According to a new report by Expert Market Research titled ‘North America Silicones Market Report and Forecast 2020-2025’, the North America silicones market witnessed a CAGR of about 4% between 2020 and 2025. It is projected to further grow in the forecast period of 2020-2025 to reach a volume of 0.5 million metric tons by 2025.
The North America silicones market is being driven by the growing demand for silicone elastomers in the USA and Canada. Silicones are synthetic polymers with chains of alternating silicon-oxygen atoms. They find their application across various sectors due to their many favourable properties like thermal and UV stability, flexibility, adhesion, water repellence, antifoaming, and lubrication. While the market growth in the region is slower than in the emerging economies, the mature silicones market finds healthy demand from sectors such as personal care, renewable energy, and healthcare. The recovering automobiles and construction industries in the region are also driving the market growth.
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Medical-grade silicones are one of the fastest growing sectors in North America. In 2017, the region was a leading market for medical-grade silicones. Silicones find widespread application in the medical and healthcare industries due to their biocompatibility. They are used to manufacture moulds, tubing, prosthetics, respirators, and hearing aids, among other medical equipment. Silicones are also used to make cooling caps which are utilized after undertaking chemotherapy treatments along with easy to remove and pain-free medical adhesives, which do not damage the skin. In North America, the demand for medical-grade silicones has been on the rise due to the increasing need for heart implants, aesthetic implants, and other implantable medical devices.
The energy sector is another major application sector for silicones in North America where they are chiefly used to make components in the renewable energy segments like wind and solar energy. Most of the solar panels are made of silicones as they add to the durability and functionality of the panels by creating strong bonds and seals as well as providing electrical insulation. In the construction of windmill shafts, silicones lead to lower costs of material, increase the lifetime of the panels along with decreasing the overall cost of the unit.
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Market Analysis by Types:
The types of silicones analysed by the Expert Market Research report are elastomers, fluids, gels, and resins.
Market Analysis by Applications:
- Industrial Process
- Construction Materials
- Home and Personal Care
Silicones find their end-use application in sectors like industrial processes, construction materials, home and personal care, transportation, energy, healthcare, and electronics.
Market Analysis by Regions:
- United States
United States and Canada are the countries covered in the report on North America silicones marker.
Key Findings of the Report:
- The North America silicones market is being driven by the growing use in the transportation sector where they are used to make lightweight automotive component.
- The market is also aided by an increasing demand from end-use sectors like construction and electronic industries.
- Rising demand from industries like plastics and composites, paper and pulp, chemical manufacturing, paints and coatings, and food and beverages are further aiding the silicones market in the region.
- North America has a self-sufficient silicones supply with the surplus being exported to supply deficient countries like Mexico.
- Increasing demand for pharma-grade silicones in the healthcare and personal care industries globally has added to the growing exports of silicones to Asia Pacific countries like Japan, China, and South Korea.
Key Offerings of the Report:
- The Expert Market Research report looks into the global demand of silicones by their different types and their various end-use applications.
- The report examines the global historical (2015-2019) and forecasted (2020-2025) demand and supply of silicones along with the demand and supply of D5 and emulsion silicones in North America for the same periods.
- It explores the regional demand and price trends of silicones in North America for the periods 2015-2019 and 2020-2025.
- It also provides the trade data for silicones as well as their feedstock, looking into the value and volume of the major exporting and importing countries.
- The report by Expert Market Research gives the historical (2015-2019) and future (2020-2025) demand and supply along with the price trends of the silicone feedstock in the North America market.
According to Expert Market Research, the key players in the global and North America silicones markets are Elkem Silicones, Dow Chemical Company, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd, Momentive Performance Materials Inc., Evonik Industries AG, NuSil Technology LLC, Advanced Polymer Inc., SiVance, LLC, and Siltech Inc., among others. The report provides market information about the latest developments among the major players like their market share, capacity expansions, plant turnarounds, and mergers and acquisitions.
Competitive Landscape & Supplier Analysis:
- Elkem Silicones (OTCMKTS: ELKEF)
- Dow Chemical Company (NYSE: CTA-B)
- Wacker Chemie AG (ETR: WCH)
- Shin-Etsu Chemical Co., Ltd (TYO: 4063)
- Momentive Performance Materials Inc.
- Evonik Industries AG
- NuSil Technology LLC
- Advanced Polymer Inc.
- SiVance, LLC
- Siltech Inc.
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Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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