Written on 09.11.2014 - Industry
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Ceresana publishes new silicones market study with forecasts up to 2021

According to the new Market Study: Silicones by Ceresana, worldwide revenues generated with silicones rose by 6.7 % per year since 2005. In 2013, silicones valuing about USD 15.5 billion were sold. The market research institute expects sales of silicone to increase by another 5 % in the next years.

Silicone elastomers, silicone oils and silicone resins are the most important product types. The most important growth motors are the sectors construction and E+E. In the construction industry, silicones are mainly used as sealants, adhesives and in coatings.

The continuous boom of the construction sector in China and the recovery of the American construction sector are likely to result in an increase of global market value in the construction industry by 5.4 % annually in the coming years. Ceresana expects similarly high growth rates for the sector E+E, the application reporting the highest revenues.

In this segment, silicones are already used in keyboards, computers, telephones and several other products, and application possibilities keep increasing. A new and strong growth market are lenses for LED lights made from silicone rubber.

Asia-Pacific accounted for more than half of global silicones production in 2013. China is the largest consumer of silicones worldwide. The gap to the second and third largest sales markets, Western Europe and the USA, is likely to widen in the future.