Silicone Film Market Share

Silicone Film Market Overview

Silicone films are used for protecting electronic appliances from heat and shock. These are basically used in semiconductors, electronic control units, printed circuit boards, LED devices, smartphones, and laptops due to their excellent electrical insulation and durability. Silicone film finds application in manufacturing wire insulation, lamps, and others. Its higher dielectric properties and better thermal stability are the major factors to drive the market. Therefore, the demand for silicone films is higher in the electrical and semiconductor industries, which are driving the Silicone Film Market's Growth.

Silicone resins-based films have various properties such as superior strength, resistance to extreme temperatures, durability, flexibility, resistance to chemicals, and non-toxic nature. Due to these, its application in the industrial verticals is increasing. The availability of silicone films includes PE-siliconized films, PP-siliconized films, low-density polyethylene films, high-density polyethylene, etc. These films are usually used in different industries, including medical, electronics, and packaging, among others.

Increased rate of consumption of silicone films in sectors like consumer electronics, booming E-commerce and food delivery service sectors are resulting in high consumption of silicone films due to its huge demand in the packaging industry; these are the factors that are propelling the Silicone Film Market Share.

The necessity to miniaturize electronics sets wide opportunities for the global Silicone Film Market Size. Silicone films are commonly used in the electronics industry due to their chemical stability, ozone and UV resistance, and decent thermal stability at different temperatures. Moreover, silicone films are preferred for higher power electronics due to their good thermal protection. These factors are rising the opportunities of the market.

The Silicone Film Market Revenue will grow rapidly due to the widespread applications of the product in several industries. The greater efficiency of silicone film as compared to the other materials has increased the demand for silicone films in the global market. Furthermore, silicone films are also used in medical sectors due to their biocompatibility, chemical stability, and resistance to high temperatures. 

The market size of silicone film is to be USD 794 million in 2018 and is projected to reach USD 1,087 million by 2023, at a CAGR of 6.5%, from 2022 - 2030

COVID-19 Analysis

The pandemic has shown a bad impact on most market growth, and it has also shown a negative impact on the drivers and the company’s revenue. The Silicone Film Market has even been a prey of the COVID-19 pandemic. The supply of raw products for the silicone film product has been delayed to the strict lockdown rules, which stopped the transport. The industries have faced issues while delivering their products to the end-users during the lockdown period. In the post-pandemic period, the market's industrial players focus more on the loss will help the market to stand back in its position. They are paying more attention to growth opportunities to meet the customers' needs. The strategies and hard work of the key players will help the Silicone Film Market Valueto reach the estimated CAGR by the forecast period.

Chief Factors Existing In The Market

Key Market Drivers

The growth drivers of the Silicone Film Marketare the chief reason the market is noticing a good growth rate. Research and development activities are an essential part of the growing traction of the market. Its application in different industrial verticals, especially in the semiconductor and electronics industries, is driving the market. The packaging industry is acting as the key driver of the Silicone Film Industry.

Market Challenges

The Silicone Film Market is also facing major challenges that hamper its growth. Less availability of raw materials and its lack of sources are challenging the market during the progress.

Market Opportunities

Rising growth opportunities such as the demand for silicone film in the electronics industries are setting huge remunerative opportunities for the global Silicone Film Market.

Market Restraints

The market constraints are hindering growth while progressing in the forecast period. High manufacturing costs and expensive raw material costs act as restraining factors of the market.

Cumulative Evaluation Of The Market

TheSilicone Film Market was evaluated in the recent reports, and the market is showing a healthy growth rate due to the presence of drivers and opportunities. Even being hit by the pandemic, the market will register good value in the coming days. The market's growth will remain consistent in the upcoming years, and it is expected to project a good percent of CAGR in the forecast period. The key players have taken their required time to understand the market report at the global level and work on their customer’s needs as per their requirements.

Market Segmentation

The Silicone Film Market is segmented into type and end-use. 

