Silicone Global Market Report 2022

Silicone Global Market Report 2022 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global silicone market.

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• Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market research findings.
• Benchmark performance against key competitors.
• Utilize the relationships between key data sets for superior strategizing.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order.

Where is the largest and fastest growing market for the silicone? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The silicone market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider silicone market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. Drivers and restraints looks at the external factors supporting and controlling the growth of the market.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets. It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
• The silicone market section of the report gives context. It compares the silicone market with other segments of the silicone market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, silicone (except resins) indicators comparison.

Scope

Markets Covered: 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 User: Industrial; Electronics; Machinery; Aerospace; Medical

Companies Mentioned: Wacker-Chemie GmbH; CSL Silicones; Specialty Silicone Products Incorporated; Evonik Industries AG; Kaneka Corporation

Countries: Brazil; China; France; Germany; India; Indonesia; Japan; South Korea; Russia; UK; USA; Australia

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Executive Summary

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.

The global silicone market is expected to grow from $15.88 billion in 2021 to $18.31 billion in 2022 at a compound annual growth rate (CAGR) of 15.3%. The market is expected to grow to $33.74 billion in 2026 at a CAGR of 16.5%.

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

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 and 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.

Rising prices of raw materials adding to the manufacturing costs are expected to restraint 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 sustainable policies 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 elastomers 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 increasing stress on the use of environmentally friendly materials is positively affecting the silicone market. Silicone products are regarded as environmentally friendly and more durable than that of plastic products. For instance, in 2019, The Canadian Health Department reported on its website, stated that there are no health risks associated with the use of silicone cookware instead of plastic cookware.

In 2019, Elkem ASA, a Norway-based leading silicone manufacturer, acquired Basel Chemie Co., Ltd for an undisclosed amount. Acquisition of Basel Chemie Co., Ltd was aimed to strengthen Elkem ASA's silicone gel manufacturing capabilities. Basel Chemie Co., Ltd. is a South Korea-based company that specializes in manufacturing silicone gels for its use in cosmetics and water repellents.

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