Silicone is on the rise, according to Silicones to 2014, a study from The Freedonia Group Inc. The study estimates silicone sales will grow 5.3% per year to reach sales of US $3.6 billion by 2014. The study finds that consumer goods such as personal care markets will remain a fast-growing market for silicones, as will medical products. It estimates more sluggish growth in areas such as automotive polishes and textile coatings.
The study notes that as competition from other materials intensifies, the continued demand for silicones will rely upon technological advancements and product innovation, suggesting an opportunity for chemists to develop new types of silicones and formulators to incorporate them in new ways in personal care products.
Silicone fluids were the leading product type in 2009, reportedly accounting for more than 40% of the silicone market. The study expects the demand for silicone fluids to rise at a below-average pace through 2014, while it expects stronger gains for elastomers and resins—and the strongest gains for silicone gels.