A market research report titled, “Silicone: A Global Strategic Business Report” has been announced by Global Industry Analysts (GIA).
It has been estimated that the global silicone market will reach $17.2 billion by 2017. The market will be driven by the end-user segments, including chemical, healthcare, automotive, construction and others. The silicone market has been reinforced by stringent environmental policies in the chemical and related industries. Additionally, technological advances and characteristics like bacterial resistance, high performance, biocompatibility and stability will maintain growth opportunities in the developed and developing global markets.
Silicones, referred to as high performance polymers, are inert and stable materials made from oxygen and silicon. These polymers are available in different grades, including elastomers, waxes, gels, coatings, grease, oil, fluids and resins. Silicones have a wide range of applications, including automotive, paints and coatings, electronics, restoration, chemicals, paper and film, healthcare, construction and others.
The report reveals that construction industry dominates the silicone market in terms of end-use applications. Silicone alkyds provide superior adhesion to tanks, bridges, steel, wood and other construction structures.
Europe and Asia-Pacific hold the major share in the worldwide silicone markets. China is found to be an attractive silicone market due to the promising end-use industries, rising foreign investments and establishment of new production facilities.
Wacker Chemie, SiVance, Shin-Etsu Chemical, NuSil Technology, Momentive Performance Materials, Evonik Industries and Dow Corning are some of the key companies discussed in the report.