Scienza e Tecnologia
Global Silicone Polymer Market to Reach US$ 19,329.78 Million by 2028 - Coherent Market Insights
The rapidly expanding building & construction industry in emerging and developed economies such as India , China , Mexico , Brazil , the U.S., Canada , and Germany is expected to boost the silicone polymer demand during forecast period. For instance, according to the Global Alliance for Buildings and Construction, the global construction market size is expected to reach US$ 13,572.4 billion by 2024. Increasing urbanization due to growing population globally, rapid technological advancements in infrastructure development and rise in disposable income is expected to drive the global construction market revenue growth over the forecast period. Moreover, the increasing demand for lightweight automobile parts and growing research and development activities to develop new and innovative products is expected to propel silicone polymer demand during the forecast period. Lightweight materials such silicone elastomer, resin, and silicone emulsions are used to reduce automobile weight, which results in decreasing the overall fuel consumption. High thermal stability associated with silicone polymers is estimated to boost its demand in automobile applications during the forecast period.
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The global silicone polymer market is expected to exhibit a CAGR of 5.1% over the forecast period (2021-2028). Silicone polymer possess excellent properties such as chemical inertness, resistance to water and oxidation, and stability at both high and low temperatures. Due to these properties they are used in wide range of commercial applications, from lubricating greases to electrical-wire insulation and biomedical implants.
Europe is the second largest region in the global and is expected to show the same trend over the forecast period (2021 - 2028). Increasing adoption rate, owing to the rapidly expanding building & construction industry, automobile industry, and industrial process industry. The growing renovation and reconstruction activities in Germany , France , and other European countries is expected to boost the demand for silicone polymers during forecast period.
Key players operating in the market include , and others to increase their product portfolio and business operations.
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