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Silicone Market: By Type, By End-Use Industry ) and Region Forecast 2019-2030
Silicone Market: By Type, By End-Use Industry ) and Region Forecast 2019-2030
Silicone Market size was valued at US$ 19,852.6 million in 2023 and is poised to grow at a CAGR of 6.4% from 2024-2030. The global market is a highly diversified and rapidly growing industry that encompasses various products such as silicone elastomers, silicone fluids, silicone resins, and silicone gels. These products are used in a wide range of applications in industries such as automotive, construction, electronics, healthcare, and personal care. Silicone elastomers are rubber-like materials that are highly resistant to temperature and weathering. They find extensive use in applications such as gaskets, seals, and electrical insulators.
Silicone elastomers are also widely used in the automotive industry, where they are used in components such as engine gaskets and seals. Silicone fluids are highly stable and resistant to heat and cold, making them ideal for use in high-temperature applications such as engine oils, hydraulic fluids, and lubricants. They are also used in a wide range of other applications such as coatings, personal care products, and industrial processing. Silicone resins are used in a wide range of applications, including coatings, adhesives, and electrical insulation. They are also used as binders in composites and in the production of high-performance paints and coatings.
Silicone gels are highly versatile and find use in applications such as adhesives, sealants, and personal care products. They are also used as fillers in medical implants, as they are highly biocompatible and have a low risk of allergic reactions. By Type, Elastomers are the largest segment of the market recording a valuation of US$ 6,226.4 million in 2021. Silicone elastomers are a type of rubber-like material that is known for its excellent resistance to temperature, weathering, and compression set. They are used in a wide range of applications such as gaskets, seals, and electrical insulation, and are particularly well-suited for high-temperature environments.
Silicone elastomers are also widely used in the automotive industry, where they are used in components such as engine gaskets and seals. Additionally, they are used in the aerospace industry for sealing and vibration-dampening applications. Silicone elastomers offer superior performance and durability compared to other elastomers, making them an ideal choice for many industrial applications. By End-Use Industry, Industrial Processes account for US$ 4,191.9 Million in 2021. Silicone is widely used in industrial processes due to its unique properties such as high-temperature resistance, low chemical reactivity, and flexibility. It is used in applications such as coatings, adhesives, and sealants, and is also used as a lubricant and release agent in manufacturing processes. Silicone's ability to withstand harsh environments and extreme temperatures makes it a versatile and reliable material in industrial applications.
Study Period
2024-2030Base Year
2023CAGR
6.4%Largest Market
Asia PacificFastest Growing Market
Asia Pacific
The global silicone market is being driven by factors such as increasing demand for silicone products in emerging markets, rising demand for silicone-based materials in the automotive and construction industries, and increasing awareness of the benefits of silicone-based products in the healthcare and personal care industries. However, the market is also facing challenges such as fluctuating raw material prices, intense competition from other materials, and increasing regulatory scrutiny.
Asia-Pacific is the most revenue-generating region in the Silicone market. This region recorded earnings of USD 6,850.84 million followed by Europe and North America. The regional distribution of the market is diverse and varies depending on the product type and application. Asia-Pacific is the largest and fastest-growing market for silicone products, driven by factors such as rapid industrialization, increasing population, and rising standards of living. Europe and North America are also significant markets for silicone products, driven by factors such as a high level of technological development and strong demand from the healthcare and personal care industries. Latin America and the Middle East and Africa are also growing markets for silicone products, driven by increasing demand from the construction and automotive industries. Overall, the market is a truly global industry with diverse regional distributions and applications.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 19,852.6 million |
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Market CAGR |
6.4% |
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By Type |
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By End User |
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By Region |
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The global silicone market size was valued at US$ 19,852.6 million in 2023 and is poised to grow at a CAGR of 6.4% from 2024–2030
Reiss Manufacturing, Rogers Corporation, CSL, Silicones, KCC Corporation, Innospec Inc., Specialty Silicone Products
Asia Pacific is the fastest-growing region for silicone market
| 1. Executive Summary |
| 2. Global Silicone Market Introduction |
| 2.1.Global Silicone Market - Taxonomy |
| 2.2.Global Silicone Market - Definitions |
| 2.2.1.Type |
| 2.2.2.End User |
| 2.2.3.Region |
| 3. Global Silicone Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Silicone Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Silicone Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Elastomers |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Fluids |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Resins |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Gels |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Others |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6. Global Silicone Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Industrial Process |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Building & Construction |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Transportation |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Personal care & Consumer Products |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Medical & Healthcare |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Electronics |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Energy |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 6.8. Others |
| 6.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.8.3. Market Opportunity Analysis |
| 7. Global Silicone Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8. North America Silicone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Elastomers |
| 8.1.2.Fluids |
| 8.1.3.Resins |
| 8.1.4.Gels |
| 8.1.5.Others |
| 8.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Industrial Process |
| 8.2.2.Building & Construction |
| 8.2.3.Transportation |
| 8.2.4.Personal care & Consumer Products |
| 8.2.5.Medical & Healthcare |
| 8.2.6.Electronics |
| 8.2.7.Energy |
| 8.2.8.Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9. Europe Silicone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Elastomers |
| 9.1.2.Fluids |
| 9.1.3.Resins |
| 9.1.4.Gels |
| 9.1.5.Others |
| 9.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Industrial Process |
| 9.2.2.Building & Construction |
| 9.2.3.Transportation |
| 9.2.4.Personal care & Consumer Products |
| 9.2.5.Medical & Healthcare |
| 9.2.6.Electronics |
| 9.2.7.Energy |
| 9.2.8.Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 9.3.6.Rest of EU |
| 10. Asia Pacific (APAC) Silicone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Elastomers |
| 10.1.2.Fluids |
| 10.1.3.Resins |
| 10.1.4.Gels |
| 10.1.5.Others |
| 10.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Industrial Process |
| 10.2.2.Building & Construction |
| 10.2.3.Transportation |
| 10.2.4.Personal care & Consumer Products |
| 10.2.5.Medical & Healthcare |
| 10.2.6.Electronics |
| 10.2.7.Energy |
| 10.2.8.Others |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11. Middle East and Africa (MEA) Silicone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Elastomers |
| 11.1.2.Fluids |
| 11.1.3.Resins |
| 11.1.4.Gels |
| 11.1.5.Others |
| 11.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Industrial Process |
| 11.2.2.Building & Construction |
| 11.2.3.Transportation |
| 11.2.4.Personal care & Consumer Products |
| 11.2.5.Medical & Healthcare |
| 11.2.6.Electronics |
| 11.2.7.Energy |
| 11.2.8.Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12. Latin America Silicone Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Elastomers |
| 12.1.2.Fluids |
| 12.1.3.Resins |
| 12.1.4.Gels |
| 12.1.5.Others |
| 12.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Industrial Process |
| 12.2.2.Building & Construction |
| 12.2.3.Transportation |
| 12.2.4.Personal care & Consumer Products |
| 12.2.5.Medical & Healthcare |
| 12.2.6.Electronics |
| 12.2.7.Energy |
| 12.2.8.Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Wacker Chemie AG |
| 13.2.2.Reiss Manufacturing |
| 13.2.3.Rogers Corporation |
| 13.2.4.CSL Silicones |
| 13.2.5.KCC Corporation |
| 13.2.6.Innospec Inc. |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.