Polydimethylsiloxane Market is forecast to reach $3.5 billion by 2026. The market is expected to grow at a CAGR of 5.5% during 2021-2026 owing to the increasing usage of polydimethylsiloxane (also known as dimethicone) in various end-use industries such as transportation, healthcare, construction, and more. It provides a surface that has a low interfacial free energy, is chemically inert, good gas permeability and good thermal stability, and is optically transparent due to which it is extensively used in various end-use industries. Additionally, the cost-efficient and environment-friendly properties of polydimethylsiloxane drive market growth. Globally, the flourishing construction industry and growing demand from the automotive industry are the prime growth drivers of the polydimethylsiloxane market. Thus, it is anticipated that all these factors are driving the growth of the polydimethylsiloxane market in various end-use industries during the forecast period.
The building and construction industry has been hit hard by the coronavirus (Covid-19) pandemic. With many of the roads empty and factory production lines halted, many general contractors have decided to close all their construction sites by reason of force majeure, considering that the social distancing cannot be guaranteed on construction sites. And since the construction projects are susceptible to supply chain concerns, and labor constraints, the non-availability of these are all leading to delays in project commissioning. Furthermore, the disruption of import-export of commodities and the strict lockdown has lowered the demand for the polydimethylsiloxane, which is hampering the market growth.
Polydimethylsiloxane Market Segment Analysis - By Type
The low-molecular weight polydimethylsiloxane segment held the largest share in the polydimethylsiloxane market in 2020, owing to increasing usage of low–molecular weight polydimethylsiloxane as a lubricant, antifoaming agent, and hydraulic fluid. It is widely used as bath fluids for laboratory use, heat transfer fluids, dielectric fluids, fluids for low viscosity damping, hydraulic fluids for low viscosity, and others. In addition, the demand for these products is increasing due to the expanding building & construction, and automotive industries in various regions. All these factors are driving the low–molecular weight polydimethylsiloxane demand during the forecast period.
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Polydimethylsiloxane Market Segment Analysis - By Form
The elastomer segment held the largest share in the polydimethylsiloxane market in 2020, owing to the increasing usage of polydimethylsiloxane elastomers. Polydimethylsiloxane elastomers are widely used in industrial applications, such as medical devices, microfluidic devices, personal care products, and others. The extensive properties of polydimethylsiloxane elastomers, such as elasticity, transparency, durability, and long shelf, make it the highly preferred form of polydimethylsiloxane. The growth of healthcare, personal care, cosmetics, and other industries in various regions such as the Asia Pacific, and Europe is expected to drive the demand for PDMS elastomers. Hence, it is anticipated that the increasing demand for elastomers will drive the polydimethylsiloxane market during the forecast period.
Polydimethylsiloxane Market Segment Analysis - By Application
The sealants segment held the largest share in the polydimethylsiloxane market in 2020, owing to the increasing usage of polydimethylsiloxane for manufacturing sealants. It provides a chemically inert surface, has good gas permeability and good thermal stability with low interfacial free energy, and is optically transparent. The polydimethylsiloxane based sealants are non-corrosive to electronic metals, including copper and brass, have low odor cure, releasing an alcohol vapor from the sealant surface during cure. They have excellent electrical insulation properties and are highly resistant to humidity, dust, dirt, UV, ozone, and chemical substances. Owing to these excellent characteristics that polydimethylsiloxane based sealants demand and applications are gradually on an upsurge, which is projected to flourish the polydimethylsiloxane market during the forecast period.
Polydimethylsiloxane Market Segment Analysis - By End-Use Industry
The building & construction industry held the largest share in the polydimethylsiloxane market in 2020 and is growing at a CAGR of 5.1%, owing to increasing usage of polydicyclopentadiene in building and construction. Silicones add value to building products. They are being used as performance and processing aids for various applications such as paver stones, pre-fabricated concrete, ready-mix concrete, dry mix mortars (self-leveling underlayments, stucco/render, and grouts), and construction materials. Polydimethylsiloxane is predominantly used in the production of adhesives, sealants, and coating materials. Also, the cost-efficient and environment-friendly properties of polydimethylsiloxane make it an ideal polymer-based siloxane material. These properties are highly explored in the manufacturing of adhesives, sealants, and coating formulations which are further used in building & construction. Thus, it is projected that these extensive properties of polydicyclopentadiene are driving the market growth in the building and construction industry during the forecast period.
Polydimethylsiloxane Market Segment Analysis - By Geography
Asia Pacific region held the largest share in the polydimethylsiloxane market in 2020 up to 38.4%. In countries such as India, China, and Singapore, the construction and construction sector is increasing due to economic reforms, infrastructural development, and increased individual per capita income. Population growth also leads to the need for more residential and commercial sectors, which is the main factor that boosts the building and construction industry. Projects, such as '100 smart cities' and 'Housing for All by 2022,' have been launched by the Indian government, which are forced to fuel the Indian residential construction market over the forecast period. The Singapore government spends at least S$2 billion on public infrastructure each month, according to the Australian Trade and Investment Commission. The Chinese construction industry is forecast to grow at an annual average of 5% in real terms between 2019 and 2023, according to the International Trade Administration (ITA). Due to various government initiatives, such as Foreign Direct Investments (FDI), construction and construction activities are also increasing. Such investments and initiatives by the government in the APAC region are anticipated to drive the polydimethylsiloxane market in the Asia Pacific during the forecast period.
