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Monday, 14 October 2019
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Markets & companies, Raw materials market

World demand for silicones to reach USD 16.7 billion in 2015

Friday, 29 July 2011

According to Freedonia’s new study, world demand for silicones will rise 6.2 % per year until 2015.

The Asia/Pacific region will remain the largest and fastest-growing outlet for silicones through 2015. Source: sashpictures - Fotolia.com

The Asia/Pacific region will remain the largest and fastest-growing outlet for silicones through 2015. Source: sashpictures - Fotolia.com

World demand for silicones will rise 6.2 % per year to USD 16.7 billion in 2015. Advances will represent a notable acceleration from the pace of the 2005-2010 period, in which most developed world markets in North America and Western Europe experienced sluggish increases -- or even declines -- in silicone demand, according to the new study "World Silicones" by The Freedonia Group. Advances will also be fueled by the increased penetration of high-value silicone materials into emerging applications, particularly in the newly industrialized nations of the world where the use of silicones is not yet mature. The Asia/Pacific region will remain the largest and fastest-growing outlet for silicones through 2015. Gains will continue to be driven by the large silicone market in China; although slowing from the nearly 20 % annual growth seen during the 2005-2010 period, the country will post strong double-digit annual gains going forward. Above-average growth is also forecast for Central and South America, Eastern Europe and the Africa/Mideast region, areas in which silicone demand per capita is currently among the lowest in the world.

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