The new report by Expert Market Research titled, ‘Europe Silicones Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Europe silicones market size, assessing the market based on its segments like Type, Application, Segment, and Regional markets among others.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast Market Size (2026): 1.1 million metric tons
Silicones are widely used as anti-foaming agents in the oil and gas, pulp and paper, and other industries. Silicones are employed as coatings, sealants, and adhesives in the solar energy industry, and they account for about 90% of solar panels. It’s also utilised to produce lightweight components for cars and other vehicles, resulting in improved fuel economy and lower emissions.
Silicones are used to build medical equipment such as pacemakers and insulin pumps, as well as prosthetics and artificial joints in the medical and health care industries.
Industry Definition and Major Segments
Silicones are polymers made up of silicon and oxygen atoms in repeating siloxane units or chains. Due to its molecular structure, it possesses properties such as water resistance, tensile strength, high binding capacity, and transparency, among others. Because of the strong interaction between oxygen and silicon atoms, it is well suited for high temperature and high voltage power generation applications.
Silicone grease is also often used in the flange connections of gas-insulated switchgear. Silicone grease is a semifluid made up of a thickening agent suspended in a lubricating liquid. It guards against corrosion and SF6 gas leakage as a result.
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On the basis of Type, the Europe Silicones market is segmented into:
• Elastomers
• Fluids
• Gels
• Resins
Based on Application, the Europe Silicones market is categorised as:
• Construction
• Electronics and electrical sector
• Pulp and paper
• Home and Personal Care
• Transportation and automotive
• Energy
• Healthcare
• Textile
• Others
On the basis of Segment, the Europe Silicones market is divided into:
• D5
• Emulsion
The major regional markets of the Europe Silicones market are:
• United Kingdom
• Germany
• France
• Italy
• Others
Market Trends
Rising demand for cosmetic implants in the healthcare sector, as well as usage in windmills and solar panels in the renewable energy sector, are driving the silicones market in Europe. Silicones are used extensively in the transportation, construction, electronics, personal care, and medical industries.
The medical segment’s growth would be fueled by more usage for liquid silicone rubber. Germany and France are the region’s primary silicones industrial centres, while other European states either import silicones from these two countries or from outside Europe. Silicones are exported from Africa to Asia Pacific, Latin America, and the Middle East due to a supply surplus on the continent.
Exports from Europe to countries like China and Korea may, however, decline in the coming years as the silicones market in Asia develops. Due to the growth in the transportation and cosmetics industries, Europe imports specialised silicone formulations from the United States.
Since a large number of automotive component manufacturers have factories in Germany, the nation has the highest demand for silicones for automotive applications. Germany is also adjacent to Poland, which has Europe’s largest automobile market.
Key Market Players
The major players in the market are Elkem Silicones, Dow Chemical Company, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd, Momentive Performance Materials Inc., Evonik Industries AG, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Also Read:
https://sites.google.com/view/globalnewswire/blog/silt-curtain-market
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