Please Wait.....
Report
Asia-Pacific Silicone Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 100 Pages I Mordor Intelligence
The Asia-Pacific silicone market is expected to register a CAGR of over 4% during the forecast period.
The silicone market was significantly impacted by the COVID-19 pandemic. Due to the global lockdown imposed by various governments in response to the pandemic, there has been a decrease in the demand for silicone products from a variety of end-user sectors. Due to this, there was a decline in the production and sales of silicone products, which had an impact on the market expansion. However, the market rebounded back in 2021 as a result of the rising demand for silicone products across the automotive, building, electronics, and medical industries.
Key Highlights
Over the short term, the demand for silicone products in the automotive industry is anticipated to grow in response to the growing desire for lightweight and fuel-efficient vehicles. Furthermore, the region's expanding construction sector is anticipated to fuel the demand for silicone products.
However, the high cost of silicone goods and the strict rules enforced by regional governments are predicted to hinder the market expansion.
Nevertheless, the growing demand for medical devices and equipment is expected to drive the demand for silicone products in the region.
China is expected to dominate the European market during the forecast period.
APAC Silicone Market Trends
Strong Demand from the Electronics Industry
In the electronics industry, silicone is used in the manufacture of connectors, seals, gaskets, and other components that are subjected to high temperatures and harsh environments. It is also used in electrical components, such as circuit boards and wiring harnesses, as an insulator. It is also used to make electronic device protective covers and provide a waterproof seal for electronic components. Additionally, the product is used to make printed circuit boards and other electronic components.
The Japanese electronics industry is one of the world's largest. According to the Japan Electronics and Information Technology Industries Association (JEITA), Japan produced 10% of the world's electronics by 2021. Domestic production of electronics increased 11% year on year to more than USD 80 billion in 2021.
The electronics industry in South Korea is among the most advanced in the world. It is a major producer of consumer electronics, semiconductors, and other electronic components on a global scale. Some of the world's largest electronics companies, such as Samsung and LG, are headquartered in South Korea. South Korea produced USD 200.77 billion in 2021, up 25% from the previous year, according to the Korea International Trade Association (KITA).
India, a prominent manufacturing hub, accounted USD 67 billion in 2021 for domestic electronics production. According to the India Brand Equity Foundation (IBEF). India's electronics sector accounts for approximately 3.4% of the country's GDP. Over the next six years, the government has committed nearly USD 17 billion to four PLI Schemes: Semiconductor and Design, Smartphones, IT Hardware, and Components.
Overall, it is anticipated that the region's market for silicone would be driven by the expanding electronics industry over the forecast period.
China to Dominate the Market
China is anticipated to dominate the Asia-Pacific market owing to its massive growth in the transportation, building materials, and electronics sectors. In the transportation industry, silicone is used in engines, transmissions, brakes, and other automotive systems, as well as gaskets, seals, and hoses.
Mobile phone manufacturing employs silicone in a number of different ways. It is employed in the construction of the phone's case as well as in sealing and safeguarding inside parts like the battery and display. Additionally, silicone is utilized to create gaskets and seals that preserve the phone dust- and are waterproof. The buttons and other tactile parts of the phone are also made of silicone.
China is the world's largest mobile manufacturing country, accounting for more than 30% of global production in 2022. According to the China Academy of Information and Communications Technology, China's mobile phone manufacturing capacity is expected to exceed 1.5 billion units by 2022, while domestic mobile phone shipments were 354.7 million units in 2021.
The battery is shielded by silicone against short circuits and other electrical dangers. Additionally, with a high melting point, silicone is perfect for applications requiring high temperatures. In addition, silicone resists corrosion and can sustain high temperatures, making it a perfect material for use in the production of lithium-ion batteries.
According to the China Association of Automobile Manufacturers (CAAM), 47 Chinese power battery companies produced 186.0 GWh in 2021, an increase of 182.3% year on year. The increase in production was primarily due to China's rapid growth in new energy vehicles (NEVs). By the end of the third quarter of 2022, China had produced 4.71 million NEVs and domestic sales exceeded 1.5 million units in 2021, representing a year-on-year increase of more than 80%. This expansion was fueled by government policies and subsidies, as well as the consumer demand for NEVs.
Considering the aforementioned factors, the Chinese silicone market is anticipated to rise steadily over the forecast period.
APAC Silicone Market Competitor Analysis
The Asia-Pacific silicone market is consolidated, some of the major players in the market include DOW CHEMICAL SILICONES KOREA LTD (SOUTH KOREA), DIC Corporation, Elkem ASA, KCC Corporation, Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, and others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Application in Automotive Sector
4.1.2 Increasing Usage in Healthcare Industry
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Government Regulation
4.2.2 Geopolitical Impact
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Value)
5.1 By Technology
5.1.1 Elastomers
5.1.2 Fluids
5.2 By End User
5.2.1 Transportation
5.2.2 Construction Materials
5.2.3 Electronics
5.2.4 Healthcare
5.2.5 Industrial Processes
5.2.6 Personal care and Consumer Products
5.2.7 Other End Users
5.3 By Geography
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 South Korea
5.3.5 ASEAN Countries
5.3.6 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by the Leading Players
6.4 Company Profiles
6.4.1 DOW CHEMICAL SILICONES KOREA LTD
6.4.2 DyStar Singapore Pte Ltd
6.4.3 DIC Corporation
6.4.4 Elkem ASA
6.4.5 KCC Corporation
6.4.6 Mitsubishi chemical holdings corporation
6.4.7 Shin-Etsu Chemical Co.
6.4.8 Jiangsu Mingzhu Silicone Rubber Material Co. ltd
6.4.9 Wynca Group
6.4.10 Wacker Chemie AG
6.4.11 Zhejiang Sucon Silicone Co. Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Potential Demand for Electro Active Polymers (EAP)
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security