The market size of silicone film is estimated to be USD 794 million in 2018 and is projected to reach USD 1,087 million by 2023, at a CAGR of 6.5% from 2018 to 2023.
Silicone film possesses unique properties such as durability, dielectric nature, adhesion, discharge safety, ultraviolet (UV) stability, glossiness, transparency, softening, radiation resistance, hydrophobicity, heat resistance, and flexibility, which enable them to be used in myriad forms and applications. This is expected to drive the silicone film market during the forecast period.
APAC is the largest silicone film market owing to high consumption of silicone film in the electronics end-use industry. Higher domestic demand along with easy availability of raw materials and low-cost labor make APAC the most preferred destination for the manufacturers of silicone film. Manufacturers focus on this region to gain a significant market share and increase profitability. These factors are attracting companies to adopt expansions and R&D in this region. China, India, Japan, and South Korea are some of the key silicone film markets in the region.
The key players in the silicone film market include Wacker Chemie (Germany), Mitsubishi Chemical Corporation (Japan), Elkem (Norway), Momentive Performance Materials (US), and DowDuPont (US). The silicone film market report analyzes the key growth strategies adopted by leading market players, between 2013 and 2018, which include expansion, new product launch, and merger & acquisition.
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Wacker Chemie is among the key players in the silicone film market, which has adopted both organic and inorganic strategies, such as new product launch, expansion, and merger & acquisition. The company provides specialty chemical products, with over 3,000 silicone products. Wacker Chemie has a strong product portfolio of pure silicone film. It offers silicone film through its brands ELASTOSIL and SILPURAN. It is one of the leading silicone manufacturing companies, globally. The company is investing in R&D to enhance its silicone film product portfolio. It has a strong presence in APAC, Europe, North America, and South America.
Mitsubishi Chemical Corporation leads the silicone film market. Performance products, which is a part of the company’s business segment, accounted for 30.8% of total businesses, in 2017. The company offers a wide range of pure silicone and silicone coated films. It offers pure silicone film through its brand KEIJU. Mitsubishi Chemical Corporation is working to expand its presence in the market for silicone and silicone intermediates. The company, in 2017, integrated three consolidated subsidiaries namely, Mitsubishi Plastics, Inc., Mitsubishi Chemical Corporation, and Mitsubishi Rayon Co., Ltd. into one company to establish an organizational structure that can take full advantage of each company’s capitals and fortes to address a rapidly changing business climate and drive the expansion of its business.
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