Silicone Derivative Market Size to Grow at a CAGR of 6.20% in the Forecast Period of 2022-2030
Research Reports
Oct 12, 2022
The Silicone Derivative Market will grow at a CAGR of 6.20% between 2022 and 2030, registering significant value during the forecast period.
Silicone has good electrical insulation, thermal conductivity, the ability to withstand high and low temperatures, and flame retardance, which is why it is gaining popularity in various industrial applications. Silicone is used in electronics, semiconductor applications, highly sensitive circuits, electronics components, ignition wire, refrigerator wire, and heater wires, among other things. As a result of the global increase in demand for electronics, semiconductors, and consumer goods, the demand for silicone is expected to rise significantly over the forecast period.
The novel coronavirus has had an impact on many industries, as well as their revenue. Many activities were halted as a result of the pandemic. The virus primarily impacted the manufacturing industries, forcing them to halt operations. The halt in manufacturing impacted both the demand for plastics and the production of plastics. The government’s strict rules for shutting down industries and preventing people from leaving an impact on the automotive, construction, electronics, and transportation industries. The coronavirus severely impacted all of these markets. The decline in demand in all of these industries had an impact on the Silicone Derivative Market Share. COVID-19 had a negative impact on the market because it reduced market revenue.
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Market segmentation:
The global Silicone Derivative Market is segmented by type and end-use industries.
According to the type:
- Silicate, Silicon Nitride
- Silicon Carbide
- Silicon Dioxide (Silica)
- Others
According to the end-use industries:
- Personal Care
- Automobile
- Building & Construction
- Electronics
- Chemicals
- Energy
- Others
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Regional analysis:
The Silicone Derivative Market is examined in North America, Europe, Asia-Pacific, the Middle East, Latin America, and Africa.
The Asia-Pacific dominates the market with the largest market share. Due to the region’s continuous improvement in building and construction, it held 40% of the total global market share in 2016. The demand for Silicone Derivatives in China and India is propelling the market in the region. Europe is ranked second in the Silicone Derivative Market, with a combined market share of 65%. The expansion will drive the regional market because France is a hub for electronic and lightweight vehicles.
The increasing use of silicone derivatives to manufacture machine parts in automobiles is propelling the market in North America. Latin America also supports market growth, as demand rises in Argentina and Brazil. Developing end-user industries for silicone derivatives in the Middle East and Africa will aid market growth during the forecast period. Other market regions will also contribute to and contribute to market growth.
Key Players
Dow Corning Corporation (U.S.), Shin-Etsu Chemical Co., Ltd. (China), Wacker Chemie AG (Germany), Triveni chemicals (India), Zhenzhou Yellow River Emery Co., Ltd (China), Saint-Gobain Silicon Carbide (France), Xuancheng Crystal Clear New Materials Co., Ltd (China), aromachimie Company Ltd. (U.K.), Multimin-Egypt for Mining S.A.E (Egypt), Hisilco (China).
Recent developments:
Boston Industrial Solutions, Inc. created engraved watch bands with silicone ink for artists, do-it-yourself enthusiasts, hobbyists, and GlowforgeTM laser engravers in January 2022. This silicone ink is intended for coloring engraved items, spray painting, and painting on silicone rubber substrates. This silicone ink adheres to silicone very well. The ink is permanent once dry. Siliart silicone inks are a direct descendant of the industry-leading NatronTM SE Silicone pad printing inks. These inks, like SE Silicone inks, are flexible, extremely durable, and do not yellow when exposed to sunlight. SE silicone inks are non-toxic and heavy metal-free, making them ideal for printing on toys, food packaging, industrial, and medical devices.
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