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.
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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