Silicone Market Insights, Current And Future Market Trends & Forecast Till 2027

The GMI Research expects the silicone market to expand at a higher rate. From a regional perspective, the Asia-Pacific is projected to increase at a faster CAGR due to the increasing adoption of silicone across various industry verticals, including electronics, transportation, and building & construction. The improvement in the automotive sectors across countries like China and India will drive market growth.

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Silicone Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The primary factor responsible for the growth of the global silicone market size includes the strong demand for silicone across various industries, such as healthcare, electronics, and transportation worldwide. Furthermore, numerous improved properties of silicone, including better thermal stability, enhanced flexibility, heat & radiation resistance, durability, and adhesion, will further propel the demand of the market across several application areas. According to the silicone market outlook, the strong demand for ultra-pure silicone in solar panels and numerous medical application areas that include instrument handles & medical tubing, followed by the increasing investments by several organizations for the development of silicone material with enhanced features, is projected to bolster the growth of the silicone market share in terms of revenue in the upcoming years. Elkem Silicones introduced its SILCOLEASE range for the pressure-sensitive industry, like the new members to the largest range of the release coatings. On the other hand, several strict regulatory policies of silicone globally will hinder the growth of the market. In Europe, all the sensitive applications in which silicones are utilized includes personal care and medical applications, are thoroughly regulated by some specific sectoral legislation to certify safety.

End-Use Industry Segment Drivers

Based on the end-use industry, the industrial process segment is expected to rise at a higher CAGR in the upcoming years due to the high adoption of silicone in the form of lubricants or antifoaming agents across numerous areas, such as paint additives and industrial coatings. Additionally, an increase in the drilling activities in economies like China and rising natural gas production are the emerging silicone market trends that is accelerating the demand for the market during the forecast period. The silicone products are utilized in the oil & gas sector in different areas that include pipeline support gaskets, thermal insulation, seals, and vibration isolation.

Silicone Market’s leading Manufacturers:

  • Shin-Etsu Chemical Co., Ltd.
  • Wacker Chemie AG
  • Elkem ASA
  • Momentive
  • Dow
  • Evonik Industries AG
  • Innospec
  • Specialty Silicone Products, Inc.

Silicone Market Segmentation:

Segmentation by Type:

  • Silicone Fluids
  • Silicone Elastomers
  • Silicone Resins
  • Silicone Gels
  • Others

Segmentation by End-Use Industry:

  • Building & Construction
  • Industrial Process
  • Personal Care & Consumer Products
  • Transportation
  • Healthcare
  • Electronics
  • Energy
  • Others

Segmentation by Region:

  • North America

o   United States of America

o   Canada

  • Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

  • Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

  • RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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