Demand for U.S. silicones is projected to approach $4.4 billion in 2020.
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.
Elastomers and fluids are the two leading silicone product types, together accounting for more than 85% of total market value in 2015. Advances for elastomers going forward will be propelled by fast-growing and expanding opportunities in the medical field, as well as continued strong and widespread use in the construction sector.