According to a new market report published by Lucintel, the future of the silicone market looks promising with opportunities in the industrial processes, building and construction, personal care and consumer products, transportation, electronics, healthcare, and energy industries. The Middle Eastern and North African (MENA) silicone market is expected to decline in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to grow with a CAGR of 3%-5% from 2019 to 2025. The major drivers for this market are increasing construction activities and growth in automotive production.
In this market, silicon based products, such as elastomers, resin, fluids, and gels are used in various end use industries. Silicon based elastomers will remain the largest segment over the forecast period due to its increasing usage in various applications, such as voltage line insulators, cooking and baking, food storage products, sportswear and footwear, electronics, medical devices, and implants
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Within this market, building and construction will remain the largest end use industry over the forecast period due to growth in construction activities in Middle Eastern countries.
An emerging trend, which has a direct impact on the dynamics of the industry, includes development of antimicrobial silicone elastomer for medical and food and beverage sector. Dow, Momentive, Wacker Chemie, Elkem, and Evonik Industries are among the major suppliers in the Middle Eastern and North African silicone market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the Middle Eastern and North African silicone market by end use industry and product type. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Middle Eastern and North African Silicone Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the Middle Eastern and North African silicone market by end use industry and product type as follows:
By End Use [Value ($ Million) and Volume (M lbs) for 2014 – 2025]:
· Industrial Processes
· Building and Construction
· Personal Care and Consumer Products
· Transportation
· Electronics
· Medical and Healthcare
· Energy
· Others
By Product Type [Value ($ Million) for 2014 – 2025]:
· Elastomers
· Fluids
· Resins
· Gels
This 118 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
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