Dow Chemical Company, Wacker Chemie AG, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., Ltd., and Elkem Silicones, among others, are the major players in the global silicones and siloxanes market.
The global silicones market reached a volume of about 2.5 million tons in 2020, whereas the global siloxanes market approximated a volume of nearly 3.1 million tons in 2020. The silicones industry is further expected to grow at a CAGR of 5.5% during 2022-2027 while the global siloxanes market is anticipated to grow at a projected CAGR of 6.4% between 2022 and 2027.
As per the analysis by Expert Market Research, the market is expected to be driven by the rising demand in the personal care industry.
Siloxanes are volatile organosilicon compounds made up of recurrences of silicon-oxygen (Si-O) bonds that can be cyclic or linear. They have lubricating characteristics and are very stable and biologically inert. Silicones are made up of siloxanes and come in a variety of physical forms, including solids, semi-viscous pastes, liquids, and oils, because of their beneficial properties, such as flexibility, moisture resistance, stability, inertness, gas permeability, and so forth.
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Silicone polymers and cyclic siloxanes are utilised as a solvent in hair, skin, deodorants, sun care products, and make-up in the personal care sector. Their benefits, such as reduced skin irritation, low surface tension, anti-foaming qualities, and volatility, can be linked to this. In recent years, the demand for cosmetics has risen due to an increase in personal grooming. Silicones are used to make a variety of construction materials because they give a firm, resilient, weather-resistant, and UV-resistant seal with excellent adhesion. These are expected to facilitate the growth of the silicones and siloxanes market. Economic development, inflating income levels, and improving living standards have stimulated the demand for silicone-based products in emerging countries. Silicones and siloxanes are also used in many end-use industries like food products, telecommunications, chemicals, and automotive.
Headquarters: Michigan, United States
Dow achieves profitable growth by combining global breadth, asset integration and scale, focused innovation, and leading business positions. Its portfolio of businesses includes plastics, industrial intermediates, coatings, and silicones, and it provides a diverse variety of differentiated science-based products and solutions to customers in high-growth industry categories like packaging, infrastructure, mobility, and consumer care. In addition, the company announced new low-cost, high-return investments in its upstream and downstream silicones franchise to support global customers' demand in high-growth markets like high-performance building, home and personal care, electrical and industrial, consumer goods, and component assembly.
Headquarters: Munich, Germany
WACKER is a technological leader in the chemical sector, producing products for a wide range of industries around the world. Silicone, polymer, life sciences, and polysilicon are all the areas where it operates. WACKER SILICONES provides the widest range of goods to its clients. More than 2,800 silicone goods are created from two basic materials – silicon metal and methanol – in seven product classes, including silanes, siloxanes, fluids and emulsions, elastomers, resins, and pyrogenic silica.
Headquarters: Waterford, New York
With a 75-year history of being first to market with performance applications for major sectors that support and improve everyday life, Momentive is a global leader in silicones and advanced materials. By connecting specialised technology platforms to customer opportunities, the business provides science-based solutions. Silicones are used in a variety of industries, including automotive, electronics, personal care, consumer goods, aerospace, building and construction, among others. It offers basic siloxane polymers and an extensive portfolio of additives, including silanes, speciality fluids, and urethane additives and have an extensive offering of formulated products, including elastomers and coatings.
Headquarters: Tokyo, Japan
Shin-Etsu Chemical is a chemical firm that manufactures goods and critical materials for industry and our daily lives through its six major business categories. ShinEtsu's silicone technologies, as well as environment-conscious silicone products and technologies, are introduced, all of which contribute to a reduction in the environmental load, such as energy conservation, carbon dioxide (CO2) reduction, and resource conservation.
Headquarters: Oslo, Norway
For more than 70 years, Elkem Silicones has been a leader in the silicone business. By integrating natural raw resources, renewable energy, and human ingenuity, the company creates silicones, silicon goods, and carbon solutions. From energy to cosmetics, the company services a wide range of markets, including electronics, aerospace, automobile manufacturing, construction, healthcare, mold-making, paper and textile coating, and personal care, among others. Release coatings, engineered elastomers, speciality fluids, emulsions, and resins are among the company's silicone products.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.