Silicone Film Market is expected to Witness a High Growth by 2023 – Top Key Players are Wacker Chemie and Mitsubishi Chemical Corporation

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.

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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.

Silicone release liners type is expected to be the fastest-growing segment, in terms of value and volume, in the silicone film market, during the forecast period.
On the basis of type, the silicone film market has been categorized into silicone film, silicone coated film, and silicone release liners. Silicone release liners is projected to be the fastest-growing type segment of the silicone film market during the forecast period, whereas silicone coated film is the second-fastest growing type. Silicone is the most commonly used release coating material due to its ability to offer a number of desirable performance characteristics, such as a distinct silicon-oxygen bond, ultra-low surface energy, and high gas permeability.

By end-use industry, the electronics is expected to be the largest segment, in terms of value and volume, in the silicone film market during the forecast period.
On the basis of end-use industry, the silicone film market has been segmented into electronics, medical, industrial, packaging, and others. Electronics is the largest and fastest-growing end-use industry of silicone film. Silicone films are widely used in the electronics industry due to their key properties, such as hydrophobicity, high dielectric breakdown, resistance to high and low temperatures, which enable them to be used in critical and harsh environments in the electronics end-use industry.

APAC is projected to be the largest and fastest-growing market, in terms of value and volume, during the forecast period.
On the basis of region, the silicone film market has been segmented into APAC, Europe, North America, Middle East & Africa, and South America. The market in APAC is more dynamic and competitive than its western counterparts owing to the high demand from end-use industries, namely, electronics, medical, packaging, and others. It is also the fastest-growing silicone film market in terms of both production and demand. The key end-use industries, especially electronics and medical are expected to witness significant growth during the next five years 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.

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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Critical questions the report answers:
• Are there any upcoming hot bets for the silicone film market?
• How are the market dynamics for different types of silicone films?
• What are the upcoming opportunities for different types of silicone film in emerging economies?
• What are the significant trends in end-use industries influencing the silicone film market?
• Who are the major manufacturers of silicone film?
• What are the factors governing the silicone film market in each region?

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