Innovation in Silicone Industry by a Developing Country In Case of Iran

Abstract

Today's challenging and competitive world, forces companies to come up with innovation. In recent decades also, few brand-new industries emerged which brought profound changes to human life and created potential opportunities for companies. One of these industries is silicone industry. Silicone industry has grown extraordinarily in recent decades in developed countries and on the other hand, customers have become more knowledgeable, sophisticated, and attentive than ever. As a result, the demand for healthier and safer products has boosted accordingly. The main question here is if less developed countries access to enough advanced silicone production technology like the other developed countries or they still have a long way to gain enough knowledge and technology and how they can come up with innovation. The main purpose of this paper is to investigate Silicone industry in developing countries, exclusively Iran, and how they can reach advanced technology and to find out available opportunities in this industry and how to utilize these opportunities by the help of innovation. Silicone material is being used in developed countries for almost a century. Unique and amazing specification's of innovative silicone material improved and influenced human's life from different aspects. But this industry is quite new in many developing countries, including Iran due to lack of advanced technology, knowledge, expertise, and etc. Considering all the above mentioned points, there are a plenty of potential opportunities in this industry which can be exploited by innovation.