Press Release
Press Release
According to a new report by EMR titled, ‘Global PDMS Market Report and Forecast 2024-2032’, the market attained a value of about USD 5.08 billion in 2023. The market is estimated to grow at a CAGR of 8% in the forecast period of 2024-2032 to reach a value of around USD 10.20 billion by 2032.
The growing construction and manufacturing activities in the Asia Pacific and Latin America are favouring the PDMS market growth. By 2050, nearly 7 out of 10 people worldwide will reside in urban areas. The rapid urbanisation is generating demand for housing and efficient transport systems in developing countries such as China and India, contributing to the market growth.
The Asia Pacific is a prominent hub of automotive manufacturing, with the presence of leading automotive manufacturing countries such as China, Japan, India and South Korea. In the automotive industry, PDMS was used as a sealant for protecting automotive electronics such as sensors and electronic components. In 2023, China produced around 30.1 million vehicles, a 12% increase from 2022. Additionally, favourable governmental housing and public construction schemes, such as China’s Public Housing Plan and Pradhan Mantri Awas Yojana in India further aid the market growth.
New product launches support the market growth. In March 2024, Shin-Etsu Chemical Co., Ltd. (OTCMKTS: SHECY) introduced the water-based, fast-curing silicone resin “KRW-6000 Series”, that does not use emulsifiers. Since silicone resins perform exceptionally well in terms of heat and weather resistance, they are employed in applications such as paints and coatings. The KRW-6000 Series offers superior film qualities and can be heated quickly to cure. This silicone resin series' primary characteristics include water-dispersible, emulsifier-free silicone resin, low volatile organic compounds (VOCs), and rapid low-temperature curing in a brief amount of time, which lowers greenhouse gas emissions and forms high-hardness films.
Figure: Global Automotive Production (in Million Units), 2018-2023
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The major players in the global PDMS market are Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, Avantor, Inc., Elkem Asa, and KCC Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Form |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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