Market Analysis
The global silicone derivative market is likely to grow at a 6% CAGR between 2016 2023, according to the new report by Market Research Future (MRFR). Silicon or polysiloxane are polymers made through repetitive units of siloxane. The derivatives of silicon are made from the chain comprising silicon atoms bonded alternatively with hydrogen, carbon, and oxygen. These derivatives are heat and temperature resistant. They have wide applications in personal care, chemical, energy, electronics, automobile, building and construction, and others.
Key Players
Leading players profiled in the global silicone derivative market report include Hisilco (China), Multimin-Egypt for Mining S.A.E (Egypt), Aromachimie Company Ltd. (U.K.), Xuancheng Crystal Clear New Materials Co., Ltd (China), Saint-Gobain Silicon Carbide (France), Zhenzhou Yellow River Emery Co., Ltd (China), Triveni Chemicals (India), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (China), and Dow Corning Corporation (U.S.).
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Various factors are adding to the silicone derivative market growth. According to the new MRFR report, such factors include increasing use in the automotive industry, no harmful impacts on humans, organisms, or the environment, and it is biodegradable.
On the contrary, increasing use of highly engineered polymers, less competitive, and high production cost are factors that may limit the global silicone derivative market growth over the forecast period.
COVID-19 Analysis/ COVID-19 Impact on Silicone Derivative Market
The global novel coronavirus outbreak has resulted a pause in the manufacturing activities the world over, impacting the demand for plastics, its production, and processing. Electronics, construction, industrial equipment, consumer goods, and automotive and transportation are the most critically impacted. This in turn, has affected the silicone derivative market, which is likely to recover towards the end of 2020.
Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global Silicone derivative market Share report based on applications and type.
By type, the global silicone derivative market is segmented into silicon nitride, silicate, silicon carbide, silicon dioxide, and others. Of these, silicone dioxide will lead the market over the forecast period. About 95% of silica produced is used in construction activities to produce Portland cement.
By application, the global silicone derivative market is segmented into personal care, chemical, energy, electronics, automobile, building and construction, and others. Of these, building and construction will have a major share in the market over the forecast period.
Regional Analysis
Based on the region, the global silicone derivatives market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will lead the market over the forecast period. Increasing use of silicone derivatives, booming building & construction industry, heavy investments in infrastructural developments, burgeoning demand for automobiles, and focus on renewable energy source are adding to the growth of the market in the region. India, Japan, and China are the major contributors in the region.
The global silicone derivatives market in Europe is predicted to hold the second-largest share over the forecast period. The presence of an established automotive industry, demand for high-end automobiles, increasing standard of living, and burgeoning demand for lightweight and electric vehicles are adding to the growth of the market. Besides, silicone derivatives do not harm the environment, thus easily caters to the stringent regulatory measures of the region’s matured economies, which again are adding market growth.
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The global silicone derivatives market in North America is predicted to have substantial growth over the forecast period. Construction and automobile hold a key share of demand in the region. The US is the key contributor in the region for the presence of aircraft and car-making industries that demand durable and lightweight material.
The global silicone derivatives market in Latin America is predicted to grow at a high pace over the forecast period. The increase of end use industries for silicone derivatives in Argentina and Brazil are adding to the growth of the silicone derivative market in the region.
The global silicone derivatives market in the MEA is predicted to have sound growth over the forecast period.
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