North America Silicones Market To Be Driven By A Rise In Demand In Personal Care, Healthcare And Medical, Transportation, And Renewable Energy Sectors During The Forecast Period Of 2021-2026
Research Reports
Mar 26, 2022
The new report by Expert Market Research titled, ‘North America Silicones Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the North America silicones market, assessing the market based on its segments like type, application, segment, and regional markets among others. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 4%
Growing demand for silicones in the personal care, renewable energy, and healthcare sectors is driving the North American silicones market. In 2017, the region accounted for about a quarter of the worldwide market, and it was both the largest market and the top exporter of silicone additives. In 2017, it was also the largest market for medical grade silicones. Due to increased demand in plastics and composites, paper and pulp, paints and coatings, chemical production, and food and beverages, North America is the primary market for silicone additives. The region is also a prominent market for medical grade silicones, owing to robust development in the healthcare sector and the presence of numerous significant producers.
Industry Definition and Major Segments
Silicones are polymers made up of repeated siloxane units or chains of silicon and oxygen atoms. It has features like water resistance, tensile strength, high binding capacity, and transparency, among others, due to its molecular structure. It is suited for high temperature and high voltage power production applications due to the strong bonding between oxygen and silicon atoms. Furthermore, silicone grease is commonly utilised in gas-insulated switchgear flange connections. Silicone grease is a semifluid consisting of a thickening agent dispersed in a liquid lubricant. It protects against corrosion and, as a result, SF6 gas leakage.
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On the basis of Type, the North America Silicones market is segmented into:
• Elastomers
• Fluids
• Gels
• Resins
Based on Application, the North America Silicones market is categorised as:
• Industrial Process
• Construction Materials
• Home and Personal Care
• Transportation
• Energy
• Others
On the basis of Segment, the North America Silicones market is divided into:
• D5
• Emulsion
The major regional markets of the North America Silicones market are:
• United States
• Canada
Market Trends
A growth in demand in the personal care, healthcare and medical, transportation, and renewable energy sectors is driving the North American silicones market. Silicones are in high demand in the medical industry for cosmetic implants, cardiac implants, and other medical equipment placed into patients’ bodies. Silicone-based automotive components are also gaining popularity in the region’s transportation industry. Silicones are employed in windmill shafts and solar power cells in North America’s energy industry. Other important application sectors in the region include construction and electronics. In terms of silicones, the region is self-sufficient and trades its surplus to regions with a supply shortage, such as Mexico. Due to increased demand in the healthcare and personal care industries, the area exports pharma-grade silicones to Asia Pacific countries such as China, Korea, and Japan. China purchased 17% of its silicones from the United States in 2016. Even though, Europe and North America are both self-sufficient in terms of silicones need, commerce flows between the two regions due to downstream demand for silicones of specified quality and grade.
Key Market Players
The major players in the market are Elkem Silicones, Dow Chemical Company, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd, Momentive Performance Materials Inc., Evonik Industries AG, NuSil Technology LLC, Advanced Polymer Inc., SiVance, LLC, Siltech Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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