Press Release

According to the research report by IMARC Group, titled “Silicones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global silicone market reached a value of US$ 19.6 Billion in 2018. Looking forward, the market projected to reach a volume of 2.8 Million Metric Tons by 2024, growing at a CAGR of 4.9% during 2019-2024.

Also known as polysiloxanes, silicones are polymeric organic compounds made from silicon and oxygen atoms. They are chemically inert, resistant to water, oxidation and temperature, and manufactured as fluids, resins and elastomers. Owing to this, they are employed in the construction and food industries across the globe. They are also utilized in protective coatings, lubricants, varnishes, binders, glass cloth lamination, electrical-wire insulation and biomedical implants.

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Silicones are widely used in the automotive industry for reducing the weight and improving the fuel efficiency of the vehicle. In addition to this, they are utilized in the electronics, construction and medical industries on account of their high thermal stability, durability, low volatility and biocompatibility. Furthermore, they are employed for absorbing vibrations and lubrication of moving parts in the aerospace industry. Besides this, some of the leading companies are collaborating with healthcare companies to develop silicone-based wearable devices. This is expected to create a positive outlook for the market in the coming years.

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Breakup by Type

  • Elastomers
  • Fluids
  • Gels
  • Resins

Breakup by Application

  • Industrial Processes
  • Construction Materials
  • Home and Personal Care
  • Transportation
  • Energy
  • Healthcare
  • Electronics
  • Others

Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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This post was originally published on Stock Markets News

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IMARC Group is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. We make an effort to fulfill specific and niche requirements of the industry while balancing the quantum of quality with stipulated time and trace major trends at both the domestic and global levels. The information products and services provided by IMARC cover major technological, scientific and economic developments in industrial, pharmaceutical and high technology organizations.