Thermoplastic Silicone Hybrid Pellet: Introduction
- Thermoplastic silicone hybrid pellets are utilized as highly effective processing and performance aid in the production of fiber-reinforced plastic composite. Usage of this product in manufacturing of wood plastic composite can provide significant improvement in its mechanical properties.
- AMPLIFY Si PE 1000 Polymer System, a thermoplastic silicone hybrid pellet manufactured by Dow Inc., is widely utilized in decking, molding & sliding, fencing and other non-structural applications in the building & construction industry
- Thermoplastic silicone hybrid pellets are also used to manufacture eco-friendly building products, as they are prepared by blending sawmill by-products/ ground wood fibers with thermoplastic resin
Key Drivers of Thermoplastic Silicone Hybrid Pellet Market
- Thermoplastic silicone hybrid pellet is primarily consumed as additive in the manufacture of wood-plastic composite. Demand for low-cost & high-performance building products, such as wood-plastic composites that are eco-friendly and offer maintenance-free properties, is estimated to increase in the next few years. Wood-plastic composites produced from sawdust, pulp, bamboo, peanut hulls, and unused woodworking materials are combined with plastic powder, which helps protect the environment by cutting less trees than usual. Increase in environmental concerns among consumers all around the world is propelling the demand for thermoplastic silicone hybrid pellet.
- Rise in global population and disposable income are key factors that are fueling the demand of residential homes and various other construction projects. GDP of countries in Asia Pacific and GCC is increasing and governments of some countries such as Bahrain, India, KSA (Kingdom of Saudi Arabia), and the UAE are building more houses to cater the housing needs of their urban and rural population. Furthermore, global GDP increased from about US$16 Trn in 1970 to US$47 Trn in 2005. It is estimated to increase to US$100 Trn by 2030. High investments are being made in the building & construction industry for the last few years across the globe. Improvement in economic conditions in developing countries such as Vietnam, Indonesia, Thailand, and India, especially in the construction sector, is anticipated to boost the demand for wood-plastic composites, which can be used as building material, wall paneling, molding, etc. This is estimated to increase the demand for thermoplastic silicone hybrid pellets in the near future.
- According to a report published by Global Construction Perspectives and Oxford Economics in 2016, the global construction market is estimated to reach US$ 8 trillion by 2030, which is expected to be primarily driven by China, the U.S., and India. The report also pointed out that the construction market in the U.S. is estimated to expand at a faster pace, as compared to that in China over the next 15 years, and India is emerging as a new engine of expansion of the global construction market, expanding at almost twice the rate as that in China. Increase in construction activities in these countries is projected to boost the demand for wood-plastic composites as well as thermoplastic silicone hybrid pellets during the forecast period.
Key Restraints of Thermoplastic Silicone Hybrid Pellet Market
- The thermoplastic silicone hybrid pellet market is highly dependent on the production of wood-plastic composites. Various substitutes such as compressed fiberboard & phenolic panels can be utilized instead of wood-plastic composites and easy availability of this product is likely to hamper the thermoplastic silicone hybrid pellet market.
Covid-19 Impact on Thermoplastic Silicone Hybrid Pellet Market
- The COVID-19 pandemic has had a severe impact on its end-use industry. Disruption in supply of raw materials, such as wood particles and thermoplastic resin, has hampered the production of thermoplastic silicone hybrid pellets owing to the sudden lockdown caused by the COVID-19 pandemic. Lockdowns caused by the COVID-19 pandemic has put a hold on construction activities all around the world. These lockdowns have negatively impacted the market of thermoplastic silicone hybrid pellet. However, demand for thermoplastic silicone hybrid pellet are estimated to bounce back after 2020 until the government eases the restriction on construction activities.
Key Players Operating in Global Market
Key players operating in the global thermoplastic silicone hybrid pellet market include:
- Wacker Chemie AG
- Evonik Industries AG
- RTP Company
- Kingspan Group
- Accurate Plastics, Inc.
Global Thermoplastic Silicone Hybrid Pellet Market: Research Scope
Global Thermoplastic Silicone Hybrid Pellet Market, by Application
- Wood-Plastic Composites
- Medical devices
- Consumer electronics and wearables
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