The polydimethylsiloxane (PDMS) market is expected to develop at a CAGR of over 4% during the forecast period. The major factor driving the growth of the polydimethylsiloxane market is increasing demand from the household & personal care end-use. Furthermore, high demand for elastomers which is further used in building & construction and the automotive industry is expected to propel the market during the period of forecast. On the flip-side, unfavorable conditions arising due to the sudden outbreak of COVID-19 is anticipated to foil the growth of the market studied.
- Elastomers are anticipated to dominate the Polydimethylsiloxane market during the forecast timeline. It is utilized as a siloxane-based elastomer for various applications across building & construction, electrical & electronic and several other industries.
- Asia-Pacific is expected to be the largest market due to the large-scale consumption of the polydimethylsiloxane products across various sectors in the region.
Key Market Trends
Elastomers to be the Largest Segment for Polydimethylsiloxane (PDMS) Market
- PDMS is a nontoxic dimethyl silicone-based oil with an ultrahigh molecular weight, low viscosity, and unique flow properties that lend it to widespread applications. It is easy to mold, even when blended in with the cross-linking agent, it stays fluid at room temperature for a long time. It can shape mold structures at high resolutions.
- Polydimethylsiloxane is broadly utilized as a siloxane-based elastomer in the healthcare, coating, and personal care industries. Its properties, for example, flexibility, straightforwardness, toughness, and long rack make it the exceptionally favored type of PDMS. The development of medicinal services, individual consideration, beauty care products, and different ventures is relied upon to drive the interest for PDMS elastomers.
- Over a couple of years, the worldwide pharmaceutical market has encountered huge development. In 2019, the total worldwide pharmaceutical market size is estimated at USD 1.25 trillion.
- The global income in the personal care segment is projected to amount USD 497.27 billion in 2020. The market is forecasted to develop every year by 4.9%.
- All the aforementioned factors are expected to drive the Polydimethylsiloxane (PDMS) market during the forecast period.
Asia-Pacific Region to Dominate Polydimethylsiloxane (PDMS) Market
- Asia-Pacific region holds a prominent share in the polydimethylsiloxane market globally and is expected to dominate the market during the forecast timeline.
- In 2019, the electrical and electronics segment of the Asia-Pacific region is estimated to develop by 5%.
- India's healthcare area is expected to be worth more than USD 280 billion in 2020. The nation's medicinal services are amongst the major areas in terms of income and employment.
- China's income in the personal care segment is projected to add USD 61.39 billion in 2020. It is relied upon to grow about a market volume of USD 71.39 billion by 2024.
- Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast timeframe.
The market for polydimethylsiloxane is fragmented. Some of the players in the market include Wacker Chemie AG, Dow, Elkem Silicones, Evonik Industries AG, and DuPont.
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