Silicone Market Share, Emerging Trends and Overview to 2024: Hexa Reports

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Silicone Market Analysis, Share and Size, Emerging Trends,

Growth, Overview And Segment Forecasts To 2024

The global silicone market is expected to reach USD 18.73 billion by 2024, according to a new report by

Grand View Research, Inc. Silicone is used extensively in construction, automotive and electronics on

account of its low toxicity, flammability, and smoke density; inertness to chemicals & solvents; and oil &

fuel resistance. Products in elastomeric forms exhibit low UV degradation and excellent insulation

properties which will promote their usage as electroactive polymers.

Electronics & electrical applications accounted for 18.7% of total market revenue in 2015. Rising

importance of protection against electrostatic discharge (ESD) and electromagnetic interference (EMI) in

electronics sector is expected to play a crucial role in promoting the use of conductive polymers and

thus likely to expand the industry size of silicone rubber.

Browse Detail Report With TOC @ http://www.hexareports.com/report/silicone-market/details

Further key findings from the report suggest:

Silicone fluids reported sales of USD 5.24 billion in 2015, making it one of the most extensively used

product. These products are utilized in the formulation of hydraulic oils, transformer oils, damping

fluids, heat-resistant lubricants and release agents. Rising importance of lubricants as a primary source

of preventive maintenance in the manufacturing sector is expected to promote the usage fluids in lube

formulations.

Elastomers are expected to witness growth at a CAGR of 4.5% from 2016 to 2024, in terms of volume.

Within the silicone elastomers market, RTV is projected to witness volume growth at a CAGR of 5.2%

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from 2016 to 2024. RTV is used for manufacturing cockpit equipment, engine electronics potting, and

engine gaskets on account of on account of...