Market Insights:

The global specialty silicone market is accruing pervasively, witnessing massive demand from industries, such as personal care, electronics, health care, and building & construction, among others. Enormous demand generated by these industries is acting as a key tailwind to the growth of the market.

Advantageous properties, such as resistance to intense heat (temperature), environmental resistance, and low compression are allowing specialty silicone to garner a vast market prominence. The automotive industry is escalating the market on the global platform, consuming a considerable amount of the product.

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Industry/ Innovation/ Related News:

August 16, 2019 ---- Elkem ASA (Norway), a leading global provider of silicones and silicon solutions announced the acquisition of Basel Chemie (Korea), a leading producer of specialty silicone gels for cosmetics and water repellents. The acquisition gives Elkem access to leading technology in attractive end-user silicone segments, providing a solid platform for further development and growth.

Acquiring Basel is in line with Elkem’s strategy to take further positions in selected, specialized silicone segments. Further, the acquisition is expected to strengthen Elkem’s position in downstream specialized silicones. Basel’s products complement Elkem’s market offerings, and hence, their addition would bring additional technologies to its specialty portfolio in Asia where Elkem is strongly positioned.

Specialty Silicone Market – Segmentation

The report is segmented into three market dynamics to widen the scope of understanding,

By Type                                 : Silicone Elastomers, Silicone Greases, Silicone Surfactants, Silicone Polish, and Silicone Textile Softeners, among others.

By End-use Industry        : Textiles, Healthcare, and Electronics, among others.

By Regions                                          :  North America, Europe, APAC, and Rest-of-the-World.

Major Players:

Players leading the global specialty silicone market include Wacker Chemie AG (Germany), Dow Corning Corporation (US), Momentive (US), Elkem AS (Norway), Shin-Etsu Chemical Company (Japan), Evonik Industries AG (Germany), AB Specialty Silicones (Illinois), Siltech Corporation (Canada), and KCC Basildon (UK), among others.

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Regional Analysis

The Asia Pacific region is the dynamically largest market for specialty silicone, globally. The APAC has the edge over other regions in terms of size and revenues of the market. The growing population and economy in the developing nations are driving the growth of the specialty silicone market. Moreover, the burgeoning construction industry in China, Vietnam, South Korea, Indonesia, and India is creating huge market demand. Additionally, increasing government expenditure and the exponential growth in healthcare, personal care, textiles, and electronics is also significantly contributing to the regional market growth.

The specialty silicone market in the North American region is another lucrative market, globally.  The presence of well-established automobile industry in the region is creating huge market demand. Furthermore, rising investments in the building & construction industry for infrastructure development activities, especially in the US and Canada are further boosting the regional market growth.  Also, the electrical and electronics industry in the region is absorbing a vast amount of specialty silicone, witnessing rising demand for consumer electronic devices.

The European specialty silicone is emerging as a promising market, globally. The market is majorly driven by the well-developed automobile, healthcare, and cosmetic industry in the region. Besides, the augmenting consumption of specialty silicones in the cosmetic and personal care industry is driving the growth of the market. Owing to the accelerating demand for lightweight and fuel-efficient vehicles and aircraft, the automobile and aerospace industry accounts for the largest consumer for specialty silicones. Moreover, the proliferating medical device industry is propelling the regional market growth.

Competitive Analysis

Highly competitive, the specialty silicone market appears to be fragmented due to the presence of several well-established players. To gain a competitive advantage, these players incorporate strategic approaches, such as mergers & acquisition, collaboration, expansion, and technique & product launch. Besides, greater commercialization of their products, promotion initiatives through trade exhibitions, and increased collaboration are other important strategies adopted by vendors in the market.

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