Silicones (Elastomers, Fluids, Resins) Market Worth $19.4 Billion by 2017 - New Report by MarketsandMarkets
(PRWEB) February 21, 2014 -- The report “Global Silicone Market by Type, Application & Geography – Forecasts up to 2017” defines and segments the global silicone market with analysis and forecasting of the global volumes and revenues for silicones. It also identifies driving and restraining factors for the global silicone market with analysis of trends, opportunities, winning imperatives, and challenges. The market is segmented and revenues are forecasted on the basis of major geographies such as North America, Europe, Asia-Pacific, and Rest of the World (ROW). The key countries are covered and forecasted for each region. Further, market is segmented and revenues are forecasted on the basis of applications and product types.
Browse 112 market data tables/figures spread through 384 pages and in-depth TOC on “Global Silicone Market by Type, Application & Geography – Forecasts up to 2017”.
http://www.marketsandmarkets.com/Market-Reports/silicone-market-709.html
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The market for silicones is being driven by the growing end-user industries and rapidly developing emerging economies such as China, India, and Brazil. Silicones possess a wide range of physical and chemical properties. These materials are characterized by low surface tension, chemical inertness, excellent water repellency, good electrical properties, and weatherability, etc. Owing to the superior properties and attributes of silicones, its products are stronger, user-friendly, durable, more stable, and more visually pleasing. The strong performance attributes of silicones enable their application across a host of industries such as construction, chemical industry, automotive, electronics, personal care, medical, etc. Building and construction is the largest end-use application for silicones. The extensive usage of silicones in adhesives, sealants, coatings, caulks, etc.; which are widely used in the building and construction industry is expected to drive the consumption growth of silicones in this industry. The rising demand from the rapidly growing medical and personal care, and automotive and transportation markets are also expected to help the market.
Asia-Pacific is a highly attractive market and presents a huge opportunity for the market players as the population becomes more capable to afford the sophisticated products offered by them. The rising living standards, growing household incomes and an expanding middle class in the rapidly emerging economies of Asia-Pacific are fuelling demand for high-quality products containing silicones. China is the most attractive market in Asia-Pacific with enormous potential and massive growth opportunities.
The global market for silicones in terms of revenues was estimated to be worth $13,080.0 million in 2011 and is expected to reach $19,424.0 million by 2017, growing at a CAGR of 6.8% from 2012 to 2017. Asia-Pacific dominates the global silicone market, accounting for 40.1% of the overall market in 2011. The growth in the Asia-Pacific market is expected to be fuelled by countries like China and India.
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