Press Release
Press Release
The growing demand for smaller, lighter, and more powerful devices across the electronics sector is contributing to the demand for silicones. Silicone finds application in the electronics sector for component and product insulation, sealing, protection, and helping in reducing the size and weight of electronic products. Furthermore, growing technological advancements in the electronics sector are fuelling the adoption of silicones.
Additionally, the growing construction sector is fuelling the adoption of silicones at a significant rate. The characteristics of silicone such as durability and resistance to decay make it an essential material in residential and office buildings, bridges, oil rigs, industrial plants, and pipelines.
The expansion of production capacities by key players is favouring the market growth. In May 2022, Ferroglobe PLC (NASDAQ: GSM), a prominent manufacturer of silicon metal, silicon-based alloys, and manganese-based speciality alloys, announced the restarting of its second furnace at the Selma, Alabama (United States) facility. With the restart, the annual silicon metal capacity for the domestic market in the United States is anticipated to increase to 11,000 tons.
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The major players in the global silicones market are Elkem ASA, The Dow Chemical Company, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd., and Ferroglobe PLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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