Silicone Market Report 2023

Silicone Global Market Report 2023 – By Product Type (Elastomers, Fluids, Gels, Other Product Types), By Application (Construction, Transportation, Electrical and Electronics, Textiles, Personal Care and Pharmaceuticals, Other Applications), By End Userr (Industrial, Electronics, Machinery, Aerospace, Medical) – Market Size, Trends, And Global Forecast 2023-2032

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Silicone refers to a polymer produced from siloxane and used in the manufacturing of lubricants and synthetic rubber. They are characterized by their thermal stability, hydrophobic nature, and physiological inertness. Silicone (except resins) is widely used in the medical industry to manufacture surgical implants and dental impression materials.

The main product types of silicone are elastomers, fluids, gels, and other products. Elastomers are polymers that have viscosity and elasticity and therefore are known as viscoelasticity. The silicone products are applied in construction, transportation, electrical and electronics, textiles, personal care and pharmaceuticals, and other applications that are used by industrial, electronics, machinery, aerospace, and medical sectors.

The global silicone market is segmented -

1) By Product Type: Elastomers, Fluids, Gels, Other Product Types

2) By Application: Construction, Transportation, Electrical & Electronics, Textiles, Personal Care & Pharmaceuticals, Other Applications

3) By End Userr: Industrial, Electronics, Machinery, Aerospace, Medical

The global silicone market size will grow from $18.31 billion in 2022 to $20.75 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global silicone is expected to grow from $38.18 billion in 2027 at a CAGR of 16.5%.

Rising demand for silicone in different industries is expected to propel the silicone market. Silicone materials are being extensively used in industries such as construction, transportation, electrical & electronics, textiles, personal care, and pharmaceuticals. Silicone materials such as silicone sealants, adhesives, and coatings have major applications in construction. Also, in the electronics sector, silicon is used to provide high thermal stability and resistance to weathering, ozone, moisture, and UV radiation in electronic products.

Major players in the silicone market are Wacker-Chemie GmbH, CSL Silicones, Specialty Silicone Products Incorporated, Evonik Industries AG, Kaneka Corporation, Dow Corning Corporation, Momentive, Elkem ASA, and Gelest Inc.

Rising prices of raw materials, adding to the manufacturing costs, are expected to restrain the growth of the silicone market. The low availability of raw silicone resulting from the shutting down of the manufacturing facilities is considered to be an important factor affecting the prices of silicone materials. The shutdown of silicone production facilities in Germany, the USA, and China due to different environmental factors and government sustainability policies has disrupted the supply of silicone in recent years. This has increased pressure on the manufacturers to raise the prices of silicone materials. For instance, companies such as Wacker Chemie AG, Elkem Silicones, Shin-Etsu Chemical Co., and Momentive Performance Materials Inc. increased silicone elastomer prices by 10% to 30% due to an increase in raw material and energy costs. Therefore, fluctuations in the prices of raw materials are expected to hamper the silicone market growth.

The increasing demand for green chemicals is driving the growth of the silicone market. The silicone market is positively affected by the increasing stress on the use of environmentally friendly materials. Silicone products are regarded as environmentally friendly and more durable than plastic products. For instance, in May 2020, SK Global Chemical, a Korean chemicals company announced that it will produce 70% of its products green by 2025 from 20% of its green products currently. Thus, the increasing demand for green chemicals will drive the growth of the silicone market.

In October 2021, Rogers Corporation, a US-based specialty engineered materials company acquired Silicone Engineering Ltd for an undisclosed sum. The acquisition enhances the existing advanced silicones platform of Rogers and enables it to offer advanced solutions to its customers with European Center of Excellence. Silicone Engineering Ltd is a UK-based producer of silicone material solutions.

Asia-Pacific was the largest region in the silicone market. North America was the second-largest region in the silicone market report. The regions covered in the silicone analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the silicone market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.

The market consists of the sales of emulsion, oil, caulk, grease, resin, foam, and solid silicones. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The silicone market research report is one of a series of new reports from The Business Research Company that provides silicone market statistics, including silicone industry global market size, regional shares, competitors with a silicone market share, detailed silicone segments, market trends and opportunities, and any further data you may need to thrive in the silicone industry. This silicone market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

    Table Of Contents

    1. Executive Summary

    2. Silicone market Characteristics

    3. Silicone Market – Macro Economic Scenario

    3.1 COVID-19 Impact On Silicone Market

    3.2 Ukraine-Russia War Impact On Silicone Market

    3.3 Impact Of High Inflation On Silicone Market

    4. Silicone market Size And Growth

    4.1. Global Silicone Historic Market, 2017 - 2022, $ Billion

    4.1.1. Drivers Of The Market

    4.1.2. Restraints On The Market

    4.2. Global Silicone Forecast Market, 2022- 2027F, 2032F, $ Billion

    4.2.1. Drivers Of The Market

    4.2.2. Restraints On the Market

    5. Silicone market Segmentation

    5.1. Global Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    Elastomers

    Fluids

    Gels

    Other Product Types

    5.2. Global Silicone market, Segmentation By Application, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    Construction

