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

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.