Silicone Market by Type (Elastomers, Fluids, Resins, Gels, and Others), End-Use Industry (Building & Construction, Transportation, Personal Care & Consumer Products, Healthcare, Electronics, Energy, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026422 | Pages: 100 | Industry: Chemicals and Materials | Date: Sep 2022 | Type: Global

The market crossed US$ 18.0 billion mark in 2022 and is expected to hit US$ 30.5 billion by 2030, recording a CAGR of approximately 7.0% during the forecast period.

 

High adoption by automotive manufacturers is driving the silicone market

Silicones have many characteristics, including heat resistance, cold resistance, weatherability, water repellency, defoaming properties, adhesiveness, releasability and dielectric properties. In the rapidly developing automobile industry, silicone is used to improve safety and reliability. It is used for sealing and bonding of engine parts, onboard electronics, encapsulation, potting and insulation of electrical parts. Silicone sheets make gaskets for automotive engines, and silicone rubber is an airbag sealant. Automotive silicones assist in reducing vehicular weight, reducing greenhouse emissions and improving fuel efficiency. Silicone can be manufactured in many forms, including solids, liquids, greases, semi-viscous pastes, oils and rubber.

Within the report, the market is segmented into type, end-use industry, and geography. By type, the market is further segmented into elastomers, fluids, resins, gels, and others. Based on the end-use industry, the market is divided into building & construction, transportation, personal care & consumer products, healthcare, electronics, energy, and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

 

 

Rising demand for silicone in the aerospace and defense sector

Silicone is a high-performance polymer that comprises siloxanes. It is produced by hydrolysis of dimethyldichlorosilane. Silicone contains various properties, such as low chemical reactivity, low thermal conductivity, low toxicity, and thermal stability. It can be made to be electrically conductive or insulative, thus making it suitable for electrical application. It is water repellent in nature and resistant to ozone, oxygen, and UV rays leading it to wide usage in the construction and automotive industries. Additionally, it contains antimicrobial and biocompatible properties.

 

Rising adoption in various industries is one of the major factors accelerating market growth

Silicone imparts several benefits to the products in which they are used, including enhanced flexibility and moisture, cold, heat, and UV radiation resistance. Silicone is used in sealants, medicinal applications, adhesives, lubricants, cookware, and insulating materials because it is heat resistant and has rubber-like properties. The growing applications of silicone across the automotive & aerospace, building & construction, healthcare, and electronics & semiconductor industries are projected to drive the growth of the silicone market in the coming years. Silicone is widely employed as a surfactant and emulsifier in personal care products. The rising demand for silicone in the personal care industry is also driving the growth of the silicone market.

 

Recent strategic developments in the silicone market

The silicone market has undergone several significant developments, and a few of these have been mentioned below:

  • In September 2021, BRB launched silicone antifoam Akasil ADP 300. Akasil ADP 300 is a low-viscosity silicone antifoam compound with an active content of 100%.
  • In December 2021, Dow launched Luxsense silicone synthetic leather. This silicone-based synthetic leather material was launched to meet specifications in transportation seating and interiors, furniture, fashion, wearable devices and consumer electronics with unique features
  • In November 2021, Cosmo Specialty Chemicals launched Hydrophilic Block Silicone Emulsions for the textile industry.

 

The silicone market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Wacker Chemie AG, The Dow Chemical Company, Shin-Etsu Chemical Co., Ltd., Silchem Inc., and KCC Silicone Corporation are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Silicone -related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of silicone
  • Research institutes, organizations, and consulting companies
  • Automotive Industry
  • Building and Construction Related Associations

 

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Elastomers
    • Fluids
    • Resins
    • Gels
    • Others
  • End-Use Industry:
    • Building & Construction
    • Transportation
    • Personal Care & Consumer Products
    • Healthcare
    • Electronics
    • Energy
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Wacker Chemie AG
    • The Dow Chemical Company
    • Shin-Etsu Chemical Co., Ltd.   
    • Silchem INC.  
    • KCC Silicone Corporation    

Companies profiled
- Wacker Chemie AG
- The Dow Chemical Company
- Shin-Etsu Chemical Co., Ltd.
- Silchem INC.
- KCC Silicone Corporation





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