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Silicone gel is an artificial gel used to fill breast implants, effective in numerous types of scars, including superficial scars, hypertrophic scars, and keloids. Advanced properties of silicone gel include its capacity to absorb heat and shock. Accelerated demand in numerous end-use industries worldwide specifically in emerging economies acts as a key factor fueling the growth of the global silicone gel market. Silicone gel in gaining traction in numerous fields of electrical & electronics, medical & pharmaceuticals, and cosmetics & personal care. Silicone gels are especially used in encapsulation of electronic components in the automobile and power electronics industries. The properties of silicone gel which includes heat & cold resistance, high dielectric breakdown, and hydrophobicity make it suitable in the electric & electronics industry. Furthermore, increase in awareness among consumers about the advantages of natural silicone gel over inorganic silicone gel contributes toward the growth of the market.
The novel coronavirus has a widespread effect on the automobile and electrical industries. The worldwide lockdown implemented has led to decline in demand for consumer goods significantly. Moreover, supply chain disruptions and lack of manpower are acting as significant challenges in manufacturing of various consumer products. The government across the globe has forced shut down of various industries to prevent the further spread of the virus.
Rapid growth in demand for silicone gel from the electrical & electronics industry is a key driver fueling the global market for silicone gel. The medical application sector is projected to grow at a significant rate due to increase in usage of silicone gel in medical implants. Rise in use of prosthetics and implants in the medical application sector is expected to boost the market growth. Other than clinical applications, silicone gel is widely applicable in the LED lighting industry. Silicone gel plays a crucial role in the safety of the diode and improving light transmission. Furthermore, it can be used as a packaging material to cover and protect ready-to-ship lights or display units. However, high expenses of silicone gel in terms of manufacturing and volatile costs of raw materials act as key restraints of the global market.
Surge in demand for silicone gel in the renewable power industry is one of the key trends anticipated to gain traction. Silicone gel is significantly used as an encapsulant for solar photovoltaic modules due to its lightweight and stable properties. Increase in demand for medicines in emerging economies, including India and China is projected to drive biopharmaceuticals demand, which, in turn, will boost the growth of the silicone gel market.
In terms of geography, the silicone gel market is analyzed across North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The key aspect fueling the growth of silicone gel market in Asia-Pacific include the presence of end-use industries in the region. Latin America and Middle East & Africa will showcase a slow rate of growth, while Europe will show decreased demand for silicone as a result of significant stakes at risk.
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Questions answered in the global silicone gel market research report:
Silicone Gel Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | Chemchina, Wacker Chemie AG, Elkem Silicones, Momentive, Dow, Gelest, Inc, Henkel Adhesives Technologies India Private Limited, CHT Germany Gmbh, North Coast Medical Inc.,, Clariant, Anand Biotech, Laboratories Arion, Kcc Corporation, Mccoy Group of Companies, Shin-Etsu Chemical Co., Ltd., Novagard Solutions, Nusil, Siltech Corporation, Apple Rubber Products, Lanxess, B.P. Chemicals, Silicone Solutions, Silicones, Inc. |
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