Silicon Market is valued at USD 22.34 Billion in 2019 and expected to reach USD 87.33 Billion by 2026 with the CAGE of 21.50% over the forecast period.
Global Silicon Market: Global Size, Trends, Competitive, Historical &Forecast Analysis, 2020-2026–Rising demand from the electronics sector as well as rise in the automotive industry are expected to boost the growth of Silicon market overforecast period.
Scope of Global Silicon Market Reports –
Silicon is a chemical element that is present in sand and glass and which is the best known semiconductor material in electronic components. Silicones are high-performance oligomers or polymers exhibiting various physical forms ranging from solids to water-thin liquids, semi-viscous pastes, greases and oils. Silicones display a multitude of unique properties such as lubricate, seal, bond, release, defoam and encapsulate. Silicones conduct electricity and do not harden, crack, peel, crumble, rot or brittle with age. Due to these physical properties the silicones are widely used in transportation and automobile industry. These are also used in white ware ceramics such as porcelain, and in traditional quartz-based soda-lime glass and many other specialty glasses. Silicon is used for electronic devices because it is an element with very special properties. One of its most important properties is that it is a semiconductor. This means that it conducts electricity under some conditions and acts as an insulator under others. advanced Silicon technology showcased advanced memory and system logic devices. In addition, the silicon offer multiple advantages to power circuit designers, but at the same time suffers from limitations that are inherent to silicon material properties such as low bandgap energy low thermal conductivity and switching frequency limitations.
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Global silicon market report is segmented on the basis of product type, application, and by regional & country level. Based on product type, global silicon market is classified as the elastomers, fluids, resins, gels and others. Based upon application, global silicon is classified into building & construction, transportation, personal care & consumer goods, energy, electricals & electronics, paper, textile and others.
The regions covered in this silicon market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of silicon is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Silicon Market-
Some major key players for global silicon market are CSL Silicone Inc., Reiss Manufacturing, Inc., CHT Group, Silchem, Inc., Silteq Limited, Allergan, Ashland Incorporated, Saint-Gobain, Roger Corporation, Primasil Silicone, Sivance, and others.
Global Silicon Market Dynamics –
Rising product demand from the electronics sector, owing to its high thermal stability and resistance to weathering, ozone, moisture, and UV radiation, is estimated to drive the silicon market. Growing demand for lightweight materials in the automotive industry and increasing R&D activities for product innovation are projected to propel overall industrial growth in the years to come. According to the world Energy in 2018, global electricity demand grew at 2.1% per year twice the rate of primary energy demand. However, the high production cost of silicone elastomers, owing to high raw material and processing costs, is estimated to hamper the market growth. According to the Health World Organization (WHO) in 2017, the chemical industry coatings invested 51 billion in R&D, the largest chemical R&D spend with an investment of 14.6 billion followed by the US with a 12.1 and a 6.9 billion investment .Therefore, manufacturers of medical devices are seeking newer technologies to help reduce the growth of microorganisms on their devices. For this purpose, additives known as antimicrobials or biocides are being used. Antimicrobial silicone elastomers are used for enhancing the performance of end products by reducing microbial contamination of elastomers. The growth of microbes can harm the end products and can cause foul smell, discoloration, and formation of fungus in many medical device applications such as wound drains and catheters. Antimicrobial silicone elastomer controls the growth of microbes in or on the human body. Therefore, the development of these elastomers is expected to provide new growth opportunities to the market.
Global Silicon Market Regional Analysis –
North America is estimated to be the leading silicone market during the forecast period. Rising demand for minimally invasive surgeries and the presence of sophisticated healthcare infrastructure in this region is estimated to be favorable factors for the market growth. According to the World Energy (WE) in energy-efficient more than 76% of all U.S. electricity use and more than 40% of all U.S. energy use and associated greenhouse gas (GHG) emissions are used to provide comfortable, well-lit, residential and commercial buildings and to provide space conditioning and lighting for industrial buildings reduce this energy use by 2030.
Also, Asia-Pacific is anticipated to experience rapid growth during the forecast period due to the rise in demand for automobiles, portable electronics, and solar panels in the region, especially in developing countries such as China and India. According to the automotive industry in 2019, the automobile industry saw its worst-ever half-yearly performance as sales dived 17.08 % to 11,736,976 units. The passenger vehicles segment saw an overall decline in sales of 23.56 % at 1,333,251 units in this period. In addition, rising renewable energy market and rapid electric vehicle penetration is creating lucrative growth opportunities for the silicone market in Asia-Pacific. Moreover, the rapidly developing automotive sector in China with low manufacturing costs is estimated to fuel the regional market.
Key Benefits for Global Silicon Market Reports–
Global Silicon Market report covers in depth historical and forecast analysis.
Global Silicon Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Silicon Market report helps to identify opportunities in market place.
Global Silicon Market report covers extensive analysis of emerging trends and competitive landscape.
Global Silicon Market Segmentation –
By Product Type
Building & Construction
Personal Care & Consumer Goods
Electricals & Electronics
By Regional & Country Analysis:
Middle East and Africa
Rest of Middle East and Africa
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