Silicone Industry Overview The global silicone market size is anticipated to reach USD 19.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.3% from 2021 to 2028. The rising demand for lightweight automotive materials to decrease the overall vehicle weight and fuel consumption is likely to drive the market over the forecast period. The rising importance of liquid silicone rubber as Liquid Injection Molding System (LIMS) materials in wire harness for inducing indispensable wiring system is also expected to drive the market. Furthermore, the growing demand for electroactive materials in the electrical industry will fuel market growth. Silicone Market Segmentation Grand View Research has segmented the global silicone market report on the basis of product, end-use, and region: Based on the Product Insights, the market is segmented into fluids, gels, resins, elastomers and others
Based on the End-use Insights, the market is segmented into electronics, transportation, construction, healthcare, personal care and consumer goods, energy, industrial processes and others
Silicone Regional Outlook
Key Companies Profile & Market Share Insights The market is significantly fragmented in nature with the presence of big manufacturing players across the globe. The market player competes mainly on the basis of technology used for the production of silicone and the quality of products. Key market players are inclined towards adopting marketing strategies such as mergers and acquisitions, new and innovative products along with production capacity expansions are some of the popular strategies adopted by a majority of the market players operating in the market. Some of the prominent players in the silicone market include:
Market Industry Development
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