MARKET ANALYSIS
Silicone hose is flexible cylindrical hallow tube made of various formulation of silicone rubber. The products are made from silicone material depending on the various industrial demands. These products exhibit unique physical and chemical characteristics of silicone material such as flexibility, stability, wide range of working temperature, resistance to many chemicals.
GROWTH DRIVERS AND CHALLENGES
Increasing awareness regarding the properties of silicone hose and rising popularity in various end use industries such as pharmaceuticals, automotive, chemicals, food and beverages has expected to surge the demand for silicone hose. In automotive industry, silicone hose is used in variety of application including air intake, fuel systems, and cooling systems. These hoses are manufactured from high-grade silicone and are designed to resist extreme pressure, temperature, and chemical corrosion which has surged in demand in automotive industry. Rising automotive production has surged the demand for silicone hose. According to The European Automobile Manufacturers’ Association (ACEA), in 2021, 79.1 million motor vehicles were produced worldwide, an increase of 1.3% compared to 2020. However, lack of product differentiation and lack of standardization in manufacturing of silicone hose is expected to hamper the growth of market during the forecast period.
REPORT SEGMENTATION AND SCOPE
The "Global Silicone Hose Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global silicone hose market trends and growth opportunities. The report aims to provide an overview of the global silicone hose market with detailed market segmentation by type, product type, end user, and geography. The global silicone hose market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of silicone hose worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the silicone hose market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the silicone hose market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative silicone hose market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global silicone hose market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global silicone hose market is segmented on the basis of type, product type, and end user. Based on type, the silicone hose market is bifurcated as, natural rubber and synthetic rubber. The silicone hose market is categorized on the basis of product type into, vacuum hose, heater hose, braided hose, corrugated hose, and others. On the basis of end user, the silicone hose market is segmented into pharmaceutical, biomedical, food and beverage, automotive, chemical, and others.
Based on type, natural rubber accounted for a significant silicone hose market share which can be attributed to several benefits offered by natural rubber. Natural rubber characteristics such as low compression set, high tensile strength, tear resistance, excellent bonding capabilities, and good friction characteristics. Based on product type, vacuum hose accounted for significant silicone hose market share which is attributed owing to its increasing use in various end use industries such aerospace, automotive, chemical, food and beverages, pharmaceutical, and others. Based on application, pharmaceutical accounted for a major silicone hose market share owing to its unique physical and chemical properties and increasing manufacturing of pharmaceuticals.
REGIONAL ANALYSIS
The report provides a detailed overview of the global silicone hose market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. North America is estimated to account for a significant silicone hose market share globally. The growth in the region attributed to growing aerospace manufacturing and growing food and beverages industry. Asia Pacific is also expected to witness considerable growth with growing automotive industry and increasing foreign direct investment in various industries such as food and beverages, chemical, and others. Europe is also expected to be an attractive market for silicone hose during the forecast period, owing to the presence of pharmaceutical manufacturers and well-established automotive industry.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions and new product launches were found to be the major strategies adopted by the players operating in the global silicone hose market.
IMPACT OF COVID-19
The covid-19 pandemic led to a decline in the progress of many industries across the globe. Shutdown of manufacturing plants and restricted trade across the globe led to supply chain constraints for the manufacturers across the globe. silicone hose market experienced a slump during the pandemic owing to the uncertainty in the automotive, food and beverages, and others. This subsequently hampered the manufacturing, delivery schedules, and sales of various goods. According to the US International Trade Commission (USITC), the automotive industry was highly vulnerable during pandemic, and vehicle sales in the US decreased by 15% from 2019 to 2020. However, the demand for silicone hose increased in pharmaceutical industry. The pandemic resulted in increased research and development and manufacturing of vaccines surging the demand from pharmaceutical industry. Despite these ill effects of end-use industries, the silicone hose market began reviving in late 2020 due to significant measures taken by governments, e.g., well-coordinated vaccination drives. This is expected to provide the impetus for the resurgence of the silicone hose market in the coming year.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the silicone hose market include, Cole-Parmer Instrument Company, LLC, Indee Industries Pvt Ltd, NewAge Industries Inc, PARKER HANNIFIN CORP, Saint-Gobain Performance Plastics, Suresh Enterprise, TBL Performance Plastics, Trelleborg Group, Tubes International, Venair Ibérica SAU, Ami Polymer Pvt Ltd, Nordson Corporation, Eaton, ContiTech AG, NORRES, Shore Auto Rubber Export Pvt Ltd., ChinaSiliconeHose, Western Polyrub India Private Limited, Sunrise Silicone Hose Co., Limited, and K. G. N. Hydraulic, among others.