In the Asian silicone market, the first half of 2023 revealed a blend of price movements. A robust January kickstarted with surging demands and escalating prices, riding the anticipation of the Chinese holiday season. However, post-holiday, a swift demand drop led to price declines.
Europe’s silicone market commenced the year sluggishly, encountering low prices due to lackluster trade activities. Resolving freight and supply chain concerns revitalized prices, especially driven by the semiconductor sector’s needs. North America’s silicones experienced a dynamic journey, marked by initial high prices due to relentless demand from semiconductor and microchip production. Subsequent inventory increases briefly drove prices down but regained momentum owing to sustained demands, charting a positive trajectory.
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Definition
Silicone is a versatile synthetic compound made up of silicon, oxygen, carbon, and hydrogen. Its unique properties, including heat resistance, flexibility, and water repellency, make it valuable in various industries. It finds applications in electronics, healthcare, construction, automotive, and consumer goods, serving as a sealant, adhesive, lubricant, insulator, and more.
Key Details About the Silicone Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Silicone in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Silicone Price chart, including India Silicone price, USA Silicone price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Silicone Price Trend:
Silicone is indispensable across diverse industries. It serves as a vital insulator and sealant in electronics, including semiconductor devices. In healthcare, its biocompatibility makes it ideal for medical devices. Construction benefits from its weather-resistant qualities as a sealant and adhesive. Automotive applications include gaskets and engine seals. Additionally, its water repellency and heat resistance find use in consumer goods like cookware and textiles.
Key Players:
- The Dow Chemical Company
- Evonik Industries AG
- Elkem ASA
- Shin-Etsu Chemical Co, Ltd.
- KCC Corporation
- Wacker Chemie AG
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