Portland, OR -- (SBWIRE) -- 02/20/2018 -- Silicones Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $20,784 million by 2022, registering a CAGR of 4.9% during the period 2016-2022. Silicone elastomers segment dominated with more than one-third share of the market revenue and volume in 2015.

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Silicones market is segmented into different types such as elastomers, fluids, resins and gels. The elastomer segment accounted for more than one-third of the global silicone market, both in terms of volume and revenue in 2015, owing to its unique ability to retain its mechanical properties over a wide temperature range. Hence, silicone elastomers are mostly applicable in construction, where they are used as structural glazing sealant. Silicone fluids is the second largest segment and is mostly used in cosmetics, paints & coatings, and healthcare industries.

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The global silicones industry is segmented on the basis of type, end user, and geography. Based on different types, the market is classified into categories including elastomers, fluids, resins, and gels. Silicones find applications in various industries, such as building & construction, transportation, electronics, medical, textile & leather, and others. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

The silicones market share, with its surging demand in end-user industries, witnessed a high growth during the past few years, and this growth trend is estimated to continue in the forecast period. Key players in the market invest huge capital in R&D activities to develop enhanced products, which helps to meet current demand areas including advanced medical science. Major players in the silicones market are Shin-Etsu Chemical Co., Ltd. (Japan), Dow Corning Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), Wacker Chemie AG (Germany), and Bluestar Silicones International Co., Ltd. (France).

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SILICONE MARKET KEY SEGMENTS:
BY TYPE
Elastomers
Fluids
Resins
Gels
BY END-USER
Building & Construction
Transportation
Electronics
Medical
Textile & Leather
Others (Paints & Coatings, Cosmetics, Paper)