Global Silicone Polymer Market Size, Share To Surpass $35.90 Billion By 2030 | CAGR 6.4%Category: Chemicals & Materials
Global Silicone Polymer Market Worth $35.90 Billion By 2030
According to a research report published by Spherical Insights & Consulting, the Global Silicone Polymer Market Size to grow from USD 18.59 billion in 2021 to USD 35.90 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period.
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The polycarbonate market has grown due to the increasing demand for sustainable polymers with excellent impact and temperature resistance properties in various industries like medical devices, packaging, automotive etc.
Browse 57 market data Tables and 67 Figures spread through 210 Pages and in-depth TOC on “Global Silicone Polymer Market Size, Share, and COVID-19 Impact Analysis, By Type (Gels, Elastomers, Fluids, Resins and Others), By End User (Energy, Pharmaceutical, Industrial Process, Aerospace, Cookware, Automotive, Medical, Electronics, Personal Care, Construction and Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.”
View a detailed Table of Content here – https://www.sphericalinsights.com/table-of-contents/silicone-polymer-market
On credit portfolios, the COVID-19 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and business in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programs. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
The fluids segment to account for the largest market size during the forecast period
Based on type, the silicone polymer market is categorized into gels, elastomers, fluids, resins and others. The fluids segment to account for the largest market size during the forecast period. The increased demand for fluids is due to their excellent properties such as no coagulation and high compressibility makes them suitable for the personal care industry. Continuous research and developments are going on in order to obtain new and innovative fluid-based products for the personal care sector.
The industrial process to hold a higher CAGR during the forecast period.
Based on the end user, the silicone polymer market is categorized into energy, pharmaceutical, industrial process, aerospace, cookware, automotive, medical, electronics, personal care, construction and others. The industrial process to hold a higher CAGR during the forecast period. The demand for silicon-based products and materials because of their outstanding properties is increasing in industrial processes like anti-foaming, offshore drilling, thermal sealing etc. is boosting the growth of the silicone polymer market.
Europe to hold a higher CAGR during the forecast period.
The Global Silicone Polymer Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022. Asia Pacific is expected to be the largest market. The expansion in the region's electronics, automotive and personal care industries accounts for the largest part of the growth of the silicone polymer market, which will keep on increasing in future also.
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Major vendors in the Global Silicone Polymer Market include Dow Inc, Amul Polymers, Elkem ASA, Evonik Industries AAG, Supreme Silicones, CHT Group, Zhejiang Xinan Chemical Industries Co. Ltd.,
Momentive, Kaneka, Wynca Group, and Emerald Performance Materials.
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Frequently Asked Questions (FAQ)
What is the market size of the Silicone Polymer market?As per Spherical Insights, the size of the Silicone Polymer market was valued at USD 18.59 billion in 2022 to USD 35.90 billion by 2030.
What is the market growth rate of the Silicone Polymer market?The Silicone Polymer market is growing at a CAGR of 6.4% from 2022 to 2030.
Which country dominates the Silicone Polymer market?Asia Pacific emerged as the largest market for Silicone Polymer.
Who are the key players in the Silicone Polymer market?Key players in the Silicone Polymer market are Dow Inc, Amul Polymers, Elkem ASA, Evonik Industries AAG, Supreme Silicones, CHT Group, Zhejiang Xinan Chemical Industries Co. Ltd., Momentive, Kaneka, Wynca Group, and Emerald Performance Materials.
Which factor drives the growth of the Silicone Polymer market?Increased demand in the automotive sector is expected to drive the market's growth over the forecast period.
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