Market Scenario
The global specialty silicone market is
presumed to expand at a significant CAGR during the forecast period (2018-2023)
owing to the increasing consumption in the construction sector, asserts Market
Research Future (MRFR). Silicones, also termed as polisiloxanes are polymers
that comprise synthetic compounds made of siloxane. They are resistant to heat
and are extensively used in lubricants, adhesives, medicine, cooking utensils,
thermal and electrical insulation, and medicine. Specialty silicones are used across
industries such as personal care, electronics, building and construction,
healthcare, personal care, and others.
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Industry News
October 2, 2018: A group of South Korean companies have reached
an agreement to acquire MPM Holdings Inc., which is the parent company of
Momentive Performance Materials Inc., the parent company of global silicones
supplier for $3.1 billion. The group comprises of SJL Partners L.L.C., Wonik
QnC Corp., and KCC Corp. and will assume all of Momentive's net debt, pension
and OPEB liabilities. Momentive reported total liabilities of $2.18 billion
through six months of 2018, up a bit from $2.17 billion at the end of 2017.
Competitive Insights
·
Wacker
Chemie AG
·
Dow
Corning Corporation
·
AB
Specialty Silicones
·
Momentive
·
Shin-Etsu
Chemical Company
·
KCC
Basildon
·
Evonik
Industries AG
·
Siltech
Corporation
·
Elkem
AS
Drivers and Constraints
Impacting the Market
Specialty silicones are suitable for several
end-use industries. With the growing demand from the end-use industries, the
global specialty silicone market is anticipated to propel. Also, high demand
from skin lightning and other skincare products is presumed to augment the
market growth. One of the major end-use industries is the construction sector
which drives the global specialty silicone market. Owing to its attributes such
as temperature and weather resistant properties, waterproof abilities, and UV
stability, specialty silicones are extensively used in the construction sector.
On the flip side, specialty silicones are also
used in the skincare products which are harmful for the skin. This is likely to
retard the market growth in the coming years.
Segmental Analysis
The Specialty Silicone Market has been segmented on the basis of
type, end-use industry, and region.
By Mode Of Type, the global specialty silicone market has been
segmented into silicone polish, silicone greases, silicone elastomers, silicone
textile softeners, silicone surfactants, and others. Among these, the silicone
elastomer segment is presumed to be the leading segment and is anticipated to
maintain its dominance over the assessment period. The growth is attributed to
its extensive use in applications like medical implants, dental, automotive
applications, and aerospace. Superior qualities such as tear resistance, low
surface friction, self-adhesive nature, and thermal resistance makes it ideal to be used in the
construction, consumer goods, automotive, electronics, healthcare, cosmetic and
personal care industry.
By Mode Of End-Use Industry, the global specialty silicone
market has been segmented into heathcare, textile, electronics, construction,
agriculture, personal care, chemical and others. Among these, the construction
industry dominates the global market and is presumed to maintain its dominance
over the review period. Specialty silicone possesses durability and elastomeric
properties to withstand harsh climate. This further makes it an effective use
as an adhesive in the construction and building industry.
Regional Insights
Geographically, the specialty silicone market
span across regions namely, North America, Asia Pacific, Latin America, Europe,
and the Middle East and Africa.
Among all the regions, Asia Pacific is presumed
to hold the maximum market share and is anticipated to be the fastest growing
market. The growth is attributed to the rising population coupled with
increasing disposable income. Also, the booming construction industry in
countries like Indonesia, China, India, South Korea, and Vietnam is triggering
the demand for silicone adhesive across the globe.
North America is a lucrative market and is
anticipated to register an expanding CAGR owing to the presence of major
automobile companies such as Ford, General Motors, and Fiat Chrysler.
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