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Silicones Market

Global Silicones Market Size, Share, Trends, Growth, Report: By Type: Elastomers, Fluids, Gels, Resins; By Application: Industrial Process, Construction Materials, Home and Personal Care, Transportation, Energy, Healthcare, Electronics, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Silicones Market Outlook

The global silicones market size reached a production volume of more than 2.52 million metric tons in 2023. The market is estimated to reach a volume of over 4 million metric tons by 2032, registering a CAGR of nearly 5% during 2024-2032.

 

Key Takeaways

  • There is an increasing trend towards silicone recycling and the development of bio-based silicones.
  • The rise of electric vehicles contributes to the demand for silicone-based materials for batteries and components.
  • Asia Pacific is the fastest-growing region in the market due to rapid industrialisation and a growing middle class.

 

Silicones, also known as polysiloxanes, are modern-class synthetic polymers having a silicon-oxygen backbone. Due to their molecular structure, these oligomers can take a wide variety of physical forms which can range from semi-viscous pastes, greases and oils to water-thin liquids and solids. Silicones maintain their physical properties over a broad temperature range, making them suitable for applications subjected to extreme heat or cold.

 

Products manufactured with silicones are aesthetically pleasing, longer lasting, and easy to use, and on account of these numerous beneficial properties, silicones are widely used in industrial processes, cosmetic products, construction, transportation, among others. The growth in the home and personal care sector, as well as the automotive sector in the Asia-Pacific and Latin American regions, has driven the demand for silicone fluids, elastomers, and resins.

 

Silicones Market

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Key Trends and Developments

Increasing demand in healthcare; innovation in construction uses; advances in personal care formulations; and sustainability and environmental concerns are the major trends impacting the silicones market expansion

 

Date Company Event
Jun 2023 General Silicones (GS) Unveiled the latest use for their Compo-SiL® technology: substituting conventional PVC vinyl wallpapers with Compo-SiL® silicone materials for interior construction.
Nov 2023 Dow and Circusil Unveiled plans to build their inaugural large-scale silicone recycling facility in North America which aims to repurpose silicone waste generated by Dow’s operations and their clients.
Feb 2024 Trelleborg Group Trelleborg Group, via its Trelleborg Sealing Solutions division, entered into a deal to purchase Baron Group, a leading company based in Australia and China that produces sophisticated precision components made of silicone.
Feb 2024 Kerecis Introduced Shield Standard, a product which features a combination of a fish skin graft and a silicone backing, designed for the effective treatment of both acute and chronic wounds.

 

 

Trends Impact
Increasing demand in the healthcare sector The biocompatibility of silicones makes them increasingly valuable in medical applications, from implants and tubing to wearables and drug delivery systems.
Innovations in construction uses The durability, flexibility, and weather resistance of silicones are driving their increased use in the construction sector.
Advances in personal care formulations In the personal care and cosmetics sector, silicones are prized for their sensory properties, contributing to the formulation of products that are smoother, silkier, and more spreadable.
Sustainability and environmental concerns There is a growing trend towards the development of more environmentally friendly silicone products, including recyclable and bio-based silicones.

 

Silicones Market Trends

The trend towards developing more environmentally friendly silicone products is part of a broader movement within the materials science and manufacturing sectors to reduce the environmental footprint of products throughout their lifecycle. Recyclable silicones are being developed to address the challenge of silicone waste. For example, chemical recycling techniques can depolymerise silicones back into their constituent monomers, which can then be purified and reused to manufacture new silicone products. Bio-based silicones represent another innovative approach to making silicone production more sustainable as these silicones are derived from renewable resources, such as plant-based materials, rather than traditional petroleum-based feedstocks, and contribute greatly to the silicones market development.

 

In February 2024, Kerecis unveiled a new product Shield Standard, which features a combination of a fish skin graft and a silicone backing, highlighting an innovative approach in the medical field, specifically in wound care. It represents a cutting-edge approach to wound management, combining natural biomaterials with synthetic components for optimised healing. It also utilises fish skin, a byproduct of the fishing sector, which adds an element of sustainability to medical treatments.

