Global Dimethyl Silicone Market Analysis (2023 - 2030)
As per our research report, the Global Dimethyl Silicone Market size is estimated to be growing at a CAGR of 10.85% from 2023 to 2030.
The pandemic had a significant impact on the Dimethyl Silicone market. Due to travel restrictions and social distancing norms across geographical boundaries, consumer goods industries were closed down, which affected the manufacturing and distribution of dimethyl silicone products in the market. Furthermore, supply chain disruptions in the chemical industry affected the production of chemicals and led to delays in the distribution of dimethyl silicone.
However, dimethyl silicone witnessed an increase in demand from the healthcare sector due to its wide applications in the production of medical devices. These include the use of dimethyl silicone in medical implants, tubing, catheters, test chambers, and others. Additionally, increased demand for PPE kits such as gloves, masks, face shields, and others has contributed to the growth of dimethyl silicone in the market. Moreover, they were also used for research purposes and clinical trials in laboratories such as in seals and gaskets.
Apart from this, work-from-home culture led to a surge in demand for electronic devices from e-commerce platforms which raised the demand for dimethyl silicone in semiconductors of electronic devices due to their excellent optical, electrical, and mechanical properties. Moreover, dimethyl silicone oil was increasingly used in electronic devices such as mobiles, laptops, and televisions for electrical insulation, shockproofing, damping, and other purposes.
The restraints to this market include the presence of alternative products in the market.
KEY MARKET INSIGHTS:
- Based on market segmentation by product, the elastomer segment holds the highest share in the market. Silicone elastomers are silicon-based polymers that are widely in the automotive sector due to the increasing demand for lightweight car components and fuel efficiency. Further, these elastomers are made of linear polymers, crosslinkers, reinforcing agents, and a catalyst and are further classified based on room temperature – Room Temperature Vulcanization (RTV), Liquid Silicone Vulcanization (LSV), and High-Temperature Vulcanization (HTV). The HTV silicone elastomers are increasingly used in the EV sector as it offers increased performance, high resistance are lightweight, and have high corrosion resistance. Furthermore, fuel is the second largest segment during the forecast period. Silicone fluids are clear and odorless that are widely used in cosmetics and paints and coatings. These liquids are offers excellent thermos oxidative resistance, which ranges from -60 degrees to +300 degrees. Further, they possess reliable sheer stability, minimum volatility, low floor tension, and water repellence.
- Based on market segmentation by end-user, the industrial process segment holds the highest share in the market. Silicone is increasingly used as a lubricant in offshore drilling, industrial coatings, and antifoaming, which contributes to the growth of dimethyl silicone in the market. Furthermore, the construction segment is the second-largest and fastest-growing segment during the forecast period. Silicone is increasingly used in the construction sector for painting, coating, and insulating purposes. They are deployed in large enterprises’ electricity systems due to their moisture and electricity resistance properties. Moreover, in the residential setting, silicone is used in combination with glass, concrete, marble, aluminum, steel, and polymers for building and infrastructure development. Further, countries like China have increasingly contributed to the growth of dimethyl silicone, as it has invested in 26 infrastructure projects, which has increased the demand for dimethyl silicone in the market.
- Based on market segmentation by region, Asia-Pacific holds the highest share of the market. Rapid urbanization, increasing population, rising number of smartphone users, and government support to infrastructural activities in the form of grants, investments, and others have contributed to the demand for dimethyl silicone in the region. Additionally, the rapidly developing EV industry has raised the demand for silicone in the production and manufacturing of car components for fuel efficiency. Furthermore, the growing cosmetics industry has boosted the demand for dimethyl silicone oil, as it possesses low surface tension and viscosity that makes it easy for consumers to spread it evenly on the skin, without worrying about the sticky feeling on the skin.
- Furthermore, Europe is the second-largest and fastest-growing segment during the forecast period. The expanding construction sector in countries such as the UK, Germany, Spain, France, and Russia has increased the demand for dimethyl silicone in the region. Moreover, government support such as funding from the EU with other supportive measures such as tax breaks, incentives, and subsidies have boosted the market demand for dimethyl silicone in the region. In addition, the increase in demand for implants from the healthcare sector and the rapid adoption of renewable energy by countries in Europe have boosted the demand for dimethyl silicone in PV panels and windmills.
- Companies playing a leading role in the Global Dimethyl Silicone market profiled in this report are – DowDupont, Shin-Etsu Chemical co, Ltd, KCC Basildon, MBI Silicons, LLC., Runhe Chemical Industry, Jiangxi Tianshneg material ltd, and others
MARKET SEGMENTATION
By Product
- Fluids
- Gels
- Resins
- others
By End-User
- Electronics
- Transportation
- Construction
- others
By Region
-
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
For More Info, Request Sample Copy Of This Report @ https://virtuemarketresearch.com/report/dimethyl-silicone-market/request-sample
