The global silicone market size is expected to reach US$ 28.4 billion by 2030 from US$ 16.5 billion in 2020 and is expected to grow at an impressive double-digit rate of 7.2% from 2021 to 2030.
The study includes drivers and restraints of this market. The study provides an analysis of the global silicone Market for the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2020 is considered as the base year.
Silicone is high performance polymer materials made up of siloxane. It possesses many beneficial properties such as low chemical reactivity, low toxicity, low thermal conductivity, and thermal stability, water repelling forming watertight seals, microbiological growth resistance, resistance to oxygen, adheres very well with glass, ozone, and ultraviolet light, electrical insulation properties, and high gas permeability. The silicone owing to such beneficial features finds its utility in diverse applications such as construction, automotive, personal care, aerospace, health care, coatings, electronics and many others.
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Crucial factors accountable for market growth are:
- Extensive use of silicone polymer for manufacturing lightweight materials for the automobile and aerospace industry.
- The surge in demand for Silicone polymers used as sealants and adhesives in the construction sector provides longevity to the construction work.
- Silicone polymers possess various beneficial properties that find its utility in diverse sectors such as automotive, personal care, healthcare and many others.
- Nontoxic nature of silicone rubber that facilitates its utility in the food industry.
Scope of the Silicone Market Report
| Report Highlights | Details |
| Market Size | USD 28.4 Billion by 2030 |
| Growth Rate | CAGR of 7.2% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Application |
| Regional Scope | North America, APAC, Europe, Latin America, MEAN, Rest of the World |
| Companies Mentioned | Shin-Etsu Chemical Co. Ltd., Wacker Chemie AG, Evonik Industries AG, Elkay Chemicals Pvt. Ltd., Supreme Silicones, Dow Inc., KCC Corporation, Elkem ASA, Silchem Inc., Specialty Silicone Products Inc. |
Report Highlights
- Based on end-use, the industrial sector hit 25.5% revenue share in 2020 and witnessing highest CAGR during the forecast period.
- The use of silicone elastomers in the manufacturing of the automobiles is expected to boost the growth of the silicone market.
- By Geography, Asia Pacific region is estimated to contribute the largest revenue share 45% in 2020 because of the presence of significant number of silicone market players, availability of raw materials and cheap labor.
- The adhesive and sealant property offered by the silicone facilitates its utility in the construction sector.
- Europe is expected to hit 3.5% CAGR in the upcoming years.
- Based on product, the elastomers segment is accounting for the largest revenue share of 42% in 2020.
Market Dynamics
Driver
The silicone polymers are versatile in nature and hence find their utility in wide range of industries. They possess unique properties such as low chemical reactivity, low toxicity, low thermal conductivity, thermal stability, water repelling forming watertight seals, microbiological growth resistance, resistance to oxygen, adheres very well with glass, ozone, transparency, radiation resistance, hydrophobicity and many others that facilitates their use in diverse applications. In the automobile sector, the HTV silicone elastomers are used in the manufacture of electric vehicles. Also, in the construction industry the silicone because of its adhesive and sealant property is abundantly used. All these factors are expected to drive the growth of the silicone market.
Restraint
The major restraining factor that will hinder the growth of the silicone market is the presence of strict Government regulation in the use silicone in certain end use industries such as personal care, consumer products, medical and healthcare.
Opportunity
The use of silicone polymer in the health care industry will find huge opportunities during the forecast period owing to its non-toxic and biocompatible properties. Also, the rapid innovation of new products using the silicon polymers will have huge opportunities inmany end use applications.
Challenges
The continuous fluctuation in the prices of raw material such as methyl chloride and silicon metal used in the manufacture of silicone polymers will be a major challenge faced by the silicone producers in the market.
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Recent Developments
- On 18th August 2021 Wacker Chemie AG and Finsterwalder Corporate Group announced that they are planning to build a 35,000 m2 logistics center in Saxony, eastern Germany that will used for storing and shipping silicone products.
- On 22nd September 2021 Evonik a specialty chemicals company and the Swiss plastics specialist Samaplast have announced that they are developing an osteoconductive PEEK biomaterial for injection molding using high performance silicone polymers.
- On 25th August 2021 Elkem Silicones organized a conference in Schaumburg to brings together Industry leaders and silicone experts to discuss developments in liquid silicone rubber technology throughout different markets including healthcare, automotive, industrial, electronics, and consumer goods.
The major market player includes Shin-Etsu Chemical Co. Ltd., Wacker Chemie AG, Evonik Industries AG, Elkay Chemicals Pvt. Ltd., Supreme Silicones, Dow Inc., KCC Corporation, Elkem ASA, Silchem Inc., Specialty Silicone Products Inc. and others
Segments Covered in the Report
By Product
- 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
- Electronics
- Transportation
- Construction
- Healthcare
- Personal Care and Consumer goods
- Energy
- Industrial Sector
- Others
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Russia
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Why should you invest in this report?
If you are aiming to enter the global silicone market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for silicone are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Key Questions Answered by the Report:
- What will be the size of the global silicone market in 2030?
- What is the expected CAGR for the silicone market between 2021 and 2030?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global silicone market?
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Silicone Market, By Product
7.1. Silicone Market, by Product Type, 2021-2030
7.1.1. Fluids
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Gels
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Resins
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Elastomers
7.1.4.1. Market Revenue and Forecast (2017-2030)
7.1.5. Others
7.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Silicone Market, By Application
8.1. Silicone Market, by Application, 2021-2030
8.1.1. Electronics
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Transportation
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Construction
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Healthcare
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Personal Care and Consumer goods
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Energy
8.1.6.1. Market Revenue and Forecast (2017-2030)
8.1.7. Industrial Sector
8.1.7.1. Market Revenue and Forecast (2017-2030)
8.1.8. Others
8.1.8.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Silicone Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10. Company Profiles
10.1. Shin-Etsu Chemical Co. Ltd.
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Wacker Chemie AG
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Evonik Industries AG
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Elkay Chemicals Pvt. Ltd.
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Supreme Silicones
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Dow Inc.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. KCC Corporation
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Elkem ASA
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Silchem Inc.
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Specialty Silicone Products Inc
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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