 

Silicones Market By Segments

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Market Segmentation

“Silicones Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Type Elastomers, Fluids, Gels, Resins
Application Industrial Process, Construction Materials, Home and Personal Care, Transportation, Energy, Healthcare, Electronics, Others
Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa

 

Industrial processes account for a major silicones market share as silicones are widely used in the industrial production of various products

Industrial processes dominate the market, accounting for more than one-third of the global demand for silicones. Silicones are widely used as release agents in manufacturing processes. Their non-stick properties ensure easy removal of products from moulds, which is essential in the production of plastics, rubber, and composite materials. They also serve as anti-foaming agents in industrial processes where foam formation is undesirable, such as in the production of paints, coatings, and food products.

 

The home and personal care sector is also responsible for generating a considerable demand for silicones, as silicone fluids are extensively used in various home and personal care products owing to their versatility, biocompatibility, conditioning benefits, low surface tension, and high permeability properties. Silicones are prized for their ability to improve the texture, spreadability, and absorption of skin care products. They provide a silky, smooth feel to lotions and creams and can help form protective barriers on the skin that retain moisture without feeling greasy. In cosmetics, silicones are used in formulations to give makeup products a long-lasting, easy-to-apply, and non-smearing finish.

 

Silicone elastomers maintain their dominance in the silicones market owing to their rising demand from several end-use sectors

Silicone elastomers are experiencing extensive demand from sectors such as electronics, healthcare, and transportation, adding to the overall silicones market growth. Silicone elastomers can withstand extreme temperatures, from very low to very high, without losing their mechanical properties which makes them suitable for applications in environments where temperature fluctuations are common, such as automotive engine parts and aerospace components. They also exhibit excellent resistance to chemicals, including oils, acids, and alkalis, contributing to their longevity and reliability in chemical processing equipment, seals, and gaskets.

 

Meanwhile, silicone fluids are expected to witness a significant growth in the silicones market as they are often used as lubricants, hydraulic fluids, and in cosmetic formulations. Their wide range of viscosities and excellent thermal stability make them suitable for a broad spectrum of applications across end-use sectors, especially in the automotive, manufacturing, and personal care sectors.

 

Silicones Market By Region

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Competitive Landscape

The market players are introducing novel products to stay ahead in the competition, further increasing their collaboration efforts to meet the evolving regulatory landscape

 

Company Founding Year Headquarters Products
Elkem ASA 1904 Oslo, Norway Silicones, silicon, alloys for the foundry sector, carbon, and microsilica
The Dow Chemical Company 1897 Michigan, United States Chemicals, plastics, performance chemicals, catalysts, coatings
Wacker Chemie AG 1914 Munich, Germany Silicone rubbers, polymer products like ethylene vinyl acetate redispersible polymer powders
Shin-Etsu Chemical Co., Ltd 1926 Tokyo, Japan Polyvinyl chloride (PVC), semiconductor silicon, and photomask substrates

 

Silicones Market Analysis by Region

The Asia Pacific holds the largest market share in the global market followed by Europe. Key end-users such as industrial processes, building and construction, personal care and consumer products, transportation and electronics contribute to the growing demand for silicones in the region. The Asia Pacific, home to some of the world's fastest-growing economies like China, India, and several ASEAN countries, has witnessed rapid industrialisation and this economic expansion has led to increased demand for silicones in manufacturing and industrial applications. The region is also a global hub for the electronics sector, with countries like China, South Korea, and Taiwan leading in electronics manufacturing. Silicones are widely used in the electronics sector for their insulating properties and thermal stability and as sealants and adhesives in electronic devices.

 

