PUBLISHER: The Business Research Company | PRODUCT CODE: 1712562
PUBLISHER: The Business Research Company | PRODUCT CODE: 1712562
Silicone is a polymer derived from siloxane and is commonly used in the production of lubricants and synthetic rubber. It is known for its distinct properties, including thermal stability, hydrophobic characteristics, and physiological inertness.
The primary product categories of silicone include elastomers, fluids, gels, and other related products. Elastomers are polymers that exhibit both viscosity and elasticity, making them viscoelastic in nature. Silicone products have a wide range of applications, spanning industries such as construction, transportation, electrical and electronics, textiles, personal care, pharmaceuticals, and various other sectors. They are utilized in diverse industrial applications, including electronics, machinery, aerospace, and the medical field.
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 market 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.
The silicone market size has grown rapidly in recent years. It will grow from $24.65 billion in 2024 to $28.73 billion in 2025 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to construction and building, automotive industry, electrical and electronics, healthcare and medical devices.
The silicone market size is expected to see rapid growth in the next few years. It will grow to $50.05 billion in 2029 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to green and sustainable materials, renewable energy infrastructure, advanced electronics and 5g, consumer and industrial 3d printing. Major trends in the forecast period include bio-compatible silicones, silicone hybrid materials, sustainable manufacturing, high-performance thermal managementadvanced functional silicones.
The expansion of the automobile sector is expected to drive the growth of the silicon (except resins) market in the future. The automobile sector comprises businesses and institutions involved in designing, producing, marketing, and selling vehicles. Silicones are widely used in manufacturing engine gaskets, seals, and hoses, which must endure high temperatures, pressure, and chemical exposure. Silicones are particularly suitable for these applications due to their heat resistance and durability. For example, in January 2023, the National Automobile Dealers Association (NADA), a U.S.-based trade organization, reported 13.7 million new light-vehicle sales in the United States, with projections for 2023 reaching 14.6 million new light-vehicle sales, representing a 6.6% increase over 2022 estimates. Therefore, the growth of the automobile sector is fueling the expansion of the silicon market.
The increasing demand for electronic devices is expected to fuel the growth of the broader silicon market. Silicon plays a pivotal role in the semiconductor industry, enabling the creation of various electronic components and integrated circuits (ICs) that form the foundation of modern electronics. For example, in March 2023, a report by Cybercrew revealed that the percentage of UK households using smartphones reached 91.43% in 2021, with projections indicating a rise to 93.8% in 2026. This highlights the sustained growth in electronic device usage. Consequently, the demand for electronic devices is a key driver for the silicon market.
Major companies in the silicon market are concentrating on developing advanced products like silicone resin binders to offer superior binding properties for high-performance coatings. Silicone resin binders, made from silicone polymers, provide exceptional heat resistance, water repellency, and chemical stability. They form durable protective films that safeguard surfaces from UV radiation, extreme temperatures, and moisture. For example, in April 2023, Wacker, a Germany-based chemical company, introduced SILRES M 51 E and SILRES IC 900. These innovative silicone resin binders are engineered for industrial coatings, capable of withstanding temperatures up to 600°C and adhering effectively to metals such as steel and aluminum. Their heat-stable properties make them ideal for use in high-temperature environments like chemical plants and piping systems.
Leading companies in the silicon market are developing innovative products like silicone resins to boost profitability. Silicone resins are specialized silicone materials composed of branching, cage-like oligosiloxanes with the general formula RnSiXmOy, where R typically represents a non-reactive substituent like Methyl (Me). For instance, in January 2022, B9Creations, a US-based provider of additive manufacturing solutions, launched BioRes Silicone, a medical-grade elastomeric resin designed for 3D printing. This biocompatible material is suitable for skin contact and is ideal for medical and consumer tech applications due to its excellent tear resistance and ability to endure repeated flexing, compression, and bending without deformation. It is compatible with B9 Core 5 Series Med XL printers and other photopolymer resin platforms, making it ideal for precision parts and ergonomic designs.
In May 2024, KCC Corporation, a South Korea-based chemical company, completed its acquisition of Momentive Performance Materials Group for an undisclosed amount. This acquisition strengthens Momentive's capabilities in advanced silicones and specialized applications, enhancing its technological expertise and geographic presence. Momentive Performance Materials is a US-based producer of silicones and silicone derivatives.
Major companies operating in the silicone (except resins) market include Wacker-Chemie AG, CSL Silicones Inc., Specialty Silicone Products Inc., Evonik Industries AG, Kaneka Corporation, Dow Corning Corporation, Momentive Performance Materials Inc., Elkem ASA, Gelest Inc., BASF SE, Emerald Performance Materials LLC, Shin-Etsu Chemical Co., Ltd., Siltech Corporation Inc., ICM Products Inc., CHT Group, Primasil Silicones Ltd., 3M Company, Nusil Technology LLC, Allergan PLC, Ashland Inc., Arkema Inc., Silteq Limited, KCC Corporation, SiVance LLC, Zhejiang Xinan Chemical Industrial Group Co. Ltd., Reiss Manufacturing Inc., Compagnie de Saint-Gobain SA, Silicone Solutions, Dow Chemical Company, Covestro AG, Huntsman Corporation, Eastman Chemical Company, Mitsui Chemicals Inc., DIC Corporation
Asia-Pacific was the largest region in the silicone market in 2024. North America was the second-largest region in the global silicone market. The regions covered in the silicone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the silicone market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The silicone 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.
Silicone Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on silicone market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.