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Global silicone consumption continues to grow rapidly

Views: 0     Author: Site Editor     Publish Time: 2021-02-28      Origin: Site

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Silicone is a new material with high performance. Due to a wide range of downstream demand, the growth rate of silicone demand has been higher than the global GDP growth rate.Statistics show that the annual compound growth rate of global silicone demand is about 5%, while the IMF (International Monetary Fund) global GDP growth rate is only 3.55% in the same period.

According to the silicone market forecast report, from 2017 to 2022, the world silicone market will maintain an average annual growth rate of 6%, the market size will rise from $14.2 billion in 2017 to $19 billion in 2022.There are two main reasons for the growth of organic silicon market in the future. First, organic silicon shows its superior performance and plays a role in more and more broad fields. The consumer demand for organic silicon in emerging application fields such as new materials, biological medical treatment, new energy, high-end equipment manufacturing and daily necessities keeps growing rapidly.Take silicone liquid glue as an example, the application of this product in medical devices will drive the further growth of the demand for this product worldwide.The second reason has much to do with the rapid growth of demand from emerging markets in Asia Pacific, the Middle East and Africa.Emerging market countries' per capita GDP is low, and the per capita consumption of organic silicon still has a big gap and growth prospect compared with developed countries, which will greatly increase the market demand of organic silicon.


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