Group, Silchem Inc, Silteq Limited, Allergan, Ashland Incorporated, Saint-Gobain, Roger Corporation, Primasil Silicone, Sivance and others.

Key players are adopting numerous strategies such as product launch, acquisition, collaboration, partnership, product development and business expansion, to stay competitive in the silicone market. For instance, ELKEM acquired Basel Chemie, a Korean producer of specialty silicone gels for cosmetics and waterrepellents for the construction industry. This acquisition aims at getting access to leading technology in attractive end-user silicone segments and provide platform for further development and growth.

In addition, Evonik planned to establish a new silicone plant in Geesthacht. The planned investment at the Geesthacht site is an important strategic move by strengthening focus on innovative specialty chemical product portfolio. The new plant is scheduled to start operations by the end of 2019 and includes silicone and silane-terminated polymers. This expansion has reinforced its silicone.

Based on type, the elastomer segment has garnered the highest market share in 2018. Growth opportunities for silicone elastomers are also expected from automotive industries as these are favourable in the production of connector seals, spark plug boots and gaskets.

Hence, consistent growth in the automotive production is expected to provide growth opportunities for silicon elastomer. Based on end-user, the building & construction gained highest market in 2018. It has garnered 32.3 percent in terms of volume.

The demand for silicone in the construction industry has increased specifically in structural applications such as factory and field glazing, owing to its excellent adhering characteristics. Moreover, increase in the construction activities in countries such as Brazil, India, and China, is another factor expected to boost the demand for silicone.

Based on the region, Asia-Pacific is anticipated to experience rapid growth during the forecast period. This is attributed to the rising consumer base in the region. Asia-Pacific consists of huge electronics manufacturing base. In addition, rising renewable energy market and rapid electric vehicle penetration is creating lucrative growth opportunities for the silicone market in Asia- Pacific. Silicone are used in solar panels as well as in the components of electric vehicles. Countries contributing majorly to the silicone market in Asia-Pacific are China, Japan, India and South Korea.

© Chemical Today magazine

View the magazine on Mobile, download the Chemical Today magazine app



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Strict low sulfur content regulations to fuel demand

Hydrodesulfurization is a chemical process which is used to remove sulfur and sulfur compounds from refined petroleum end products, including petrol ( ...

Read more
Extensive application of boilers suggests high demand

For efficient industrial power plant operations, boilers as well, quality of feedwater plays a crucial role. As feedwater treatment is essential, indi ...

Read more
Building blocks of all life gain new understanding

New research on an enzyme that is essential for photosynthesis and all life on earth has uncovered a key finding in its structure which reveals how li ...

Read more
Nanoparticle-based, bio-inspired catalyst to make efficient reactions affordable

Many chemical compounds come in two versions that are mirror images of one another, as are our right and left hands. This property is known informally ...

Read more
New center to replace oil & gas with sustainable chemistry

The chemical industry requires new technologies as they phase out oil & gas in the years ahead. Catalysts made from so called ‘high-entropy ...

Read more
Efficient synthesis of ginkgo tree compound to be used as 'green' insecticide

Chemists at Scripps Research have invented an efficient method for making a synthetic version of the plant compound bilobalide, which is naturally pro ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X