DUBLIN--(BUSINESS WIRE)--The "Global Silicone Grease Market - Drivers, Restraints, Opportunities, Trends & Forecasts up to 2022" report has been added to Research and Markets' offering.
Automotive sector is the major contributor for the Silicone Grease Market followed by industrial sector. Silicone grease, even though a premium priced product, is preferred over other greases present in the market due to certain superior properties such as thermal resistance and better performance. The silicone grease market has seen a rise in demand over the years owing to increasing demand from developing countries and increased foreign direct investments by manufacturing companies in these regions. High production cost of silicone oil has been a limiting factor for the Silicone Grease Market ever since its introduction, but the superior performance has paved path for market growth.
Asia Pacific is one of the key consumers for silicone grease and is expected to grow at a higher rate during the forecast period with most of the demand generated from the developing countries such as China and India. China contributed majority of the revenue in the year 2016. The expected economic stability in Europe will boost its automotive sector thereby increasing market opportunities for silicone grease.
There has been an intense competition among the manufacturers due to presence of many big multinational companies with wide product profiles in silicone grease. All the companies are focusing on R&D to develop new products with improved efficiency to attain more customers, thus, increase their market share.
Some of the prominent companies operating in silicone grease market are Momentive Performance Materials Inc., Dow Corning Corporation, Elkem AS and Wacker Chemie AG, among many others.
- Asia Pacific
- North America
- Rest of the World
- Industry outlook: market trends and drivers, restraints, and opportunities
- 3M Company
- China Petroleum & Chemical Corporation
- Dow Corning Corporation
- Elkem AS
- Exxon Mobil Corporation
- Huntsman Corporation
- Momentive Performance Materials Inc.
- Royal Dutch Shell plc
- Shin-Etsu Chemical Co., Ltd.
- Wacker Chemie AG
For more information about this report visit https://www.researchandmarkets.com/research/kdw5x9/global_silicone