Asia Pacific Silicones Market to Grow at a CAGR of 4.7% between 2024-2032

The Asia Pacific is a leading market for silicones where the market is being driven by growing sectors like construction, transportation, personal care, electronics, and healthcare industries, among others. The region was the leading silicones market in 2016 due to the greater availability of cheap labour, and raw materials, which led to the shifting of production facilities by the key players to Asia from North America and Europe. The shift by the major players in the global silicones market was also a result of the increasing penetration opportunities in sectors for end-use applications.

China and India are the key silicones market in the region with thriving infrastructure and automobiles industries. With growing pollution levels in both countries, their governments are implementing more environmentally conscious policies. Currently, China is a leading market for electric vehicles with a rising supply of and demand for electric vehicles. India is also emerging as a potentially attractive market for these vehicles with its goal to reach electric mobility by 2030. Thus, many of the major players in the Chinese e-vehicles market are eying expansion in India through a collaboration with local players. This development will aid the growth of the silicones market in the region in the coming years as silicones are used to manufacture components for adhesion, electrical insulation, and fire resistance, among others.

Japan, Korea, and Taiwan are also significant players in the Asia Pacific silicones market. With multiple plant shutdowns in China due to the Chinese government’s stringent environmental regulations combined with the detrimental effects of the trade war with the US, the key players in silicones market like Japan’s Shin-Etsu Chemical are expanding to meet the supply gap. Shin-Etsu is planning on increasing its production by 50%, with expansions of USD 991 million planned in Japan and Thailand along with the US. The company plans to take advantage of the supply scarcity from the Chinese players, with expansions in monomer plants in Japan and Thailand, and final product factories in South Korea, China, the U.S., Netherlands, and elsewhere.

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Market Analysis According to Types, Applications, and Regions:

• Elastomers, fluids, gels and resins are the major silicones types examined by the EMR report.
• The primary feedstocks for silicones mentioned in the report are silicon metal, methanol, and hydrochloric acid. 
• Silicones find their end-use in sectors like industrial process, construction materials, home and personal care, transportation, energy, healthcare, and electronics. 
• The Asia Pacific silicones market is broken up into China, India, and South East Asia regions.

Key Findings of the Report:

• The Asia Pacific silicones market is aided by the growing construction industry in the region, with extensive investments by the Chinese government in infrastructure programs.
• The market is being driven by the rising demand in electronics, medical, personal care and transportation sectors. 
• China and India to remain the major manufacturing hubs for silicones because of the low manufacturing costs and greater penetration opportunities in electronics and automotive industries. 
• China will continue to be the fastest growing silicones market, globally, contributing to over half the silicones demand in 2017.
• With rising demand for silicones locally, China is also one of the largest importers of silicones.
• The production of lower-value goods to move to India and Southeast Asia with China manufacturing more high-value products.

Key Offerings of the Report:

• The report by EMR gives the global demand for silicones by type and end use.
  The report also looks into the historical (2018-2023) and forecasted (2024-2032) demand and supply of silicones globally.
  It provides the demand and supply of D5 and emulsion silicones in the Asia Pacific region for the periods (2018-2023) and (2024-2032).
  It analyses the region-wise historical (2018-2023) and future (2024-2032) price trends for the Asia Pacific silicones market. 
  The EMR report analyses the global trade data for the major exporting and importing countries for silicones and its feedstock. 
  The report also examines the silicones feedstock market by looking into their historical (2018-2023) and forecasted (2024-2032) demand and supply as well as providing their regional price trends for the same periods.

The report by EMR identifies Elkem Silicones, Dow Chemical Company, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd, Momentive Performance Materials Inc., Evonik Industries AG, KCC (South Korea), Herrman (China), Dallan (China), Hubei Bluesky New (China), Supreme Silicones (India), and Elkay Silicones (India), among others, as the major players in the global and Asia Pacific silicones market. It provides up-to-date information regarding plant turnarounds, capacity expansions, and mergers and acquisitions of these key players within the context of the silicones market in Asia Pacific.