Silicone Film Market worth $1,087 million by 2023 - Top Growing Segments and Future Development

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).

(EMAILWIRE.COM, October 22, 2021 ) The report "Silicone Film Market by Type (Silicone Film, Silicone Coated Film, and Silicone Release Liners), End-Use Industry, and Region (APAC, Europe, North America, Middle East & Africa, and South America) - Global Forecast to 2023", The Silicone Film Market is projected to grow from USD 794 million in 2018 to USD 1,087 million by 2023, at a CAGR of 6.5% from 2018 to 2023.

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The superior properties of silicone film coupled with their increasing demand from various end-use industries are expected to drive the market during the forecast period. However, high manufacturing and raw material cost restrain the growth of silicone film market.

On the basis of end-use industry, the electronics segment is estimated to lead the silicone film market in 2018.
The growing trend of miniaturization in the electronics industry has forced electronics component manufacturers to produce smaller components that require higher heat resistance to reduce the probability of failure and ensure reliability. Thus, the demand for silicone film in the electronics industry is increasing rapidly, as it provides adequate protection at component interfaces that is a critical requirement in higher power electronics.

On the basis of type, silicone release liners segment is projected to lead the silicone film market during the forecast period.
Silicone release liners is expected to account for the largest share, in terms of value as well as volume, of the silicone film market in 2018. Increasing use of silicone release liners due to their properties such as resistance to slip, moisture, and abrasion; and improved adhesion is propelling the silicone film market. Silicone release liners can be produced in multiple configurations, including substrate versions of one-sided and two-sided silicone paper liners. They can be mass produced to accommodate any shape, size, and color as per the applications.

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On the basis of region, APAC is projected to lead the silicone film market in 2018.
APAC is the largest silicone film market owing to high consumption of silicone film in the electronics end-use industry. Higher domestic demand along with easy availability of raw materials and low-cost labor make APAC the most preferred destination for the manufacturers of silicone film. Manufacturers focus on this region to gain a significant market share and increase profitability. These factors are attracting companies to adopt expansions and R&D in this region. China, India, Japan, and South Korea are some of the key silicone film markets 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). These players have established a strong foothold in the market by adopting strategies, such as expansion, new product launch, and merger & acquisition.

Recent Developments :

• In November 2018, Loparex expanded its European operation for release liner production. The Apeldoorn production facility in the Netherlands will be installing a new extruder to enhance Loparex capability further and to serve the global release liner market. The new extruder is expected to be operational by the first half of 2020. The new capacity will help the company to serve its customers with poly-coated release liners.
• In September 2018, Elkem expanded its silicone release liner offering by introducing new products and adding capacities, to support the growing needs of the label and packaging markets. The company has expanded global capacity for its Silcolease Optima systems by 15% to maintain its strong position in the release coatings market.
• In April 2017, Siliconature set up a manufacturing plant in Michigan, US. The company spent around USD 19 million to set up a factory in Grand Rapids, Michigan that employed about 26 employees. This expansion strengthened its position in the US silicone coated films and silicone release liners markets.

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