Prominent players must undertake multipronged strategies such as collaborations with other industry giants, along with capacity and geographical expansion in high growth regions to meet soaring demand of polydimethylsiloxane
DUBAI, UAE / ACCESSWIRE / February 19, 2020 / The growth of polydimethylsiloxane market is poised for a steady CAGR of more than 4% during 2019 - 2029. Although non-biodegradable, polydimethylsiloxane is disposable through advanced waste treatment facilities. This would remain a critical factor sustaining its demand throughout the projection period. Moreover, polydimethylsiloxane market is receiving tailwinds from heightened demand in cosmetics, industrial processes, and construction industry, finds a newFact.MR study.
"Adoption of polydimethylsiloxane by cosmetics and construction industries, and in industrial processes, has gained notable momentum, owing to its sustainable attributes. Industrial process in particular is witnessing widespread adoption in view of increased investments by governments in emerging nations," concludes the Fact.MR report.
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Polydimethylsiloxane Market: Key Takeaways
- Industrial process remains top consumer segment in polydimethylsiloxane market, with about 36% market share projected in 2029.
- Construction and industrial process collectively constitute two-thirds of global polydimethylsiloxane consumption.
- Elastomers continue to be preferred product in global polydimethylsiloxane market.
- Gains in polydimethylsiloxane market will remain concentrated in East Asia.
Polydimethylsiloxane Market: Key Driving Factors
- Polydimethylsiloxane consumption in construction is predominantly driving market growth.
- Increased R&D of eco-friendly adhesives, coating materials, and sealants is a major market growth contributor.
- Investments in infrastructural development are fueling market growth in emerging economies.
- Lucrative opportunities in personal care & cosmetics industry continue to bolster the demand for polydimethylsiloxane.
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Polydimethylsiloxane Market: Key Constraints
- Sustainable disposal of polydimethylsiloxane is an expensive technique, which remains a major impediment to market growth.
- Consumers' reluctance about the use of polydimethylsiloxane as a cosmetic ingredient prevails as a significant barrier.
Competition Landscape
The global polydimethylsiloxane market is highly consolidated. Elkem ASA, Wacker Chemie AG, and DowDuPont Inc. collectively capture 50% of revenue share and are undertaking multipronged initiatives to maintain their market positioning. For instance, Wacker Chemie AG introduced a new silicone fluid,BELSIL (2018), specifically targeting its usage in the cosmetics sector. Moreover, DowDuPont Inc. launched silicone-based personal care and home products under a new brand name - DOWSIL. To cater to soaring demand, companies are channeling their resources towards market penetration, R&D, new launches, and collaborations.
About the Report
This 170-page study offers readers with comprehensive market forecast on the polydimethylsiloxane market. Global, regional and country level analysis of the latest industry trends impacting the polydimethylsiloxane market are covered in this Fact.MR study. The report offers compelling insights on polydimethylsiloxane market on the basis of end-use (healthcare, transport, electronics, personal care, construction and industrial process), product type (gels, resins, fluids and barrier elastomers) across six regions (Middle East & Africa, East Asia, Latin America, South Asia & Oceania, North America and Europe).
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