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Global Silicones Market Report, Market Size, Share, Trends, Analysis and Forecast to 2028
The term "silicone" refers to a polymer made from siloxane that is employed in the production of synthetic rubber and lubricants. They are distinguished by their hydrophobicity, thermal stability, and physiological inertness. Dental impression materials and surgical implants are both made with silicone, which is used extensively in the medical sector. This expansion can be primarily attributed to the rise in automotive vehicle demand across numerous global industries. According to statistics, in the upcoming years, increased demand from the healthcare sector is predicted to become the most popular growth interest globally.
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Owing to the growing construction industry and projects in several economies, including the UK and Germany, the European region is expected to witness the highest growth rate. Germany is the center of Europe's automotive manufacturing industry. France, Italy, and the UK will increase market demand. The market is also expected to grow as a result of silicone's expanding use in cosmetic implants in the healthcare industry. Additionally, Europe is one of the biggest markets for personal care and cosmetics in the world. Cosmetics Europe estimates that the retail sales of cosmetics and personal care products in Europe were around USD 83 billion in 2021 and are increasing rapidly. This factor offers new opportunities for silicone business expansion in this area in the near future.
Some of the key players profiled in the Silicones Market include AbbVie Inc., BRB International B.V., CHT Group, Dow Chemical Company, DyStar Singapore Pte Ltd, Elkem ASA, Evonik Industries AG, Hoshine Silicon Industry Co. Ltd, Hutchinson, Illinois Tool Works Inc., Jiangsu Mingzhu Silicone Rubber Material Co. Ltd, Kaneka Corporation, KCC Corporation, Kemira Oyj, Mitsubishi Chemical Holdings Corporation, Momentive Performance Materials Inc., Shin-Etsu Chemical Co.LTD., Wacker Chemie AG, Wynca Group and Zhejiang Sucon Silicone Co. Ltd.
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