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Demand for U.S. silicones is projected to approach $4.4 billion in 2020.
February 1, 2017
U.S. demand for silicones is forecast to climb 4.5% annually to $4.4 billion in 2020, with volume rising 2.6% per year to 908 million lbs (see Table 1). This will be a moderation in gains from the performance of the 2010-2015 period, which saw exceptional growth as a result of a broad economic recovery from the recession of 2007-2009. These and other trends are presented in “Silicones,” a recent study from The Freedonia Group.
The global manufacturing industry has faced many challenges and has had to adapt to growing megatrends across the globe to remain competitive. Manufacturers have had to become more customer focused and flexible to keep up with consumers who are better informed about products on the market and expect new and improved products on demand.
Longtime readers of this column may note that I have always been a fan of silicone sealants; however, I worked for a manufacturer of these materials for many years, so I hope I can be totally objective. I have no doubt that the durability and longevity of silicones cannot be exceeded in most applications. However, I can offer you several observations from my personal experience using them at home.