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(I-AutoNewsWire.com, November 22, 2021 ) The global silicone resins market size is estimated to grow from USD 4.8 billion in 2021 to USD 6.3 billion by 2026, at a CAGR of 5.5% during the forecast period. Thedriving factors for the silicone resinsmarket is growing demand fromindustiral, automotive & transportation and building & construction is boosting the demand for silicone resinsindustries. Increasing demand from APAC will further drive the growth of the global silicone resinsmarket.
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The Dow Chemical Company (US), Evonik Industry AG (Germany), Shin-Etsu Chemical Co. Ltd. (Japan), Kaneka Corporation (Japan) and Wacker Chemie AG (Germany), among others, are the leading silicone resinsmanufacturers, globally. These companies adopted new product launch, expansion, agreements & contractsand merger &acquisition, as their key growth strategies between 2016and 2021 to earn a competitive advantage in the silicone resinsmarket.
The Dow Chemical Company is the largest player in the market. The Dow Chemical Company is one of the leading names in chemical market and provides extensive range of products in Silicone resins market for automotive & transportation, building & construction, electronics, industrial and healthcare sector especially. The company has good financial backgrounds and geographical presence with 113 manufacturing sites in 31 countries.
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Evonik Industry AG is the second-largest player of the silicone resinsmarket, globally. The company is one of the leading chemical company and manufactures products in the field of Silicone, polymer, life sciences and polySilicone markets for all key global industries. In March2018, the company opened a new laboratory in the Moscow Technical Center, for adhesives and sealants, in Russia to increase its research and development capacity as well as have more innovations in silicone resins market.
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