by Corinne Gangloff
June 6, 2024
Silicone gel suppliers will benefit from LEDs and solar panels production increases.
Cleveland OH, June 6, 2024 – According to the study, Global Silicones, global demand for silicone gels, foams, and pastes is forecast to grow 3.6% per year through 2028 to 60,100 metric tons. Gains in silicone gel demand will continue to track electrical equipment and electronic product manufacturing, as these industries account for the vast majority of silicone gel consumption.
Silicone gel suppliers will benefit from increased production of LEDs and solar panels, which will support sales gains in the face of the electronics miniaturization trends that are limiting demand in traditional applications.
Demand for silicone protective pastes will also be supported by growth in the electronics market.
Silicone foam demand will post growth in the transportation and healthcare markets, in such applications as noise dampening (motor vehicles) and wound dressings/bandages (healthcare).
Niche silicone products such as gels, foams, and pastes are offered by the global market leaders, as well as by smaller manufacturers that focus on more specialized products. Global market leaders that are significant players in the silicone gels, foams, and pastes market include: Elkem, Dow, Momentive Performance Chemicals and Wacker Chemie.
Research and development activity is still common in this market, with many market leaders recently launching new products:
In March 2023, Wacker Chemie launched BELSIL EG 3000 and BELSIL eco EG 3001 silicone elastomer gels, which were developed with an alternative formulation concept that replaces a siloxane-based solvent with organic substances commonly used in the cosmetics sector.
In November 2023, Wacker Chemie introduced SILPURAN 2124, a highly adhesive silicone gel suitable for producing adhesive layers required for atraumatic wound dressings and for fixing so-called wearables and other devices worn on the skin.
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