Organosilicon Polymers (Polysiloxane) Market Overview
The Organosilicon Polymers (Polysiloxane) Market is projected to register a CAGR of around 4.28% toreach USD 2,201.24 million by the end of 2028.
The primary factor driving the global Organosilicon Polymers Market is majorly the application of adhesives and elastomers in the construction industry. Additionally, the increasing automotive production and their harmful emissionssupport the growth of the global organosilicon polymers (polysiloxane) market. Adhesives and elastomersare consistently used in the building and construction sector. Thus, the growing construction sector globally has provided fuel for innovation and manufacturing processes with a wide number of applications for elastomers and adhesives. The growth of the construction industry in the emerging economies of Asia-Pacific is likely to favor global market growth. The use of organosilicon polymers (polysiloxane) in roofing, walls, piping, and others in residential and commercial buildings owing to their physical characteristics, is expected to fuel the market in the coming years. Moreover, residential and commercial buildings in developing countries have increased due to the growing population and rapid urbanization. The increasing purchasing power and growing preference of consumers for better appeal and decorative residential infrastructure are likely to influence global market growth positively
Similarly, the automotive industry has experienced significant expansion in recent years all over the world. In 2019, global vehicle production exceeded 92 million units. The surge in production in rising economies including India, China, and Mexico is mainly responsible for this. The creation of inventive and safe parts used in automobiles has resulted from improvements in the automobile and heavy-duty sectors to meet current and foreseeable consumer expectations. In the future years, these factors are projected to boost market expansion.
Organosilicon polymers compounds arecomposed of –Si–O–Si–O– backbones with side chains R attached to the silicon atoms (R2SiO), where R is a hydrogen atom or an organic radical possibly bearing functional groups. Siloxane isa kind of organosilicon compound. They are the building blocks for silicone products or make a part of the other products, including adhesives, paint, and coatings. Silicone products are groupedinto silicone fluids, elastomers, and resins. Silicone fluids are used 556Qa widerange of applications, silicone elastomers are used primarily for sealants and rubbers, and resins are mainly used for paints. According to the Danish Environmental Protection Agency (Danish EPA), the total consumption is estimated at around 3,100 tons per year.
Segment Analysis
The global organosilicon polymers (polysiloxane) market has been segmented on the basis ofmetal type, technology, vehicle type, and region.
By application, the silicones market has been categorized into coatings, elastomers, foams, adhesives & sealants, and others. Among these, coatings emerged as the fastest-growing segment during the review period as they are increasingly used inthe automotive and construction sector.
On the basis of product type, the global organosilicon polymers (polysiloxane) market has been segmented into silicone oil, silicone rubber, silicone resin, and silicone emulsion. The silicone rubber segment accounted for the largest market share in 2020, with the highest CAGR of over 5.0%. The silicone rubber is majorly utilized in external materials because it posses strong weather resistance, thermal oxidation stability, and electrical qualities. Silicone rubber's hydrophobic characteristic prevents impurities and droplets from adhering to its surface, allowing it to be utilized as an anti-sticking coating. As a result, silicone rubber has several uses in national security, manufacturing, healthcare, construction, and everyday life.
COVID Impact Analysis
The outbreak of COVID-19 resulted in the shutting of factories and businesses, canceled air transport routes, and lockdowns, negatively impacting the industry. COVID-19 has had a considerably greater impact on the chemical business than past global epidemics such as Ebola, H1N1, and MERS; the sector has contributed more than even the 2008 financial crisis. However, with the lifting of trade restrictions and lockdown measures, sales for fuel additives are expected to go up and drive market development. The industry's reliance on China has had a negative impact on supply chains, leaving businesses scrambling for substitutes and loopholes. Because the majority of the chemical industry's industrial operations take place on-site, the workers are at risk of contracting the disease. Labor shortages have hampered manufacturing across the globe.
Governments and managements around the world have implemented a variety of monetary and fiscal policies to mitigate the effects of the pandemic, which should provide some respite to consumers. After a temporary depression, the Asia-Pacific area has returned to normal. Several corporations have expanded production to reduce inventory levels and shift cargo closest to markets with greater flexibility.
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Key Findings of the Study:
The global organosilicon polymers (polysiloxane) market is projected to reach a value of USD 2,201.24 million by 2028, with a CAGR of around 4.28% during the forecast period from 2021 to 2028.
Asia-Pacific accounted for the largest market share in 2020; this is due to the high production and sale of automobiles and huge investments in the construction sector in China, India, and South Korea.
Middle East & Africa is expected to be the fastest-growing regional market registering a CAGR of over 5%.
The proliferating automotive industry in the Middle East & Africa,coupled with a focus on product innovation and technology development, are the key opportunities in this market.
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