The report provides a detailed segmentation of the North America and Asia-Pacific silicone in heavy machinery market based on product type, component, and region. —
Based on product type, the elastomer segment accounted for the largest market share in 2019, holding more than two-fifths of the total share, and is estimated to maintain its lead throughout the forecast period. However, the fluids segment is expected to witness the highest CAGR of 6.2% from 2020 to 2027.
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Based on region, Asia-Pacific held the largest market share, accounting for more than half of the global share in 2019, and will maintain its leadership status throughout the forecast period. Moreover, this segment is estimated to witness the highest CAGR of 5.8% from 2020 to 2027. North America is expected to grow at a CAGR of 5.5% during the forecast period.
Leading players of the North America and Asia-Pacific silicone in heavy machinery market include Wacker Chemie AG, Dow inc., Elkem Silicones, Stockwell Elastomerics, KCC Silicon, Shin-Etsu Silicone, Avantor, Zhejiang XinAn Chemical Industrial Group Co. Ltd., and Momentive Performance Materials Inc.
Based on component, the switchgear segment held the largest market share in 2019, accounting for nearly two-thirds of the North America and Asia-Pacific silicone in heavy machinery market, and is projected to witness its dominance throughout the forecast period. Moreover, this segment is expected to witness a CAGR of 5.0% during the forecast period.
Enhanced properties of liquid silicone rubber (LSR) and ease in processing of LSR drive the growth of the North America and Asia-Pacific silicone in heavy machinery market. However, the non-recyclable nature of LSR hinders the market growth. On the other hand, demand for silicone rubber from the wind energy sector creates new opportunities in the coming years.
According to the report published by Allied Market Research, the North America and Asia-Pacific silicone in heavy machinery market is expected to generate $1.2 billion by 2027 and registering a CAGR of 5.6% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top winning strategies, major segments, top player positioning, and competitive scenario.
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Key offerings of the report:
• The market player positioning segment provides an understanding of the current position of the market players active in the silicone gel market.
Key offerings of the report:
• Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
• Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
• Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
• Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
• Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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