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Report Overview
The Asia Pacific silicones market is expected to reach a volume of about 2.07 million metric tons by 2032, registering a CAGR of nearly 4.7% during the forecast period of 2024-2032. Asia Pacific is expected to lead the regional markets globally during the forecast period. A growing electronics industry along with the increasing standards of living in India, Japan, Korea, China and Taiwan will drive the market growth.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Asia Pacific Silicones Market Analysis
Asia Pacific was the largest silicones market in 2016 due to the shifting of the production facilities by large players from North America and Europe to Asia. The key factors behind the shifting of production facilities included cheap labour, greater availability of raw materials and more market penetration opportunities in end-use businesses such as building and construction, transportation, personal care and consumer products, industrial process, electronics, medical and healthcare, energy, etc.
India and China are expected to maintain their positions as major manufacturing hubs due to low costs of manufacturing and openness towards electronics and automotive industries. China saw significant growth in the silicone market in 2016 and 2017. While several producers had to shut down units or cut output due to environmental regulations in 2017, such shutdowns corrected demand-supply patterns.
China remains the largest market for silicones in terms of value. It will continue to be one of the fastest developing markets in the world. Over the last ten years, there has been a rapid rise of domestic-based silicone manufacturers in China which has affected global markets significantly. It is a key market in the region followed by India and accounted for over half the global demand of silicones in 2017.
China is also the leading importer of silicones. A greater portion of silicones manufactured within the country is used to meet domestic demand. Even with growing demand in China, most Chinese silicones buyers tend to buy from global rather than local players. This is due to a slower technological innovation in the industry in China. However, the tools for future innovations are there with China.
Asia Pacific silicones market will continue to grow the fastest due to acceleration in price growth. With China producing more high-value goods, the manufacturing of lower-valued products would move to India and Southeast Asia. Construction, electronics, medical/personal care and transportation would be primary markets for silicones. Adhesives would drive growth in the construction sector while greater applications for liquid silicone rubber would drive growth in the medical segment.
The report by EMR provides a detailed analysis of the silicones markets in China, India and South East Asia. The report also analyses the types of feedstock for Asia Pacific silicones market.
Asia Pacific Silicones Market Report Snapshots
Asia Pacific Silicones Market Size
Asia Pacific Silicones Market Analysis
Asia Pacific Silicones Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The Asia Pacific silicones market is projected to grow at a CAGR of nearly 4.7% in the forecast period of 2024-2032.
The market is estimated to reach a volume of nearly 2.07 million metric tons by 2032.
The major drivers of the market include the rising disposable incomes, increasing population, rising electronics industry, and the increasing standards of living.
The rising investments by the government in infrastructure programs is expected to be a key trend guiding the growth of the market.
China, India, and South East Asia are the leading regions in the market, with China accounting for the largest market share in the Asia Pacific.
The major types of silicones include resins, fluids, gels, and elastomers.
The significant application segments in the market are industrial process, home and personal care, construction materials, transportation, energy, healthcare, and electronics, among others.
The major segments in the market are D5 and emulsion.
The leading players in the market are Elkem Silicones, Dow Chemical Company, Wacker Chemie AG, Momentive Performance Materials Inc., Siltech Corporation, and Evonik Industries AG, among others.
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124