    Transportation

    Electrical & Electronics

    Textiles

    Personal Care & Pharmaceuticals

    Other Applications

    5.3. Global Silicone market, Segmentation By End Userr, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    Industrial

    Electronics

    Machinery

    Aerospace

    Medical

    6. Silicone market Regional And Country Analysis

    6.1. Global Silicone market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    6.2. Global Silicone market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    7. Asia-Pacific Silicone market

    7.1. Asia-Pacific Silicone market Overview

    7.2. Asia-Pacific Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    8. China Silicone market

    8.1. China Silicone market Overview

    8.2. China Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F,$ Billion

    9. India Silicone market

    9.1. India Silicone market Overview

    9.2. India Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    10. Japan Silicone market

    10.1. Japan Silicone market Overview

    10.2. Japan Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    11. Australia Silicone market

    11.1. Australia Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    12. Indonesia Silicone market

    12.1. Indonesia Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    13. South Korea Silicone market

    13.1. South Korea Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    14. Western Europe Silicone market

    14.1. Western Europe Silicone market Overview

    14.2. Western Europe Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    15. UK Silicone market

    15.1. UK Silicone market Overview

    15.2. UK Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    16. Germany Silicone market

    16.1. Germany Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    17. France Silicone market

    17.3. France Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    18. Eastern Europe Silicone market

    18.1. Eastern Europe Silicone market Overview

    18.2. Eastern Europe Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    19. Russia Silicone market

    19.1. Russia Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    20. North America Silicone market

    20.1. North America Silicone market Overview

    20.2. North America Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    21. USA Silicone market

    21.1. USA Silicone market Overview

    21.2. USA Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    22. South America Silicone market

    22.1. South America Silicone market Overview

    22.2. South America Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    23. Brazil Silicone market

    23.1. Brazil Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    24. Middle East Silicone market

    24.1. Middle East Silicone market Overview

    24.2. Middle East Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    26. Africa Silicone market

    26.1. Africa Silicone market Overview

    26.2. Africa Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    26. Silicone market Competitive Landscape And Company Profiles

    26.1. Silicone market Competitive Landscape

    26.2. Silicone market Company Profiles

    26.2.1. Wacker-Chemie GmbH

    26.2.1.1. Overview

    26.2.1.2. Products and Services

    26.2.1.3. Strategy

    26.2.1.4. Financial Performance

    26.2.2. CSL Silicones

    26.2.2.1. Overview

    26.2.2.2. Products and Services

    26.2.2.3. Strategy

    26.2.2.4. Financial Performance

    26.2.3. Specialty Silicone Products Incorporated

    26.2.3.1. Overview

    26.2.3.2. Products and Services

    26.2.3.3. Strategy

    26.2.3.4. Financial Performance

    26.2.4. Evonik Industries AG

    26.2.4.1. Overview

    26.2.4.2. Products and Services

    26.2.4.3. Strategy

    26.2.4.4. Financial Performance

    26.2.5. Kaneka Corporation

    26.2.5.1. Overview

    26.2.5.2. Products and Services

    26.2.5.3. Strategy

    26.2.5.4. Financial Performance

    27. Key Mergers And Acquisitions In The Silicone market

    28. Silicone market Trends And Strategies

    29. Silicone market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2017-2022, 2027F, 2032F, $ Billion
  • Table 3: Global Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 4: Global Silicone market, Segmentation By Application, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 5: Global Silicone market, Segmentation By End Userr, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 6: Global Silicone market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 7: Global Silicone market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 8: Asia-Pacific, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 9: China, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 10: India, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 11: Japan, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 12: Australia, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 13: Indonesia, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 14: South Korea, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 15: Western Europe, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 16: UK, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 17: Germany, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 18: France, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 19: Eastern Europe, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 20: Russia, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 21: North America, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 22: USA, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 23: South America, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 24: Brazil, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 25: Middle East, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 26: Africa, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 27: Wacker-Chemie GmbH Financial Performance
  • Table 28: CSL Silicones Financial Performance
  • Table 29: Specialty Silicone Products Incorporated Financial Performance
  • Table 30: Evonik Industries AG Financial Performance
  • Table 31: Kaneka Corporation Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 3: Global Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 4: Global Silicone market, Segmentation By Application, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 5: Global Silicone market, Segmentation By End Userr, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 6: Global Silicone market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 7: Global Silicone market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 8: Asia-Pacific, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 9: China, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 10: India, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 11: Japan, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 12: Australia, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 13: Indonesia, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 14: South Korea, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 15: Western Europe, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 16: UK, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 17: Germany, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 18: France, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 19: Eastern Europe, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 20: Russia, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 21: North America, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 22: USA, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 23: South America, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 24: Brazil, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 25: Middle East, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 26: Africa, Silicone market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 27: Wacker-Chemie GmbH Financial Performance
  • Figure 28: CSL Silicones Financial Performance
  • Figure 29: Specialty Silicone Products Incorporated Financial Performance
  • Figure 30: Evonik Industries AG Financial Performance
  • Figure 31: Kaneka Corporation Financial Performance
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