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The silicones market size is forecast to increase by USD 8.76 billion at a CAGR of 7.32% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing expansion of the construction industry and the rising adoption in the electrical and electronics sector. In the construction industry, silicones are extensively used in the production of moisture-proofing boards and impregnation products for paints, enhancing the durability and water resistance of buildings. Simultaneously, in the electrical and electronics industry, silicones find extensive applications as antifoaming agents and resins in semiconductor manufacturing and insulation materials. Furthermore, the emergence of advanced technologies such as self-driving cars is fueling the demand for silicones in various automotive applications. Additionally, the personal care industry, including shampoos and blushes, utilizes silicones for their excellent skin-feel properties.
Despite these growth opportunities, the market faces challenges due to the fluctuating prices of raw materials, which can impact the profitability of silicone manufacturers. Wacker Chemie AG and other leading players in the market are investing in research and development to innovate and create cost-effective silicone solutions to mitigate these challenges.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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