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New report: Global silicone gel market to grow at +8.4% CAGR forecast by 2024

New report: Global silicone gel market to grow at +8.4% CAGR forecast by 2024

Global Silicone Gel Market with figures as recent as 2017 and forecasts up to 2024 provides an overview of the industry including its definition, size, share, growth, applications and manufacturing technology. Report also explores the major industry players in detail as well as company profile, product specifications, capacity and production value.

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The Global Silicone Gel Market accounted for USD 678.3 million in 2016 and is projected to grow at a CAGR of 8.4% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Global Silicone Gel Market By Product (Inorganic Silicone Gel, Organic Silicone Gel); Thickness (above 7.0nm, 5nm to7.0nm, 4.5nm to 5nm, below 2.5nm); By End-Use Industry (Electrical & Electronics, Medical & Pharmaceuticals, Cosmetics & Personal Care); Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024

Short Market Segmentation: 

On the basis of product:- Inorganic silicone gel and organic silicone gel.

On the basis of thickness:- Above 7.0nm, 5nm to7.0nm, 4.5nm to 5nm, and below 2.5nm

On the basis of end use industry:- Electrical & electronics, medical & pharmaceuticals, cosmetics & personal care, and others.

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On the basis of geography:- North America, South America, Europe, Asia-Pacific and Middle East & Africa. 

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Competitive Analysis: 

The global silicone gel market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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Market Definition:

Silicone gel is a synthetic gel used to fill breast implants, effective in various types of scars such as superficial scars, hypertrophic scars, and keloids. It holds self-drying capacity. Patient having scars on their body parts may get troublesome to them sometimes when it cannot be covered from clothes, a self- drying gel i.e.

silicone gel has been introduced which is transparent when applied on skin. It has its wide application in electrical & electronics, medical & pharmaceuticals, cosmetics & personal care.

Efficient & superior properties of silicone gels may act as the major driver in the growth of silicone gel market. On the other hand, high manufacturing cost may hamper the market.

Major Market Drivers:

  • Efficient & superior properties of silicone gels
  • Low toxicity
  • Rapid increase in growth of electrical & electronics industry across the world
  • Upcoming demand from various new end-use industries

Market Restraint:                             

  • High manufacturing cost

 Major Market Competitors

  • Dow Corning Corporation,
  • Shin-Etsu Chemical Co., Ltd.,
  • Wacker Chemie AG,
  • Momentive,
  • Bluestar Silicones,
  • GELEST, INC,
  • KCC CORPORATION,
  • NUSIL,
  • Siltech Corporation,
  • Applied Silicone Corporation,
  • Henkel AG & Co. KGaA,
  • North Coast Medical Inc.,
  • Novagard Solutions,
  • Silicone Solutions,
  • among others.

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