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U.S. Demand for Silicones to Reach $3.9 Billion
Posted: August 20, 2008The Freedonia Group, Inc. has forecast silicone demand in the U.S. to advance 4.2% per annum through 2012 to $3.9 billion. According to the firm’s new study, Silicones, demand is projected to increase 2.8% per annum in volume terms, reaching 825 million pounds. Growth will be spurred by ongoing technological advancements and product innovation, which will continue to improve the performance of silicone in a variety of markets and applications. Gains will also be aided by the rising use of silicone in numerous cosmetic and toiletry products, as well as expanding opportunities in medical applications. Increases will be somewhat limited, however, by a slowdown in production of machinery and equipment though 2012, as well as the relatively high cost of silicone.
Among the major product segments, silicone fluids are expected to grow at the fastest pace, rising 4.5% per year through 2012. Advances will be buoyed by strong growth in cosmetic and toiletry production, as these fluids tend to improve the performance of products such as antiperspirants, deodorants, eye makeup, foundation, lipsticks and shampoos.