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Silicone Market worth $27.0 billion by 2027 - Exclusive Report by MarketsandMarkets™
Elastomers segment is the largest and fastest-growing segment of the market globally, followed by silicone fluids. Silicone elastomers are widely used due to their unique properties. Their growth is driven by increasing use in the building & construction and transportation industries as well as by their increasing demand in the medical & healthcare end-use industries, particularly liquid silicone rubber, which is popular due to its ability to form high precision parts, flexibility, and easy processing.
The industrial process is the largest end-use industry for the silicone market. Silicones are extensively used for lubricants, antifoaming agents in offshore drilling, paper production, industrial coatings, and paint additives. The building & construction industry is the second-largest silicone end-use industry. Silicone materials are used in different forms in this industry, with products ranging from paste-like materials to flowable adhesives.
The silicone market has been studied in Asia Pacific , North America , South America , Europe , and Middle East & Africa . Asia Pacific leads the overall silicone market in terms of both value and volume, followed by Europe . The rising disposable income of people, shifting of manufacturing facilities from the developed regions, such as North America and Europe , and rapidly growing industrial sectors are expected to drive the market in this region.
The key players profiled in the Silicone Market report are Wacker Chemie AG ( Germany ), Shin-Etsu Chemical Co., Ltd. ( Japan ), Elkem ASA ( Norway ), The Dow Chemical Company (US), Momentive Performance Materials, Inc. (US), Gelest, Inc. (US) and others.
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