Europe Silicones Market to Reach 1 Million Metric Tons by 2024
Added: (Wed Apr 24 2019)
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According to a new report by EMR titled, ‘Europe Silicones Market and Forecast 2019-2024’, the Europe silicones market is being aided by the growth of the global silicones market at a CAGR of nearly 5% between 2014-2018. The Europe silicones market is projected to reach 1 million metric tons by 2024.
Silicones are polymers made up of chains of alternating silicon and oxygen atoms. Due to the versatility of their forms which range from solids to liquids to a paste-like consistency, they find their application across numerous sectors. They are used as coating agents, water repellents, emulsions, sealants, and anti-foaming agents, among others. The Europe silicones market is driven by the rising demand for silicones from the automobiles and transportation sector.
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Silicones as rubbers, resins, lubricants, coatings, elastomers and coatings add to the make-up of various automobiles components like airbags, tires, gaskets, hoses, seals, sensors, fuel tanks, etc. Automobile components made of silicones contribute to the reduction of the total vehicular weight and also reduce friction. With EU seeking to cut over a third of car emissions by 2030, the silicone industry in the region will find a further impetus as reduction of overall vehicular weights also leads to a greater fuel efficiency. Moreover, the move by EU intends to encourage the manufacture and consumption of more electric vehicles, which will also boost the silicones market. Silicones provide cost-efficient components for e-vehicles for adhesion, insulation, sealing, and fire resistance.
Germany and France are the leading manufacturing hubs for the Europe silicones market. They not only export silicones to other European countries but also to other regions like Asia Pacific, Middle East and Latin America. Germany, with a thriving automotive sector, is adding to the growth of the silicones industry in the region due to the rising demand for silicones from the automotive sector.
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Market Analysis by Types, End-Use and Regions:
Elastomers, fluids, gels and resins are the types of silicones analysed by the EMR report.
Silicones find their major end-use in sectors like industrial process, construction materials, home and personal care, transportation, energy, healthcare, and electronics.
Silicon metal, methanol, and hydrochloric acid are the major silicones feedstock available in the market.
UK, Germany and Netherlands are the major markets for silicones in Europe which have been analysed by the report.
Key Findings of the Report:
Europe occupied over 30% of the global silicones market in 2017 and is one of the major regional markets for silicones globally.
Growing demand for aesthetic implants from the healthcare sector in Europe is driving the silicones market.
The rising renewable energy sectors like wind and solar energy is also adding impetus to the regional market growth.
Transportation, personal care, and construction are the other leading application sectors for silicones in the region.
Rising transportation and cosmetic sectors have led to the increased imports from the US of specialised silicones formulations.
Key Offerings of the Report:
The EMR report examines the demand for silicones based on their types and end-use in both the global and Europe market.
The report gives a detailed historical (2014-2018) and forecasted (2019-2024) demand and supply of silicone in the global market.
It also looks into the demand and supply of D5 and emulsion silicones in the Europe market for the periods 2014-2018 and 2019-2024.
It analyses the regional historical (2014-2018) and future (2019-2024) demand and price trends for silicones in Europe.
The report provides a trade analysis of the major exporting and importing countries for silicones and their feedstock in the global market.
The report by EMR also gives an in-depth examination of the demand and supply, as well as price trends of silicones feedstock.
Elkem Silicones, Dow Chemical Company, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd, Momentive Performance Materials Inc., and Evonik Industries AG, among others, are the key players in the global and Europe silicones market that are analysed by the EMR report. The report gives an insight into the latest developments among these major players including plant turnarounds, capacity expansions, and mergers and acquisitions.
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