Silicone Film Market Projected to Increase at a CAGR of 7.44% over the Assessment Period, Trends, Scope, Applications Due to Rising demands and Forecast to 2029
The Silicone Film Market Value is had reached a strong value above USD 1.67 billion by 2029 from USD 0.89 billion in 2020 and is estimated to register a CAGR of 7.44% during the forecast period.
Luton, Bedfordshire, United Kingdom, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Silicone Film Market.
Silicone film refers to transparent, cross-linked rubber silicone foils produced in a cleanroom environment without the use of solvents. Silicone films provide distinct and innovative advantages over other materials such as plastics, and as a result, they are widely used in a variety of end-use industries. For modern electronic devices, silicon films provide a strong covering or protective film solution. Silicone films are also used in a variety of applications, including smart sensors, automotive electronics, actuators, photovoltaics, and generators.
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The global silicone film market is expected to rise rapidly owing to the wide-ranging applications of the product in numerous industries. Silicone film finds application in manufacturing of wire insulation, lamps, lighting, power distribution and so forth. Its superior dielectric properties and good thermal stability is the key factor likely to drive global silicone film market. The greater efficiency of silicone film as compared to the other materials has increased the demand for silicone films in the global market.
Recent Development:
Wacker Chemie AG acquired a 60% stake in a Chinese specialty silane manufacturer in October 2022 to strengthen its position in the silicone elastomers market.
Momentive Performance Materials, Inc. announced the acquisition of KKC Corporation's silicones business in January 2022, strengthening its silicone elastomers market position for global Advanced silicones capabilities.
In December 2021, Dow, one of the largest manufacturers of silicone films, launched its latest silicone technology for advanced semiconductor packaging at a Taiwanese event. These silicone hotmelt solutions, silicone-organic hybrid adhesives, and silicone die-attach films outperform conventional organic adhesives for uniformity, high performance, durability, and processability.
APAC to be the leading region to dominate the market.
Asia-Pacific offers profitable in Silicone Film market opportunity for key players operating in the market, registering the fastest growth rate during the forecast period, thanks to growing electronics sector, rising disposable incomes, and well-established presence of domestic companies in the region. Increased acceptance and use of Silicone Film, a rapidly growing population, all contribute to the market’s growth.
Report Scope:
Report Attribute/Metric | Details |
Market Size | · USD 0.89 billion in 2021 |
CAGR | 7.44% (2022-2029) |
Base Year | 2021 |
Forecast Period | 2022 - 2029 |
Historical Data | 2017-2021 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, end-use, and region |
Geographies Covered | Asia-Pacific, Europe, Latin America, North America, and the Middle East & Africa |
Key Vendors | Wacker Chemie (Germany), Mitsubishi Chemical Corporation (Japan), Elkem (Norway), DowDuPont (US), Momentive Performance Materials (US), Loparex (US), Toray Advanced Film (Japan), Silicon Ture (Italy), Polyplex (India), and Sappi Limited (South Africa). |
Key Market Opportunities | Rapid advancements and developments in the electronics industry are projected to boost the growth |
Key Market Drivers | The increasing applications of silicone film in the packaging industry is estimated to boost the growth |
Company Usability Profiles:
The key players of the global silicone film market are Wacker Chemie, Mitsubishi Chemical Corporation, Elkem, DowDuPont, Momentive Performance Materials, Loparex, Toray Advanced Film, Siliconeature, Polyplex, and Sappi Limited. These key players of the global silicone market have adopted a strategical approach to increase their market penetration and to strengthen their market position. Market expansion and collaboration is among their key strategies.
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Key Market Segments: Silicone Film Market
Silicone Film Market by Type, 2020-2029, (USD Million)
Silicone Film
Silicone Coated Film
Silicone Release Liners
Silicone Film Market by End Use Industry, 2020-2029, (USD Million)
Electronics
Medical
Industrial
Packaging
Others
Silicone Film Market by Region, 2020-2029, (USD Million)
North America
Europe
Asia Pacific
South America
Middle East and Africa
Silicone Film Market: Trends and Opportunities
The global silicone film market is expected to rise rapidly owing to the wide-ranging applications of the product in numerous industries. Silicone film finds application in manufacturing of wire insulation, lamps, lighting, power distribution and so forth. Its superior dielectric properties and good thermal stability is the key factor likely to drive global silicone film market. The greater efficiency of silicone film as compared to the other materials has increased the demand for silicone films in the global market.
Additionally, silicone films are also used in medical applications due to their properties like chemical stability, biocompatibility, and resistance to high temperature. Based on the product type, silicone release liners are expected to hold the largest market share. This is due to their properties such as resistance to slip, moisture, abrasion, and improved adhesion. This is another factor propelling the growth of global silicone film market.
On the flipside, however, high cost of manufacturing and increased raw material cost could restrain the growth of global silicone film market. However, the increased demand of silicone film in the electronics industries, a key end user sector, is expected to offer remunerative opportunities to the global silicone film market.
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