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Global Silicone Market size was valued at USD 18.79 billion in 2021 and is poised to grow from USD 19.94 billion in 2022 to USD 32.02 billion by 2030, growing at a CAGR of 6.1% in the forecast period (2023-2030).
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Global Silicone Market Size, Share, Growth Analysis, By Product, By Application, By End User - Industry Forecast 2023-2030 Global Silicone Market size was valued at USD 18.79 billion in 2021 and is poised to grow from USD 19.94 billion in 2022 to USD 32.02 billion by 2030, growing at a CAGR of 6.1% in the forecast period (2023-2030). Silicones are polymers or higher oligomers that can take on a variety of physical forms, ranging from solids to semi-viscous pastes, water-thin liquids, greases, and oils. They exhibit a wide range of special qualities, including the ability to seal, lubricate, bond, release, defoam, and enclose. These are electrically conductive, don't age-relatedly harden, peel, crumble, rot, or become brittle, and may even insulate, waterproof, and coat.The main factor driving the market growth is silicone's creative and sustainable properties. Along with these factors, the development of antimicrobial silicone elastomers for the healthcare sector and increased demand for silicones in emerging clusters of Asia-Pacific, the Middle East, and Africa are anticipated to fuel the market expansion The market is, however, constrained by expensive initial R&D costs and stringent restrictions, and market expansion will be challenging given the high cost of silicon. Additionally, the market will benefit greatly from the growing demand in the transport industry.
Analysis by Product By representing for more than 41.0% of global revenue in 2021, the elastomers segment dominated the market. A mixture of cross linkers, reinforcing agents, linear polymers, and a catalyst is used to create silicone elastomers, which are silicone-based polymers that have been vulcanized. These elastomers have been divided into three groups based on the processing temperature and the kind of basic straight-chain molecule: High- Temperature Vulcanizing (HTV), Liquid Silicone Rubber (LSR), and Room- Temperature Vulcanization (RTV). RTV silicone rubber is a two-component solution that comes in a variety of hardness from soft to medium. Analysis by End User In 2021, the industrial process segment dominated the market with 25.0% of total revenue. Silicones are widely employed in many industrial processes for a variety of purposes, including lubricants, antifoaming agents, paper manufacture, industrial coatings, and paint additives. By providing various components with improved durability, thermal resistance, and resistance to corrosion and chemicals, silicone is utilized in paints and coatings to raise performance and lower maintenance costs for industrial infrastructure and machinery. View more info: https://www.skyquestt.com/report/silicone-market Top Player’s Company Profiles •Wacker Chemie AG •Momentive Performance Materials Inc. •Evonik Industries AG •Bluestar Silicones •KCC Corporation •Rogers Corporation •Reiss Manufacturing Inc. •Siltech Corporation
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