Written on 08.11.2014 - Industry
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M&M forecasts global silicones market worth USD 19.4 billion by 2017

According to the report Global Silicone Market by Type, Application & Geography – Forecasts up to 2017 by market research and consulting company MarketsandMarkets (M&M), the global market for silicones is presently experiencing strong growth, mainly achieved by rising demand from its end-user applications, especially building and construction, plastics and chemical industry, and rapidly developing emerging economies such as China, India, and Brazil.

The market in terms of revenues was estimated to be worth USD 13.1 billion in 2011 and is expected to reach USD 19.4 billion by 2017, growing at a CAGR of 6.8 % from 2012 to 2017. Asia-Pacific dominates the global silicone market, accounting for 40.1 % of the overall market in 2011.

It is the fastest growing region, both in terms of production and consumption. The rising living standards, growing household incomes and an expanding middle class in the region are fuelling demand for products containing silicones. China is the most attractive market in Asia-Pacific with enormous potential and massive growth opportunities, says M&M. Europe accounted for 29,4 % of the global silicone demand in 2011.

Asia-Pacific, Eastern Europe, and South America are expected to be the fastest growing regions in the coming decade. The global silicone market is dominated by elastomers and fluids, together accounting for over 80 % of the overall market in 2011. Key market participants include, amongst others, Dow Corning (USA), Momentive (USA), Wacker Chemie (Germany), Bluestar Silicones (France), and Shin-Etsu (Japan).

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