CHICAGO, July 2, 2019 /PRNewswire/ -- According to the new market research report "PDMS Market by Type (LMW, HMW, UHMW), Form (Elastomers, Fluids, Resins), End-Use Industries (Industrial Process, Building & Construction, Household & Personal Care, Electrical & Electronics, Transportation, Healthcare) and Region - Global Forecast to 2024", published by MarketsandMarkets™, the Polydimethylsiloxane (PDMS) Market size is projected to grow from USD 4.0 billion in 2019 to USD 5.2 billion by 2024, at a CAGR of 6.0% during the forecast period.
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Low-molecular weight PDMS segment is estimated to dominate the overall market.
Low-molecular weight polydimethylsiloxane is used majorly as a lubricant, antifoaming agent, and hydraulic fluid. It also finds its applications as laboratory bath fluids, heat transfer fluids, dielectric fluids, and others in various application industries. The increasing demand for these products from the industrial processes, building & construction, and automotive sectors owing to infrastructural development and increasing commercial & private vehicle are driving the demand for low-molecular weight PDMS.
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Elastomers are projected to be the fastest-growing form of PDMS during the forecast period.
Elastomers are projected to be the fastest-growing form of PDMS during the forecast period. PDMS elastomers are highly non-reactive, stable, and resistant to extreme environments and temperature ranges. Its properties such as nontoxicity, biocompatibility, elasticity, transparency, durability, long shelf and others makes it ideal to be used in end-use industries such as household & personal care, healthcare, electrical & electronics, and others. Thus, the expected growth of these industries will drive the elastomers market during the furcate period.
The industrial process is estimated to be the largest end-use industry of PDMS during the forecast period.
The industrial process is estimated to be the largest end-use industry of PDMS during the forecast period. PDMS is highly used in various industrial applications owing to its properties such as resistance to high pressure, high temperature, and others. Some of the major industrial applications consuming PDMS are industrial coatings, anti-foaming agents in oil & gas extraction, paint additives and others. Thus, the expected growth of these applications owing to the development of industries such as construction, automotive, oil & gas, and others are expected to drive the PDMS demand.
APAC is estimated to be the largest PDMS market during the forecast period.
APAC is projected to be the largest PDMS market during the forecast period. The growth of industries such as manufacturing, building & construction, personal care & consumer products and others are expected to drive the demand for PDMS in this region. The major factors driving the growth of these industries are high economic growth rate, availability of cheap labor, and global shift of the production capacity from the developed markets.
DowDuPont Inc. (US), Shin-Etsu Chemical Co., Ltd. (Japan), Wacker Chemie AG (Germany), Avantor, Inc. (US), Elkem ASA (Norway), KCC Corporation (South Korea), Dongyue Group Limited (China), Alfa Aesar (UK), CHT Group (Germany), and Zhonghao Chenguang Research Institute of Chemical Industry (China) are the leading players operating in the PDMS Market.
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