According to the new market research report “Silicone Film Market by Type (Silicone Film, Silicone Coated Film, and Silicone Release Liners), End-Use Industry, and Region (APAC, Europe, North America, Middle East & Africa, and South America) – Global Forecast to 2023″, The Silicone Film Market is projected to grow from USD 794 million in 2018 to USD 1,087 million by 2023, at a CAGR of 6.5% from 2018 to 2023.
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Superior properties of the silicone film and high growth of end-use industries consuming silicone film are expected to drive the market during the forecast period.
The market size of silicone film is estimated to be USD 794 million in 2018 and is projected to reach USD 1,087 billion by 2023, at a CAGR of 6.5%, from 2018 to 2023. One of the major restraints of the silicone film market faced by manufacturers of silicone and silicone-based products such as film and elastomers is providing a good quality product at a low cost.
A sharp increase in the prices of raw materials in some of the major silicone producing regions and increasing energy & power costs, result in the high cost of the silicon film. For example, methyl chloride is a major raw material used in the manufacturing of silicone. The fluctuating prices of this chemical affect not only the silicone production but also downstream silicone products. Owing to the increased manufacturing costs, the margin for silicone film producers has decreased, and the prices of silicone film and the subsequent end products have increased. Thus, the high manufacturing cost can delay or even prevent the launch of new products, increasing the prices of any new product and restrain the market growth.
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Silicone film possesses unique properties such as durability, dielectric nature, adhesion, discharge safety, ultraviolet (UV) stability, glossiness, transparency, softening, radiation resistance, hydrophobicity, heat resistance, and flexibility, which enable them to be used in myriad forms and applications. This is expected to drive the silicone film market during the forecast period.
The key players in the silicone film market include Wacker Chemie (Germany), Mitsubishi Chemical Corporation (Japan), Elkem (Norway), Momentive Performance Materials (US), and DowDuPont (US). The silicone film market report analyzes the key growth strategies adopted by leading market players, between 2013 and 2018, which include expansion, new product launch, and merger & acquisition.
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Wacker Chemie is among the key players in the silicone film market, which has adopted both organic and inorganic strategies, such as new product launch, expansion, and merger & acquisition. The company provides specialty chemical products, with over 3,000 silicone products. Wacker Chemie has a strong product portfolio of pure silicone film. It offers silicone film through its brands ELASTOSIL and SILPURAN. It is one of the leading silicone manufacturing companies, globally. The company is investing in R&D to enhance its silicone film product portfolio. It has a strong presence in APAC, Europe, North America, and South America.
Mitsubishi Chemical Corporation leads the silicone film market. Performance products, which is a part of the company’s business segment, accounted for 30.8% of total businesses, in 2017. The company offers a wide range of pure silicone and silicone coated films. It offers pure silicone film through its brand KEIJU. Mitsubishi Chemical Corporation is working to expand its presence in the market for silicone and silicone intermediates. The company, in 2017, integrated three consolidated subsidiaries namely, Mitsubishi Plastics, Inc., Mitsubishi Chemical Corporation, and Mitsubishi Rayon Co., Ltd. into one company to establish an organizational structure that can take full advantage of each company’s capitals and fortes to address a rapidly changing business climate and drive the expansion of its business.
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