Latin America Silicones Market to Attain USD 329.58 Million by 2032

Silicones are a modern class of synthetic polymers having a chemical structure made of chains of alternating silicon and oxygen atoms with hydrogen and/or hydrocarbon groups attached to the silicon atoms. The Si-O bond backbone makes silicones far more durable and stable than polymers containing C-C bonds. Thus, silicones remain useful even under temperature fluctuations. It’s chemical structure also allows it to take various forms ranging from water thin liquids to resinous to paste-like form to solids. The variability of forms makes it a desirable material to be used across industries as antifoaming agents, hydrophobizing agents, lubricating agent, adhesive and others.

In Latin America, the silicone market growth is driven by a demand for silicones in the home and personal care, and automobile sectors. Silicones are variously employed in the personal care sector as hair and hair colour protectants, in conditioners, in deodorants and in moisturisers. In the automobile industry, silicones are used to make lighter components for faster, reliable and efficient cars. By reducing the weight of vehicles, they ultimately contribute to increasing the fuel efficiency of the vehicle and lead to the release of lower emissions of pollutants like CO2. Car components made of silicones also prove to be sturdier due to their resistance to conditions like extreme heat, salt, fuels and moisture.

The construction sector is also seeing a growth in the Latin America region, leading to an increased demand for silicone-based sealants and adhesives, which are used in insulation, facades, lamination, coating, and other construction applications. Silicone-based sealants and adhesives are especially seeing a rising demand in countries like Chile, Columbia, Brazil, Peru and Argentina, which are seeing a boom in their industrial sectors. The silicones market in Latin America is also projected to witness a growth in the coming years due to product innovations and rising crude oil production plants in Chile, Brazil, and Venezuela.

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Market Analysis by Types, End Use and Regions:

• Silicones are divided into elastomers, fluids, gels, and resins.

• They find their end-use in sectors like industrial process, construction materials, home and personal care, transportation, and energy, healthcare, and electronics.

• Silicon metal, methanol, and hydrochloric acid are the leading silicone feedstock available in the market.

• Brazil, Argentina and Chile are the major silicones market in Latin America analysed by the EMR report.

Key Findings of the Report:

• Rapid growth from automotive, electrical, electronics and construction sectors are driving the Latin America silicones market. 

• Growing demand for liquid silicone rubber will further aid the market.

• The expansion of the automotive industry in the Latin American region is likely to drive up the demand for high-temperature silicone elastomer. 

• Increasing manufacturing activity in Mexico might provide further impetus to the market. 

• Electronic producers such as Foxconn, Flextronics, Dell, LG, Dell and Lenovo, among others, are increasing their presence in the region and might provide new openings for the application of silicones.

Key Offerings of the Report:

• The EMR report analyses the demand for silicones by type and end-use in the global and Latin America market.

• The report analyses the global historical (2018-2023) and forecasted (2024-2032) demand and supply of silicones.

• It also analyses the historical (2018-2023) and future (2024-2032) demand and supply of D5 and emulsion silicones types in the Latin America region.

• It provides an insight into the regional demand and price trends of silicones in the Latin America market for the periods (2018-2023) and (2024-2032).

• The report analyses the global trade data of silicones and their feedstock, looking into the value and volume of the major importing and exporting countries.

• The report by EMR gives the historical (2018-2023) and future (2024-2032) demand and supply along with the price trends of silicone feedstock in Latin America.

Elkem Silicones, Dow Chemical Company, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd, Momentive Performance Materials Inc., Evonik Industries AG, Silicon Argentina SRL, Axchem Brazil, among others are the major players in the global and Latin America silicones market analysed by EMR. The EMR report provides a detailed insight into their market share, capacity and latest developments like plant turnarounds, expansions of capacity, and mergers and acquisitions. 

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