PORTLAND - According to a new report published by Allied Market Research, the silicones market is expected to reach $20.784 billion by 2022, growing at a CAGR of 4.9% from 2016 to 2022. The silicone elastomers segment dominated with more than one-third share of the market revenue and volume in 2015.
The silicone market is driven by factors such as rapid infrastructure development, growing adoption of medical implants, and superior properties, namely less CO2 and other greenhouse gas emissions from silicone products. Silicones bond with most materials, from concrete, glass, granite, and marble to aluminum, steel, and plastics. They are often the best choice for various infrastructure activities owing to advantages such as high durability and resistance to decay caused by weather, moisture or sunlight.