Silicone Gel Market Forecasts to 2028 – Global Analysis By Product Type (Industrial Silicone Gel, Medical Silicone Gel and Other Product Types), Thickness (Below 2.5 nm, 5–5 nm, 5–7.0 nm and Above 7.0 nm), End User and By Geography
According tStratistics MRC, the Global Silicone Gel Market is accounted for $20.1 billion in 2022 and is expected treach $32.2 billion by 2028 growing at a CAGR of 8.1% during the forecast period. Silicone gel is a synthetic gel that is used tfill breast implants and is useful for treating a variety of scars. Repeating siloxane units are used tcreate the silicone gel. Carbon or hydrogen are joined with the chain of silicon and oxygen atoms. The heat and cold resistance, high dielectric breakdown, and hydrophobicity of silicone gel make it ideal for use in the electrical and electronic industries. The advantages of natural silicone gel over inorganic silicone gel are becoming more widely known among customers, which alshelps the market expand.
According tIndia Brand Equity Foundation, the beauty, cosmetic, and grooming market is currently worth over USD 7 billion and is expected treach USD 20 billion by 2025. According tthe German Electrical and Electronic Manufacturers’ Association (ZVEI), the global electronics and electric market is expected tgrow tapproximately EUR 4.7 trillion.
Market Dynamics:
Driver:
Rising adoption in the electrical and electronics sector
Silicone gels work treduce thermmechanical stress and shield nearby components. Because ttheir resilience and flexibility, silicone gels are being used more and more in printed circuit boards, semiconductors, and light-emitting diode (LED) devices. The consumer electronics sector is alsusing silicone gel products more frequently. Hence, the market will benefit from the rising demand for consumer electronics.
Restraint:
Stringent regulations and policies
The Environmental Protection Agency's (EPA's) and REACH's tight limits on the substances that can be used tmake food and drink might seriously hinder the market's expansion. Silicone gel should be used as release agents, lubricants, and defoaming agents, among other things, in food processing, food treatment, and food packaging in accordance with industry requirements. Such regulations may further limit the market growth.
Opportunity:
Surge in demand for silicone gel
The rapid increase in demand for silicone gel from end-use industries is a major driver of market expansion. Silicone gel is essential for the diode's security and for enhancing light transmission. Also, it can be utilised as a packaging material tcover and safeguard display units or lights that are prepared for shipping. Increase in usage of silicone gel in medical implants is the factor driving the growth of the market.
Threat:
High cost of raw materials
The usage of silicone gel is restricted tspecific end uses, but because tits low cost, replacements are used in a variety of applications, including bioterrorism, biohazards, and applications for gas and liquid dehydration. These silicone gel alternatives are frequently selected by clients due ttheir wide range of uses and affordable price. Hence, these factors are hampering the market growth.
Covid-19 Impact
The electrical and automotive industries are alssignificantly impacted by the new corona virus. The implementation of the global lockdown has resulted in a considerable drop in consumer goods demand. In addition, problems with the supply chain and a lack of labourers pose serious obstacles tthe production of a variety of consumer goods. Tstop the virus from spreading further, governments all around the world have ordered the closure of a variety of sectors.
The medical silicone gel segment is expected tbe the largest during the forecast period
The medical silicone gel segment is estimated thave a lucrative growth, due tits utilization.
Medical silicone gel is extremely fluid and has a very low viscosity. Its basis mostly consists of silicon dioxide. Artificial heart valves, hip and knee replacement components, and other prosthetic devices are made using silicone medical gels. In order tavoid adhesions forming between human organs or tissues, physicians alsemploy it during surgery.
The medical & pharmaceuticals segment is expected thave the highest CAGR during the forecast period
The medical & pharmaceuticals segment is anticipated twitness the fastest CAGR growth during the forecast period, due tits advantages. Pharmaceutical and medical applications use industrial silicone gel. This kind of silicone gel is favoured for use in the production of implants because it has good biocompatibility with the human body and does not harm people or induce allergies in them.
Region with Largest share:
Asia Pacific is projected thold the largest market share during the forecast period owing tlow cost and the availability of raw materials. A high number of OEMs are present in the area, which will cause the market for electronics production texpand quickly. The nation not only meets the demand for electronics domestically, but it alsexports electronic products tother nations. Hence, the growing end-user industries are expected tboost the demand in the region.
Region with highest CAGR:
Europe is projected thave the highest CAGR over the forecast period, owing tincreased demand in construction sector. An increase in financing and supportive measures, such as incentives, subsidies, and tax breaks, implemented by numerous governments, are projected tenhance regional growth. Additionally, the expanding use of silicone in the healthcare sector for aesthetic implants and the renewable energy sector for uses in windmills and solar panels is expected tdrive region growth.
Key players in the market
Some of the key players profiled in the Silicone Gel Market include DOW Corning Corporation, Nusil Technology, ACC Silicones Ltd., Wacker Chemie AG, KCC Corporation, Henkel AG & Co., Applied Silicone Corporation, Siltech Corporation, DowDuPont, Bluestar Silicones, North Coast Medical, Novagard Solutions, Momentive Performance Materials, Gelest Inc., Shin-Etsu Chemical Co., Ltd., Momentive Performance Materials Inc. and Elkem ASA.
Key Developments:
In December 2020, Wacker Chemie AG announced the launch of new silicone sealants produced from renewable raw materials. It is launched under the brand name ELASTOSIL ecand with the launch of this new product, the company can provide products manufactured using bio-based methanol tsilicone sealant suppliers.
In December 2019, Elkem ASA acquired Polysil, a Chinese silicone elastomers and resins company. This acquisition will enhance the product portfoliand gain strong positions in food grade and baby food silicones industries, alssilicone products for the medical and electronics markets.
Product Types Covered:
• Industrial Silicone Gel
• Medical Silicone Gel
• Other Product Types
Thickness Covered:
• Below 2.5 nm
• 5–5 nm
• 5–7.0 nm
• Above 7.0 nm
End Users Covered:
• Electrical & Electronics
• Cosmetics & Personal Care
• Medical & Pharmaceuticals
• LED Lighting
• Photovoltaic Sector
• HV Insulation
• Scar Treatment & Wound Care
• Prosthetic & Implant
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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