The Europe silicones market is also expected to witness a sizeable growth. The region’s stringent regulatory standards, particularly those related to environmental protection and consumer safety, play a significant role in shaping the market. There is a strong emphasis on developing and using silicones that are environmentally friendly and comply with regulations such as REACH (Registration, Evaluation, Authorisation, and Restriction of Chemicals) which has led to innovation in silicone products that are more sustainable and have less environmental impact.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Elastomers
  • Fluids
  • Gels
  • Resins
Breakup by Application
  • Industrial Process
  • Construction Materials 
  • Home and Personal Care
  • Transportation
  • Energy
  • Healthcare
  • Electronics
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Elkem ASA
  • The Dow Chemical Company
  • Wacker Chemie AG
  • Shin-Etsu Chemical Co., Ltd.
  • Ferroglobe PLC
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Silicones Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Silicones Historical Market (2018-2023) 
    8.3    Global Silicones Market Forecast (2024-2032)
    8.4    Global Silicones Market by Type
        8.4.1    Elastomers
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
        8.4.2    Fluids
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
        8.4.3    Gels
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2023)
            8.4.3.3    Forecast Trend (2024-2032)
        8.4.4    Resins
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2023)
            8.4.4.3    Forecast Trend (2024-2032)
    8.5    Global Silicones Market by Application
        8.5.1    Industrial Process
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
        8.5.2    Construction Materials
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
        8.5.3    Home and Personal Care
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2023)
            8.5.3.3    Forecast Trend (2024-2032)
        8.5.4    Transportation
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2023)
            8.5.4.3    Forecast Trend (2024-2032)
        8.5.5    Energy
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2018-2023)
            8.5.5.3    Forecast Trend (2024-2032)
        8.5.6    Healthcare
            8.5.6.1    Market Share
            8.5.6.2    Historical Trend (2018-2023)
            8.5.6.3    Forecast Trend (2024-2032)
        8.5.7    Electronics
            8.5.7.1    Market Share
            8.5.7.2    Historical Trend (2018-2023)
            8.5.7.3    Forecast Trend (2024-2032)
        8.5.8    Others
    8.6    Global Silicones Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2023)
        9.5.2    Forecast Trend (2024-2032)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code: 3910)

    12.1    Major Exporting Countries:
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume
13    Price Analysis
    13.1    North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    13.2    Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
    13.3    Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
    13.4    Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    13.5    Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Elkem ASA
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    The Dow Chemical Company
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    Wacker Chemie AG
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    Shin-Etsu Chemical Co., Ltd.
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Ferroglobe PLC
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Others
15    Industry Events and Developments


List of Key Figures and Tables

1.    Global Silicones Market: Key Industry Highlights, 2018 and 2032
2.    Global Silicones Historical Market: Breakup by Type (Million Metric Tons), 2018-2023
3.    Global Silicones Market Forecast: Breakup by Type (Million Metric Tons), 2024-2032
4.    Global Silicones Historical Market: Breakup by Application (Million Metric Tons), 2018-2023
5.    Global Silicones Market Forecast: Breakup by Application (Million Metric Tons), 2024-2032
6.    Global Silicones Historical Market: Breakup by Region (Million Metric Tons), 2018-2023
7.    Global Silicones Market Forecast: Breakup by Region (Million Metric Tons), 2024-2032
8.    North America Silicones Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
9.    North America Silicones Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
10.    Europe Silicones Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
11.    Europe Silicones Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
12.    Asia Pacific Silicones Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
13.    Asia Pacific Silicones Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
14.    Latin America Silicones Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
15.    Latin America Silicones Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
16.    Middle East and Africa Silicones Historical Market: Breakup by Country (Million Metric Tons), 2018-2023
17.    Middle East and Africa Silicones Market Forecast: Breakup by Country (Million Metric Tons), 2024-2032
18.    Major Exporting Countries by Value
19.    Major Importing Countries by Value
20.    Major Exporting Countries by Volume
21.    Major Importing Countries by Volume
22.    North America Historical Price Trends and Forecast 2018-2032
23.    Europe Historical Price Trends and Forecast 2018-2032
24.    Asia Pacific Historical Price Trends and Forecast 2018-2032
25.    Latin America Historical Price Trends and Forecast 2018-2032
26.    Middle East and Africa Historical Price Trends and Forecast 2018-2032
27.    Global Silicones Market Structure

Key Questions Answered in the Report

In 2023, the global silicones market attained a volume of more than 2.52 million metric tons.

The silicones market is projected to grow at a CAGR of 5% between 2024 and 2032.

The major drivers of the market include the extensive demand from end-use sectors, such as electronics, healthcare, and transportation, easy availability of raw materials, relaxed environmental policies, increased demand for silicone fluids and elastomers, and increased application in the industrial processes.

The key trends in the market include the rapid growth in the home and personal care sector and the expanding automotive sector.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Elastomers, fluids, gels, and resins are the different silicone types in the market.

Silicone finds major applications in sectors like industrial process, construction materials, home and personal care, transportation, energy, healthcare, electronics, and others.

The major players in the market are Elkem ASA, The Dow Chemical Company, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd., and Ferroglobe PLC, among others.

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