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Construction Surge Drives Silicone Demand

Thursday, April 7, 2016

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A new report shows building construction activity driving demand for silicones in the U.S., due to the construction industry’s ongoing recovery and its growing reliance upon high performance silicone-based adhesives, sealants and coatings.

Demand for silicones is expected to grow by 4.5 percent annually, reaching $4.4 billion in 2020, according to a study from the Freedonia Group Inc., a Cleveland-based industry research firm. Silicone production, meanwhile, should rise by 2.6 percent per year, to 908 million pounds.

Silicone elastomers
© iStock.com / BanksPhotos

Silicone elastomers, used in caulks and other construction applications, are predicted to achieve the most rapid gains by 2020, overtaking fluids as the largest silicone product type.

The report, "Silicones," predicts increased demand from medical and automotive markets as well as healthy growth in building construction activity.

Rising Construction Demand

Silicone elastomers, widely used in construction, are predicted to achieve the most rapid gains by 2020, and set to overtake fluids as the largest silicone product type in 2015. Demand for elastomers grew by 5.9 percent annually in 2010-15, and the Fredonia Group predicts annual growth of five percent over the next five years.

Silicone resins, used in paints and coatings, should also achieve healthy gains. Demand grew by 6.2 percent per year between 2010-15, with 5 percent annual growth predicted from 2015-20.

Silicone table
© 2016 The Freedonia Group, a division of MarketResearch.com Inc.
 

Ongoing technological developments and product innovations should also spur growth, according to the 278-page report, with these improvements enhancing silicone’s performance across a variety of applications.

Industrial, Medical and Consumer Demand

While building construction plays a significant role in rising demand for silicones, the most rapid growth is likely to come from the medical market, according to the report. The motor vehicle market should also continue to drive growth through 2020.

Liquid silicone rubber is increasingly employed in electronics, machinery, and medical markets due to its ease of processing, flexibility and ability to form high precision parts. Silicone gels, meanwhile, are being used in high-growth applications, such as solar cells and light emitting diodes (LEDs), as well as in breast implants and related uses.

About the Report

"Silicones" presents historical demand data for 2005, 2010 and 2015, with forecasts for 2020 and 2025. The data is broken down by product type, market and application. The study also considers market environment factors, evaluates company market share and profiles 40 U.S. industry participants.

   

Tagged categories: Coating chemistry; Coatings raw materials manufacturers; Coatings Technology; Construction chemicals; Freedonia; Market research; Silicone

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