Asia-Pacific is the leader in the global silicone market and this dominance is projected to continue till 2020. China is the key market in this region, having a market share of more than half of the global demand for silicones. China is followed by India, where the market size by volume is growing at a moderate rate.
An increase in the demand for silicones in composite applications has been observed in the Asia-Pacific region due to its low prices and wide variety of applications. Also, production facilities of silicones are majorly concentrated in Asia-Pacific which is driving the continuous growth and innovation in the silicone market, this market is projected to ascertain a significant growth in the coming years.
The silicone market is segmented on the basis of types that include elastomers, fluids, resins, gels, and other products. The elastomers segment dominates the global silicone market on the basis of type. The growth is driven by its extensive use in the building & construction, chemical, and medical & personal care industries. Elastomers solve structural glazing and weatherproofing challenges, contribute to energy efficiency in buildings, and reduce material wastes.
“Silicone Market by Type by Application & by Region – Global Trends & Forecasts to 2020”, a new study by ReportLinker, estimates the market size of silicone for 2015 and projects the demand of the same by 2020. The market research study provides a detailed qualitative and quantitative analysis of the silicone market. Various secondary sources have been used, such as encyclopedia, directories, and databases to identify and assemble information useful for this extensive commercial study of the silicone market. The primary sources including experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of the silicone market.