Global Silicone Elastomers Market: Key Highlights
Global Silicone Elastomers Market: Key Market Dynamics
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Global Silicone Elastomers Market: Regional Overview
Asia-Pacific is expected to account for the largest share in the global Silicone Elastomers market. Moreover, the region is also expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the easy availability of raw material and cheap labor costs. In addition to this, the increasing foreign investment in the region due to the growing economies in countries such as India, China, Indonesia, South Korea, and many others, thereby leading to the growth of various end-user industries in the Asia-Pacific region. Furthermore, the Asia-Pacific region is anticipated to witness the automotive and electrical & electronics due to the growing population and rising disposal income, thus aiding the regional silicone elastomers market.
Global Silicone Elastomers Market: Key Players Overview
Dow is US-based one of the leading material science companies that is a combination of science and technology to develop solutions. The company operates through three business segments namely performance materials & coatings, industrial intermediates & infrastructure, and packaging & speciality plastics. Its products serve different applications, including coatings, home and personal care, durable goods, adhesives and sealants, and food and speciality packaging. Besides, the Company operates a global commercial and development network that features eight research and development (R&D) centres.
Wacker Chemie AG is a Germany-based engaged in the manufacturing of specialty chemical products. The company operates through four segments: Silicones, Polymers, Biosolutions, and Polysilicon. The silicones segments provide silane, silicone fluids, emulsions, elastomers, sealants, and resins to pyrogenic silicas. In January 2019, Wacker Chemie AG has expanded its silicone elastomer production in China. The new production at Zhangjiagang in China will help the company for future growth paths in China and improve the availability of high consistency silicone rubber (HCR) in the Asia-Pacific region.
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