USD 18.79 billion
Silicone Market Size, Share, Growth Analysis, By Product(Fluids (Straight Silicone Fluids, Modified Silicone Fluids), Gels, Resins), By Application(Elastomeric components, Conditioning agent, Binders, Surfactants), By End User(Electronics, Transportation, Construction, Healthcare), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2405 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
102
|Figures:
76
Silicone Market Insights
Silicone Market size was valued at USD 18.79 billion in 2019 and is poised to grow from USD 19.94 billion in 2023 to USD 32.02 billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).
Silicones are polymers or higher oligomers that can take on a variety of physical forms, ranging from solids to semi-viscous pastes, water-thin liquids, greases, and oils. They exhibit a wide range of special qualities, including the ability to seal, lubricate, bond, release, defoam, and enclose. These are electrically conductive, don't age-relatedly harden, peel, crumble, rot, or become brittle, and may even insulate, waterproof, and coat.
The main factor driving the market growth is silicone's creative and sustainable properties. Along with these factors, the development of antimicrobial silicone elastomers for the healthcare sector and increased demand for silicones in emerging clusters of Asia-Pacific, the Middle East, and Africa are anticipated to fuel the market expansion The market is, however, constrained by expensive initial R&D costs and stringent restrictions, and market expansion will be challenging given the high cost of silicon. Additionally, the market will benefit greatly from the growing demand in the transport industry.
US Silicone Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Industrial Processes
Fastest Growth
Industrial Processes
Growth Rate
6.1% CAGR
Global Silicone Market ($ Bn)
Country Share for North America Region (%)
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Silicone Market Segmental Analysis
Global Silicone market is segmented on the basis of Product, Application, End User, and region. By Product, the market is segmented into Fluids (Straight Silicone Fluids, Modified Silicone Fluids), Gels, Resins, Elastomers (High-Temperature Vulcanized (HTV), Liquid Silicone Rubber (LSR), Room Temperature Vulcanized (RTV), Others (Adhesives, Emulsions). By Application, the market is segmented into Elastomeric components, Conditioning agent, Binders, Surfactants. By End Users, the market is segmented into Electronics, Transportation, Construction, Healthcare, Personal Care & Consumer goods, Energy, Industrial Processes, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Silicone Market Analysis by Product
By representing for more than 41.0% of global revenue in 2021, the elastomers segment dominated the market. A mixture of cross linkers, reinforcing agents, linear polymers, and a catalyst is used to create silicone elastomers, which are silicone-based polymers that have been vulcanized. These elastomers have been divided into three groups based on the processing temperature and the kind of basic straight-chain molecule: High-Temperature Vulcanizing (HTV), Liquid Silicone Rubber (LSR), and Room-Temperature Vulcanization (RTV). RTV silicone rubber is a two-component solution that comes in a variety of hardness from soft to medium. It can be cured at room temperature without heating and can aggressively stick to and release from most surfaces. Excellent dielectric and thermal resistance features are present. In a multitude of EV applications, it serves as a gasket, sealant, and filler between surfaces. In addition to electric vehicles, it is widely employed in the aerospace, energy, consumer electronics, and electronics industries. Silicone gel is a transparent sheet that resembles jelly that is largely used in the personal care sector to lessen obvious immature scars and prevent scarring from recently healed wounds. Additionally, these are used to pot and enclose electronic devices, including solar cells and LEDs.
Silicone Market Analysis by End User
In 2021, the industrial process segment dominated the market with 25.0% of total revenue. Silicones are widely employed in many industrial processes for a variety of purposes, including lubricants, antifoaming agents, paper manufacture, industrial coatings, and paint additives. By providing various components with improved durability, thermal resistance, and resistance to corrosion and chemicals, silicone is utilized in paints and coatings to raise performance and lower maintenance costs for industrial infrastructure and machinery. Construction is the second-largest application segment in terms of revenue, and between 2022 and 2030, it is anticipated to increase at a considerable CAGR.
Global Silicone Market By End User
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Silicone Market Regional Insights
North America dominated the global market as a result of the region's expanding use of silicone in a variety of sectors including transportation, building, industrial processes, personal care, consumer goods, and energy. Due to its strong demand in the manufacturing of chemicals, paints and coatings, food and drinks, and composites. A strong demand from the healthcare sector and a number of significant regional manufacturers also contribute to the region's high growth potential for medical-grade silicones.
The silicone market in Asia Pacific has grown to be the largest one and is anticipated to expand at a CAGR of 5% during the forecast period. The region's high market share may be attributable to the large number of well-known, medium-sized, and small-sized market players. Due to the acceleration of price increase, the region is anticipated to have the fastest growth. The production of lower-value items would move to Southeast Asian nations and India as China produces more high-value goods. The main markets are anticipated to be those related to personal care, electronics, building, and transportation.
