The global market for specialty silicone is on a path to record substantial growth during the forecast period from 2022 to 2030 as it has started influencing several sectors with its unique features. Market Research Future (MRFR) predicts several factors that can impact the market outcome in the coming years. For instance, the growing building and construction industry, the booming automotive sector in Asia Pacific, the emerging electrical and electronics industry, and others can play a strong hand in securing the market growth.
However, COVID-19 analysis of the specialty silicone market declares some changes in the predicted track. Lack of funding in some sectors may prevent the market from achieving its normal trajectory.
Competitive Leader Board:
The global market for specialty silicones can be assessed on the basis of the contributions made by various influential companies such as Wacker Chemie AG (Germany), Dow Corning Corporation (US), Shin-Etsu Chemical Company (Japan), Momentive (US), Evonik Industries AG (Germany), Elkem AS (Norway), AB Specialty Silicones (Illinois), Siltech Corporation (Canada), and KCC Basildon (UK).
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Market Segmentation:
The global specialty silicone market has been studied on the basis of type and end-use industry. MRFR analysts have dealt with several aspects in detail to understand the factors contributing to changes that are affecting the market. They have backed their views with charts and figures to make the study more comprehensive.
By type, the market for the global specialty silicone has been segmented into silicone elastomers, antifoam / defoaming agents, silicone surfactants, silicone greases, thin silicone membranes, silicone textile softeners, silicone water repellants, silicone polish, and others. The global market is getting driven by silicone elastomers for their widespread use in various end user industries like textile, electronics, automotive, and others.
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Regional Analysis:
Asia Pacific has the maximum market share and the region is slated to benefit from various growth pockets in countries like China, South Korea, India, and others. The booming automotive industry and government encouragement for the building and construction industry is expected to boost the regional market growth.
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