Market Insights:
The specialty silicone market is driven mainly by the growing demand for specialty silicone from the construction industry. Specialty silicone are used in a number of insulation applications in the construction industry due to their superior resistance to heat and water, which makes them the ideal material to keep out moisture from a building and maintain the building’s inner temperature. Growing demand for effective insulation materials is likely to be a major driver for the global specialty silicone market over the forecast period. The rising construction industry in emerging regions such as Asia Pacific and the Middle East is likely to be a major driver for the global specialty silicone market over the forecast period. Textile and personal care applications of specialty silicone are also likely to take up a solid share in the global specialty silicone market over the forecast period, due to the effectivity of specialty silicone in adding to the luster of the fabric or of the skin and keeping it safe from water damage.
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Industry Segmentation:
The global specialty silicone market is segmented on the basis of type, end-use industry, and region.
On the basis of type, the specialty silicone market is segmented into antifoam/defoaming agents, silicone elastomers, silicone greases, silicone surfactants, silicone polish, silicone textile softeners, silicone water repellants, thin silicone membranes, and others.
By end use industry, the global specialty silicone market is categorized into textiles, healthcare, electronics, construction, cosmetics and personal care products, automotive and others.
Competitive Analysis:
- Dow Corning Corporation
- Momentive
- Elkem AS
- Siltech Corporation
- KCC Basildon
- AB Specialty silicone
- Evonik Industries AG
- Shin-Etsu Chemical Company
- Wacker Chemie AG.
Industry Updates:
In November 2018, Heico Corp. announced plans to acquire Specialty Silicone Products Inc.
Regional Analysis:
The global specialty silicone market is segmented on the basis of region into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Asia Pacific is expected to dominate the global specialty silicone market over the forecast period due to the growing construction industry in the region. The growing demand for effective insulation and moisture resistance systems in the construction sector is likely to be a major driver for the specialty silicone market. The humidity in Southeast Asian countries and the rapid urbanization in coastal regions is likely to remain a major driver for the specialty silicone market over the forecast period. The growing disposable income of consumers is likely to be a major driver for the specialty silicone market in the region over the forecast period, as the increasing disposable income is likely to drive the demand for new residential construction. Increasing industrial activities in the textiles, healthcare, personal care products, and electronics industries in Asia Pacific are also likely to drive the specialty silicone market in the region.
North America is also likely to retain a strong position in the global specialty silicone market over the forecast period due to the strong presence of the automotive industry, construction industry, and healthcare industry in the region. The strong presence of several leading specialty silicone producers in North America is also conducive to steady growth of the specialty silicone market in the region over the forecast period.
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