Global Silicone Market By Region
- Largest
- Fastest
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Silicone Market Dynamics
Silicone Market Drivers
Growing Construction Activities are Pushing Silicone Demand
- As it is weather-resistant, extremely stable, inert, and highly water-repellent, silicone is widely used in the construction industry. Both in residential and commercial structures, it is used with a variety of materials, including marble, glass, concrete, aluminum, steel, and polymers. Additionally, they are used in the construction of industrial buildings, bridges, pipelines, oil rigs, and highways. Global demand for infrastructure development and construction has increased as a result of rapid urbanization, rising population, and rapid industrial growth.
Growing Demand from a Variety of End-Use Industries
- Due to the expanding application potential across numerous end-use industries, the silicone market is anticipated to expand. It is used in the electronics industry for a variety of purposes, including shielding insulators from salt air damage, moisture proofing circuit boards, modifying semiconductor encapsulating materials, shielding the ends of heating element wires in printed circuit boards (PCBs), semiconductors, electronic control units (ECUs), LED devices, and other applications.
Silicone Market Restraints
Strong Silicone Regulatory Requirements
- There are no restrictions on silicone materials in industrial applications. The usage of a few silicone products in the medical and healthcare sectors is nevertheless controlled by governmental organizations, including the European Chemicals Agency (E) and the UK Competent Authorities. In that document, it was stated that the usage of two silicone products, cyclosilicates D4 and D5, was limited to the personal care business and that the concentration of these substances was limited to 0.1% by weight in personal care goods. Restrictions have also been imposed in the US and Canada. As a result, market growth will be constrained.
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Silicone Market Competitive Landscape
The silicone market's competitive landscape contains information about each player. Included information includes a business overview, financials, revenue generated, market potential, investments in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launches, product breadth and depth, and application dominance. Only the companies' concentration on the silicone market is referenced in the aforementioned data points.
Silicone Market Top Player’s Company Profiles
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Wacker Chemie AG
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Momentive Performance Materials Inc.
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Evonik Industries AG
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Bluestar Silicones
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KCC Corporation
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Saint-Gobain S.A.
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NuSil Technology LLC
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The 3M Company
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Rogers Corporation
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Reiss Manufacturing Inc.
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Siltech Corporation
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Quantum Silicones LLC
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Siltech Industries Inc.
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Mesgo S.p.A.
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Dongyue Group Limited
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Jiangsu Hongda New Material Co. Ltd.
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Guangdong Polysil Technology Co. Ltd.
Silicone Market Recent Developments
- In October 2022, Elkem ASA made an announcement about the opening of their brand-new, specialized facility. High-purity medical silicone materials will be made available by the new facility, which is 18,000 square feet in size, to meet the needs of the MedTech and Pharmaceutical industries.
- In April 2022, A novel line of silicone rubber sheets with a thermal interface was created by Shin-Etsu Chemical Co., Ltd. for use in electric car parts (EV). These silicone thermal interface materials can be employed as heat dissipation methods for electric car component parts with rising high voltage needs.
Silicone Key Market Trends
- Silicones are frequently found in cosmetic and personal care items such lotions, shampoos, foundations, eyeshadows, and blushes. This is one of the main drivers of market growth, especially in light of people's growing attention to their physical appearance. It can also be linked to product advantages including extending product life and shielding skin from environmental harm and chemical exposure by building a barrier on the skin. In addition, the construction industry's increasing use of silicone sealants to increase the flexibility of building structures is boosting the market. Furthermore, these are frequently utilized in the production of electronic components, including keyboards, mobile phones, televisions (TV), led lights, and tablets, due to their outstanding dielectric qualities and great thermal stability. The market is being driven by this along with the rising sales of consumer gadgets. The demand for silicones is also being fueled by the increasing popularity of solar panels and equipment since they are less expensive and improve performance, durability, and efficiency. A bright picture for the market is also being created by the rising prevalence of chronic disorders like osteoporosis, cardiovascular disease, and Alzheimer's.
Silicone Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to global silicone market growth analysis, the market growth is due to the increasing demand for silicone-based goods across a wide range of industries. The requirement for these products as raw materials in numerous industries is the main driver of the market expansion. Some include the aerospace, building, health care, and personal care industries. However, it is anticipated that growth would be extremely strong during the forecast period due to the increased demand for these products.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 18.79 billion |
| Market size value in 2031 | USD 32.02 billion |
| Growth Rate | 6.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Silicone Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Silicone Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Silicone Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Silicone Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Silicone Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Silicone Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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