Polydimethylsiloxane Market Drivers
Increasing Automotive Production
Polydimethylsiloxane is mainly used as precursors in the production of silicones although they also have applications as fuel additives in cleaners, car waxes, and polishes. Also, silicone oils are primarily used as lubricants, thermic fluid oils, or hydraulic fluids in automobiles. According to the International Trade Administration (ITA), China is the world’s largest vehicle market and the Chinese government is expecting that automobile production will reach 35 million by 2025. Also, according to OICA, the production of passenger cars has increased from in 4,131,358 2018 to 4,149,935 in 2019, an increase of 0.4% in the European Union's new member region. Thus, with the increasing automotive production, the demand for polydimethylsiloxane will also gradually increase, which will act as a driver for the polydimethylsiloxane market during the forecast period.
Increasing Personal Care & Cosmetics Industry
Polydimethylsiloxane is extensively used in the personal care & cosmetics industry. Antifoaming, skin protection, and conditioning properties of polydimethylsiloxane make it a suitable polymer-based silicone to be used in hair care, skincare, and cosmetic application. It is known that polydimethylsiloxane forms a skin hydrating barrier and reduces fine lines. It is therefore widely used in skincare products such as cleansers, anti-aging products, creams and lotions, and hair care products such as shampoos and conditioners. The market size of India's beauty, cosmetics, and grooming market will reach $20 billion from the current $6.5 billion by 2025, according to the India Brand Equity Foundation (IBEF). The market for beauty and personal care products in Thailand was valued at about $6.2 billion in 2018 and is projected to reach $8.0 billion in 2022, according to the International Trade Administration (ITA). The beauty and personal care industry in Thailand is expected to grow by 7.3 percent per year from 2019 to 2022. Tremendous growth has been witnessed in the personal care & cosmetics industry which acts as a driver for the polydimethylsiloxane market.
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Polydimethylsiloxane Market Challenges
Several Disadvantages Related to Polydicyclopentadiene
Despite the numerous advantages, polydimethylsiloxane has several disadvantages that have limited its broader application as an industrial material. Compared to other materials, polydimethylsiloxane has some potential disadvantages, including high hydrophobicity, which makes it difficult to fill micron-sized channels and minimal surface charge, resulting in reduced electroosmotic flow (EOF). In addition, the volatile price of raw materials, availability of substitute compounds, and demerits of being non-biodegradable material is expected to hinder the polydimethylsiloxane market. All these factors are anticipated to restrain the polydimethylsiloxane market growth during the forecast period.
Covid-19 Impact on the Polydimethylsiloxane Market
The construction and construction industries are facing problems due to the Covid-19 outbreak, such as delays in receiving polydimethylsiloxane from manufacturers due to restrictions on imports and exports of commodities. And since all construction and construction activities are halted until the pandemic, no new orders can be taken over, nor can existing order production be completed, which negatively limits the market for polydimethylsiloxane. In Quarter 2 (Apr to June) 2020, for example, construction output in Great Britain fell by a record 35.0 percent compared with Quarter 1 (Jan to Mar) 2020. This decline in value was due to the pandemic of the Corona Virus. Moreover, automotive production has been disruptively halted, contributing to a major loss in the overall automotive sector. For example, according to the European Association of Automobile Manufacturers, demand for new commercial vehicles across the EU remained low in June 2020 (-20.3 percent). With the decrease in automotive production, the demand for polydimethylsiloxane has significantly fallen, which is having a major impact on the polydimethylsiloxane market.
Polydimethylsiloxane Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the polydimethylsiloxane market. Major players in the polydimethylsiloxane market are Dow Du Pont Inc., Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, Avantor, Inc., Elkem ASA, KCC Corporation, Dongyue Group Limited, Alfa Aesar, CHT Group, and Zhonghao Chenguang Research Institute of Chemical Industry.
Acquisitions/Technology Launches
In October 2018, an agreement to acquire Momentive Performance Materials Inc. (US) for USD 3.2 billion was signed by KCC Corporation, along with Wonik Group and SJL Partners. The acquisition helped KCC strengthen its product portfolio of silicone products.
In March 2018, Wacker Chemie AG launched a new range of silicone fluids based on polydimethylsiloxane, namely BELSIL, which comprises six silicone fluids. Because of its viscosity range of 5 to 60,000 centistokes, the product is used in cosmetic applications such as the formulation of moisturizing creams, lotions, sunscreens, shampoos, and others.
In March 2018, with the opening of its new hydrosilylation plant for the manufacture of functional silicone fluids in Kolkata, Wacker Chemie AG has expanded its production facility. The expansion has helped the company meet the growing regional demand for specialty silicone forming industries such as textile, personal care, rigid and flexible polyurethane foam, and agrochemical industries.
Key Takeaways
Asia Pacific dominates the polydimethylsiloxane market, owing to the flourishing building and construction sector in the region. In terms of value, the Indian construction industry is expected to record a CAGR of 15.7 percent to reach $ 738.5 billion by 2022, according to Invest India.
Polydimethylsiloxane is the most widely used silicon-based organic polymer due to its non-toxic and non-flammable properties. It is extensively utilized in lubricants, antifoaming agents, and hydraulic fluids. Thus, these applications of polydimethylsiloxane are likely to add significant value to the polydimethylsiloxane market.
The growth of the polydimethylsiloxane market has been boosted by increasing applications of polydimethylsiloxane in different industries. However, the high cost of production of polydimethylsiloxane during the forecast period could limit the growth of the market for polydimethylsiloxane.
Due to the Covid-19 pandemic, most of the countries have gone under lockdown, due to which the building and construction projects are disruptively stopped, which is hampering the polydimethylsiloxane market growth.
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