By Type

Based on the type segment, it is divided into release liner and coated-film. Between these, the silicone release liner is anticipated as the leading segment due to its significant compound annual growth rate due to its chemical resistance, high mechanical strength, and low shrinkage properties. These liners are highly applicable in electronic appliances, adhesive tape, pressure-sensitive labels, ceramic capacitors, and cast polymers materials, estimated to accelerate its segmental growth. 

By End-Use

The global Silicone Film Marketby end-use segment is classified into packaging, automotive, electronics, medical, industrial, and other industries. The electronics industry is anticipated as the leading segment contributing the largest share of the Silicone Film Market Share due to its higher mechanical and electrical insulation properties.

Regional Analysis

According to the global geographical status, the Silicone Film market is divided into major continents such as Asia-Pacific, Europe, Latin America, North America, and the Middle East & Africa.

 The Asia-Pacific market is considered to witness significant growth with a healthy CAGR due to rapid growth and usage of electronic products. Growing industrialization and economic development are also fuelling u[ the electronic industry.

The North American and European markets will also witness significant growth with strong CAGR during the evaluation period due to the rise in the application of silicone films in processed food & beverages and pharmaceutical industries. 

Other regions such as the Middle East and Africa will register a steady and considerable growth rate during the forecast period. Its key countries, such as UAE and Saudi Arabia, are the leading marketers for silicone film due to its huge application in the automotive and electronic industries.

Competitive Intensity Within The Industry 

The expansion was among the key growth strategies adopted by these leading players to enhance their regional presence and meet the growing demand for silicone film from emerging economies. The players invest extensively in these activities to gain novel insights into certain aspects. Upgrades and formulations help increase the players' revenues in the siliconized films market, eventually boosting the growth rate. Strategic collaborations are significant for the growth of the siliconized films market. The players frequently indulge in these collaborations. Mergers, acquisitions, joint ventures, and partnerships help increase the influence of the players in the siliconized films market, ultimately contributing to the growth of the siliconized films market.

• Loparex (US)


• 
  Momentive Performance Materials (US)


• DowDuPont (US)


• Elkem (Norway)


• Mitsubishi Chemical Corporation (Japan)


• Wacker Chemie (Germany)


• Tee Group Film (US)


• 
  Sappi Limited (South Africa)


• Polyplex Corporation Limited (India)


• Siliconature S.P.A. (Italy)


• TORAY INDUSTRIES, INC. (Japan)


• The Rubber Company (England)


• Garware Polyester Ltd. (India)


• Gascogne Group (France)


• Rayven, Inc. (US) 


• Indiana (Germany).

Recent Market Developments

August  2023: Momentive Performance Materials announced the expansion of its silicone film production capacity in China. The expansion is expected to be completed in 2024 and will double the company's silicone film production capacity in China.

August 2023: Wacker Chemie AG announced the development of a new silicone film that is designed for use in solar cells. The new film has excellent optical transmission and weather resistance properties.

September 2023: Evonik Industries announced the launch of its new TEGO® Foil TE 7 silicone film, which is designed for use in food packaging applications. The new film has excellent barrier properties and can help to extend the shelf life of food products.

Report Overview

The overview report of the Silicone Film Market studies states the recent growth of the market. It has also stated the predicted future growth rate. It is propelling rapidly due to the presence of growth drivers and opportunities. The restricting factors like the constraints factors show a negative impact, but the planned strategies will help the market grow smoothly. The market segmentation report stated the major segments and their types. Each of the segments has its significance. The regional analysis has shown the key continents and their countries where the market shows remarkable growth. The industrial players' involvement and development were responsible for the market's growth in various regions. The recent developments will help the market to rise with greater demand. The Silicone Film Market is estimated to attain a good CAGR and USD value during the review period.

Key Industrial Segments

By Type 

• Release Liner


• Coated Film

By End-Uses Industries 

• Electronics


• Packaging


• Industrial


• Medical


• Automotive