Silicone Prices Today, Price Chart and Forecast Analysis | Procurement Resource
In the first half of 2023, the Asian silicone market witnessed a mix of price fluctuations. A robust start in January saw increasing demands and rising prices, fueled by the anticipation of the Chinese holiday season. However, following the holidays, a rapid drop in demand resulted in price declines.
On the other hand, Europe’s silicone market had a slow beginning to the year, with low prices attributed to lackluster trade activities. Prices saw a revival due to the resolution of freight and supply chain issues, particularly influenced by the semiconductor sector’s requirements.
In North America, the silicone market underwent a dynamic journey, characterized by initially high prices driven by relentless demand from semiconductor and microchip production. Brief declines occurred with subsequent inventory increases, but prices regained momentum due to sustained demands, following 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 Prices, 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 plays an essential role in various industries, serving as a crucial insulator and sealant in electronics, particularly in semiconductor devices. Its biocompatibility makes it well-suited for medical devices in the healthcare sector. In construction, silicone’s weather-resistant properties make it valuable as both a sealant and adhesive. The automotive industry benefits from its use in gaskets and engine seals. Moreover, silicone’s water repellent and heat-resistant characteristics are utilized in consumer goods such as 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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We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence providing you with the latest and consistent data.
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