Silicones Market 2020-2024 | Growing Demand for Silicone Elastomers to Boost Growth

The silicones market and it is poised to grow by USD 5.46 billion during 2020-2024, progressing at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Request for Technavio's latest reports on directly and indirectly impacted markets. Market estimates include pre- and post-COVID-19 impact on the Silicones Market Download free sample report

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. China National Bluestar (Group) Co. Ltd., CHT Group, CRI-SIL Silicone Technologies LLC, Dow Inc., DuPont de Nemours Inc., KC Co. Ltd., Momentive Performance Materials Inc., Rogers Corp., Shin-Etsu Chemical Co. Ltd., Siltech Corp., and Wacker Chemie AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Growing demand for silicone elastomers has been instrumental in driving the growth of the market.

Silicones Market 2020-2024: Segmentation

Silicones Market is segmented as below:

·         Product

o    Elastomers

o    Fluids

o    Resins

o    Gels and Others

·         Geographic Landscape

o    APAC

o    Europe

o    MEA

o    North America

o    South America

Silicones Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The silicones market report covers the following areas:

·         Silicones Market Size

·         Silicones Market Trends

·         Silicones Market Analysis

This study identifies the growing demand for medical-grade silicones as one of the prime reasons driving the silicones market growth during the next few years.