Posted on 02 Apr 2019
According to a new report by EMR titled, ‘Latin America Silicones Market Report and Forecast 2019-2024’, the Latin America silicones market is projected to attain 0.1 million metric tons by 2024, assisted by the growth of the global silicones market, which is expected to further grow at a CAGR of about 5% between 2019 and 2024.
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.
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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:
Key Findings of the Report:
Key Offerings of the Report:
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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