New York, United States , Jan. 31, 2023 (GLOBE NEWSWIRE) -- The Global Silicone Polymer Market Size to grow from USD 18.59 billion in 2021 to USD 35.90 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period. The polycarbonate market has grown due to the increasing demand for sustainable polymers with excellent impact and temperature resistance properties in various industries like medical devices, packaging, automotive etc. The growing demand for silicone polymers in various end-user industries including industrial process, building & construction, personal care & consumer products, and automobile is expected to drive market growth.
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The fluids segment to account for the largest market size during the forecast period
Based on type, the silicone polymer market is categorized into gels, elastomers, fluids, resins and others. The fluids segment to account for the largest market size during the forecast period. The increased demand for fluids is due to their excellent properties such as no coagulation and high compressibility makes them suitable for the personal care industry. Continuous research and developments are going on in order to obtain new and innovative fluid-based products for the personal care sector.
Browse 57 market data Tables and 67 Figures spread through 210 Pages and in-depth TOC on “Global Silicone Polymer Market Size, Share, and COVID-19 Impact Analysis, By Type (Gels, Elastomers, Fluids, Resins and Others), By End User (Energy, Pharmaceutical, Industrial Process, Aerospace, Cookware, Automotive, Medical, Electronics, Personal Care, Construction and Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.
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The industrial process to hold a higher CAGR during the forecast period.
Based on the end user, the silicone polymer market is categorized into energy, pharmaceutical, industrial process, aerospace, cookware, automotive, medical, electronics, personal care, construction and others. The industrial process to hold a higher CAGR during the forecast period. The demand for silicon-based products and materials because of their outstanding properties is increasing in industrial processes like anti-foaming, offshore drilling, thermal sealing etc. is boosting the growth of the silicone polymer market.
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Europe to hold a higher CAGR during the forecast period.
The Global Silicone Polymer Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022. Asia Pacific is expected to be the largest market. The expansion in the region's electronics, automotive and personal care industries accounts for the largest part of the growth of the silicone polymer market, which will keep on increasing in future also.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Silicone Polymer Market include Dow Inc, Amul Polymers, Elkem ASA, Evonik Industries AAG, Supreme Silicones, CHT Group, Zhejiang Xinan Chemical Industries Co. Ltd., Momentive, Kaneka, Wynca Group, Emerald Performance Materials and Others.
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