Silicone Global Market To Reach Value Of About $136 Billion In 2025

11 Oct, 2021

The silicone market consists of sales of silicone and related services for usage in the manufacturing of lubricants and synthetic rubber. They are characterized by thermal stability, hydrophobic nature and physiological inertness. Silicone (except resins) are widely used in the medical industry to manufacture surgical implants and dental impression materials.

Global Silicone (Except Resins) Market Size And Drivers:

The global silicone market is expected to grow from $102.38 billion in 2020 to $117.47 billion in 2021 at a compound annual growth rate (CAGR) of 14.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $135.83 billion in 2025 at a CAGR of 4%. Rising demand of silicone in different industries is expected to propel the silicone market.

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Trends In The Global Silicone (Except Resins) Market

The increasing demand for green chemicals is driving the growth of the silicone market. The increasing stress on the use of environmentally friendly materials is positively affecting the silicone market. Silicone products are regarded as environmental friendly and durable than that of the plastic products. For instance, in 2019, as per The Canadian Health Department reports on its website, stated that there are no health risks associated with the use of silicon cookware instead of plastic cookware.

Global Silicone (Except Resins) Market Segments:
The global silicones market is further segmented –
By Product Type: Elastomers, Fluids, Gels, Others
By Application: Construction, Transportation, Electrical & Electronics, Textiles, Personal Care & Pharmaceuticals, Others
By End-User: Industrial, Electronics, Machinery, Aerospace, Medical
By Geography: The global silicone market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Silicone (Except Resins) Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides silicone (except resins) market overviews, analyzes and forecasts market size and growth for the global silicone (except resins) market, silicone (except resins) market share, silicone (except resins) market players, silicone (except resins) market segments and geographies, silicone (except resins) market’s leading competitors’ revenues, profiles and market shares. The silicone (except resins) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.