The global market for siloxane is projected to reach a valuation of more than US$ 25 Billion by 2027 according to the recent report published by Fact.MR. According to the company’s recent research report, the global siloxanes market is expected to see a steady growth rate in both developed and developing countries during the forecast period. Due to the increasing demand for organic cosmetics and pharmaceutical products, the global sales of the market for siloxanes are expected to increase.
Growing demand for goods from the electronics sector is expected to drive the siloxane market due to its high thermal stability and resistance to weathering, humidity and UV radiation. In addition to this, increasing demand for lightweight materials in the automotive industry and rising R&D activities for product innovation is expected to boost the overall industrial growth in the coming years.
Siloxane, Meeting the Technical Requirements of Various Industry Verticals
Siloxane is commonly used as a sealant, adhesive and lubricant due to its differential properties. This is one of the main factors behind the growth of the global market for silicone. In addition, siloxane has several commercial applications ranging from electrical wire insulation to biomedical implants. Siloxane is increasingly used in paints & coatings, rubber & plastics, adhesives & sealants and fiber treatment activities.
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Growth in the overall market for siloxane is powered by an increase in demand from end-use industries such as electronics & semiconductors. Because of its temperature stability and excellent insulation, its ability to be adapted or changed for resistance requirements makes it extremely versatile for use in applications such as automotive, chemical & process engineering, medical, and other applications such as cosmetics and textiles which cover more than 20% of the application type market share.
Developed markets in regions such as North America and Europe are expected to dominate the demand for siloxanes in terms of volume, whereas emerging regions such as APEJ and Latin America are expected to grow rapidly in the market for siloxanes throughout the forecast period. In addition, the global market for siloxanes is expected to see growth due to the rapidly increasing use of siloxanes in pharmaceutical, cosmetic and other industries. Nonetheless, the prices of siloxanes on the international market are growing due to additional costs for manufacturers to obtain certifications and to obtain approvals. The increasing price of raw materials used for manufacturing is likely to impede the growth of the siloxanes market worldwide.
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Consolidated Market Structure with A Few Competitors Holding a Large Share of the Market
Siloxane manufacturers are focusing primarily on emerging nations with a view of enhancing their revenue portfolio. New siloxane manufacturing plants are constantly being launched by main vendors in the market. The global market for siloxane is one of the most competitive markets, as a limited number of manufacturers have a significant market share worldwide. The problem has been a market that has seen rising growth for several years. However, the supplies have slowed down considerably with the increasing demand. Some of the key market participants in the global Organo-modified siloxanes market are Dow Chemical Company, Elkem AS, Wacker Chemie AG and Momentive Performance Materials.
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