© 2018 Global Market Insights, Inc. USA. All Rights Reserved Specialty Silicone Market Outlook To 2025: Emerging Trends, New Growth Opportunities, Regional Analysis

Global Market Scenario of Specialty Silicone Industry © 2018 Global Market Insights, Inc. USA. All Rights Reserved  Progress in the global construction industry will augment the Specialty Silicone Market during the forecast period. The global construction industry reached an output of USD 8.8 trillion in 2016 and is likely to rise in future. The pace of development in the global construction industry was at 2.4% in This will drive product demand to be used as a construction material in coming years.Specialty Silicone Market  Global Specialty Silicone Market size will portray an upward trend in its growth trajectory in the upcoming years due to the advancements in construction industry. The product is used in various industries mainly due to its unique characteristics such as less toxicity, UV radiation resilience, defensive glazing application, waterproofing, heat resistance and others which upgrades the performance of the products and make them more economically viable, flexible and efficient.  Rising investments in the defense and aerospace sector, especially in the emerging countries would result in escalating the demand for products like military aircraft, defense electronics, medical devices, etc. For example, the budget for Indian defense sector accounted for USD 62.8 billion in while China’s defense budget amounted USD 175 billion which has increased by 8.1%.  Other countries such as Japan, Vietnam, Thailand, and South Korea are also increasing their defense spending in the recent years owing to instabilities in disputed regions such as the South China sea. Such developments are likely to boost product demand to be used in the defense equipment manufacturing in coming years. Other industries like automotive, health care, electronics, etc. where the product is used are also growing significantly and will propel the product market growth in the forecast period.

© 2018 Global Market Insights, Inc. USA. All Rights Reserved Product Analysis:- Specialty silicones are finest products with multi-purpose application which makes it expensive. Specialty silicone elastomer’s major limitation is its chemical compatibility and are not suitable for certain applications. Moreover, specialty silicone used in skincare products are harmful for the skin. These issues could have a considerable effect on the specialty silicone market and could hamper the industry growth during the forecast period. The specialty silicone market has been segregated based on type, end-user and region. Antifoam/ defoaming agents, greases, polish/shinning agent, water repellants, elastomers, surfactants, textile softeners, and thin membranes are the various types of products available in the market. Regional Trends:- Asia Pacific held a substantial market share in 2017 and is likely to be the fastest growing region. Urbanization, improving living standards of people, developing infrastructure and rising population in emerging nations of this region are the major reason driving the growth of specialty silicone market in Asia-Pacific. Also, the construction industries in these countries are booming which would add on to the rising product demand in this region. North America and Europe are key markets owing to a nearly mature automotive, defense, and construction sectors and is likely to hold substantial shares of the overall industry during the forecast period.

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© 2018 Global Market Insights, Inc. USA. All Rights Reserved Competitive Trends: Some of the key market participants in the global specialty silicone market includes Siltech, Momentive Performance Materials, KCC Basildon, Evonik Industries, AB Specialty Silicones, Wynca Group, Trelleborg Sealing, Specialty Silicone Products Inc., NUSIL, Quantum Silicones LLC and Dow Corning Corp. Capacity expansions are a key strategy that market players use to strengthen their positions. For example, in September 2017, Evonik Industries AG completed its construction of the Shangai plant which would produce specialty silicones. AB Specialty Silicone also expanded the capacity of its plant and would make more developments in upcoming years in the Waukegan III plant.

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