The global market for siloxane is projected to reach a valuation of more than US$ 25 Billion by 2027 according to the recent report published by Fact.MR. According to the company's recent research report, the global siloxanes market is expected to see a steady growth rate in both developed and developing countries during the forecast period. Due to the increasing demand for organic cosmetics and pharmaceutical products, the global sales of the market for siloxanes are expected to increase.
Growing demand for goods from the electronics sector is expected to drive the siloxane market due to its high thermal stability and resistance to weathering, humidity and UV radiation. In addition to this, increasing demand for lightweight materials in the automotive industry and rising R&D activities for product innovation is expected to boost the overall industrial growth in the coming years.
Siloxane, Meeting the Technical Requirements of Various Industry Verticals
Siloxane is commonly used as a sealant, adhesive and lubricant due to its differential properties. This is one of the main factors behind the growth of the global market for silicone. In addition, siloxane has several commercial applications ranging from electrical wire insulation to biomedical implants. Siloxane is increasingly used in paints & coatings, rubber & plastics, adhesives & sealants and fiber treatment activities.
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Growth in the overall market for siloxane is powered by an increase in demand from end-use industries such as electronics & semiconductors. Because of its temperature stability and excellent insulation, its ability to be adapted or changed for resistance requirements makes it extremely versatile for use in applications such as automotive, chemical & process engineering, medical, and other applications such as cosmetics and textiles which cover more than 20% of the application type market share.