Silicone Film Market, Growth, Trends and Forecast 2023
Silicone Film Market insights
Market Research Future predicted that the global silicone film market is set to attain the highest growth during the forecast period, 2018-2023.
The silicone film application in packaging applications is believed to grow at a considerable rate due to its superior, cost-effective properties, high heat resistance, and durability. Silicone film is used in flexible packaging. Flexible packaging applications mainly include food and confectionery, tobacco, and clothing. In addition, due to superior economic benefits, the use of silicone film should increase. The growing packaging industry, with growing demand for packaged foods and beverages for longer shelf life and ease of use, is likely to stimulate demand.
In addition, the demand for high quality and nutritious beverages is increasing rapidly due to changes in the dietary habits of occasional consumers, which is probably the growing bottle market and, which escalates the demand for silicone films. Silicone film has turned out to be the most preferred material in many end-use sectors such as electronics and healthcare, automotive, construction due to its superior advantages over other materials such as excellent economy, chemical resistance, and low density. Among the above applications, demand for silicone film is rapidly increasing in the automotive industry owing to its low coefficient of linear thermal expansion and direct effect on total vehicle density, weight, and toughness.
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Silicone Film Market Segmentation
The global market for silicone films is separated based on types and applications. The global silicon film market is divided into two categories by type into release linear and coated film. The linear release segment of the silicone films had a significant market share in 2017 and is expected to become the leading segment during the forecast period due to the increasing use of low-density polyethylene (LDPE) in medical and electronic packaging.
The end-user segment of the global silicone film market analysis is bifurcated into electronics, packaging, automobiles, industry, and others. The electronics industry is estimated to be in a leading position with the largest share in the global market. The packaging is anticipated to be the rapidly growing segment due to extensive applications in various processed foods and beverages.
Silicone Film Market Regional Analysis
Asia Pacific is expected to account for the largest share of the global silicon film market share due to favorable government policies in the electronics sector, such as high foreign direct investment (FDI) in China and India.
Europe and North America are anticipated to see a noteworthy growth in during the evaluation period due to rising silicone film applications in the food & beverage and pharmaceutical industry.
Moreover, The Middle East and Africa are predicted to register a considerable growth rate due to escalating demand for silicone films in the automotive and F&B segment.
Major Players
Most companies operating in this market are adopting the strategy of expanding their strategic activities to new regions, investment in research and development to deliver enhanced functionality products. The top players in the global silicone film market are TORAY INDUSTRIES, INC, Sappi Limited, Polyplex Corporation Limited, Tee Group Film, Siliconature S.P.A., Mitsubishi Chemical Corporation, Gascogne Group, Momentive Performance Materials, Garware Polyester Ltd, The Rubber Company, Rayven, Inc, Elkem, and others
Key Players
Some of the key players in the global soy derivatives market are Cargill Inc. (US), CHS Inc. (US), Ruchi Soya Industries Ltd (India), Dupont Nutrition and Health (US), Noble Group Ltd (Hong Kong), Wilmar International Ltd (Singapore), Archer Daniels Midland Company (US), Bunge Ltd (US), Louis Dreyfus Company BV (Netherlands), and AG Processing Inc. (US)