The global demand for silicones is predicted to grow by 5.8% per year to USD19.6 billion in 2019, according to Report Buyer.
Through 2019, strong growth in silicone consumption is expected in the construction market, where an improved outlook in developed countries will be coupled with continued rapid advance in developing regions. Demand for silicones will also increase quickly in the health and personal care market, as rising global incomes support greater consumption of cosmetic and toiletry products.
The Asia/Pacific region will continue to be the strongest source of additional silicone demand, accounting for 58% of the total increase in global silicone consumption between 2014 and 2019. China will have a lion’s share, which will represent three-fifths of the Asia/Pacific total in 2019.
Although China’s silicone market will not be able to maintain the extremely rapid pace of gains seen in recent years, growth will still continue to be well in excess of the global average. Through 2019, China is expected to register the second fastest growth in silicone consumption of any nation worldwide, behind only India.
Other developing countries in the Asia/ Pacific region, such as Indonesia and Thailand, are also expected to post strong gains in silicone demand through 2019, but the overall pace of growth will be limited by a below average performance in Japan, which remains the second largest silicone market in the region. Above average growth is also expected in the Africa/Mideast region and Central and South America. Gains in Eastern Europe are expected to be slightly below the world average, but will still represent a healthy increase through 2019.