ALBANY, NY, March 15, 2022 /PRNewswire/ — The silicone masterbatch market is expected to register growth at a CAGR of 6.3% during the forecast period of 2021 to 2031, according to a research report by Transparency Market Research (TMR).
Motor vehicle sales increased in several European countries. In addition, government authorities in Europe increasing initiatives aimed at reducing carbon emission levels, thus limiting the serious repercussions of greenhouse gas emissions. As a result, they impose strict regulations on trucks and light commercial vehicles to meet specific emission standards, notes the TMR study on the silicone masterbatch market. Therefore, companies operating in the automotive industry use lightweight materials in the development of key automotive parts. The demand for silicone masterbatches is increasing in the industry, due to its key properties such as high strength, low coefficient of friction and fire resistance.
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Silicone Masterbatch Market: Key Findings
- Silicone is used in a wide range of industries in the manufacture of transportation products such as interior PP parts for automobiles and different energy products including wires and cables, according to TMR Masterbatch Market Study of silicon. Additionally, these materials are also increasingly being used to produce packaging products, including BOPP films. This wide application range of silicone creates lucrative prospects in the silicone masterbatch market.
- Silicone masterbatches find application in the production of paints, inks and coatings, due to the many properties they exhibit, including abrasion resistance and high slip. Hence, increasing demand for these products is expected to drive the silicone masterbatch market in the coming years.
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- Flame retardant cables and wires are used in different end-use industries, including consumer electronics, automotive, and telecommunications industries. Rising demand for these cables and wires is driving the sales of silicon masterbatches which, in turn, is fueling the growth avenues for the silicone masterbatches market.
- Silicone masterbatches are widely used in the production of different household appliances, due to their mechanical properties. Hence, increasing sales of home appliances in many emerging economies is propelling the silicone masterbatch market. In addition, the market is driven by the increasing use of silicone masterbatches as wetting and lubricating agents and surfactants.
Silicone Masterbatches Market: Growth Boosters
- Expanding consumer electronics, automotive, packaging and construction industries are expected to bolster the silicone masterbatch market over the forecast period
- Increased demand for stable electricity supply and economic growth of Europe are expected to boost the sales of wire and cable which, in turn, is expected to help expand the market in the near future
- The increased use of silicone masterbatches in the personal care and pulp and paper industries is creating lucrative prospects in the silicone masterbatch market
- The surge in demand for durable and lightweight automotive vehicles to reduce carbon emission levels is expected to generate revenue generation opportunities in the silicone masterbatch market over the forecast period
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Silicone Masterbatch Market: Key Players
Some of the key players profiled in the report are:
- Momentive Performance Materials
- Du Pont
- Avenir Corporation
- Wacker Chemie AG
- AB specialty silicones
- Dow Corning
- Silteq Ltd
- Chengdu Silike Technology Co., Ltd.
- ACSIC ingredients
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Silicone Masterbatch Market Segmentation
- wires and cables
- PP Auto Interior Parts
- BOPP films
- PC/ABS Parts
- Others (including industrial)
Main countries covered
- Rest of Europe
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SOURCE Transparency Market Research