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Global Silicone Market By Type (Elastomers, Fluids, Resins, Gels, Others), By End User (Industrial Process, Building & Construction, Transportation, Personal Care & Consumer Products, Medical & Healthcare, Paper, Textile, Electronics, Energy, Others), By Region (North America, Europe, Asia Pacific, South America, Middle East and Africa).
Global Silicone Market Overview
Silicone also known as polysiloxane is a polymer made up of siloxane. It is a high performing oligomer having several physical forms like solid, liquid, oil, grease, etc. The unique properties of silicone include low chemical conductivity, low toxicity, resistance to oxygen, ozone and ultraviolet light, high gas permeability, prevents microbiological growth, etc. The compounds of silicone are pervasive in the environment. Silicone conduct electricity and do not crack, crumble, rot, peel and brittle. It is well known for its low compression set in both extremes of heat and cold and has a long durability. Widely used in coating, gaskets, keyboard pads, sealants, cooking utensils, insulation, seals, etc.
Global Silicone Market Insight
The global silicone market stood at USD 16.7 billion in 2021 and is likely to reach USD 23.4 billion by the end of 2027 by registering a CAGR of 7.0% during the forecast period, 2021-2027. The vital factor for the rising demand is mainly because of its usage in numerous industries. The demand for light weighted materials in the automobile industry, fuels the growth of silicone and a huge amount is spent on research and development for expanding the usage of silicone in producing new materials and widening the end user industry.
As people are shifting to healthy life style, they prefer utensils that are made of non-toxic material like silicone where there can be a contact with food. Silicone also helps in reducing the effects of high-polluting industry by providing dry cleaning liquid solvent which is considered as an alternative for chlorine containing perchloroethylene solvent. Further, there has been many experiments conducted by scientists for increasing the usage of silicone in industries like cosmetics, personal care, medicine, etc.
Growth Driver
Demand for Medical-grade Silicone
The increase in demand for medical-grade silicone is due its wide usage in medical devices as they are super flexible, stable and biocompatible and also improves the performance of these devices. The strong chemical structure with compatibility makes the silicone best suitable for the devices. Further, there has been an increase in the usage of silicone in peristaltic pumps and surgical components that in return increases the demand for silicone.
Reduces the carbon foot-print
As people largely rely upon plastic for many purposes, a good alternative for plastic is silicone which is considered to be human and ocean friendly. As the silicone products usually have a long durability, the consumption of raw material is low and those materials can be used for producing various essential items, reducing the carbon footprint. Also using silicone in the manufacturing of solar panels can reduce the carbon emission as well as increase the average energy payback time.
Type Segmental Analysis
Based on the type, the global silicone market can be segmented into Elastomers, Fluids, Resins, Gels, Others. The elastomer segment is witnessed to have the highest market share in the forecasted period. The demand for this segment is mainly for its heat stability property and is majorly used for electrical insulation like wires, tapes, extruded mouldings and sleeving, sheets, etc. It is also used in various products like food storage products, cooking, undergarments, sportswear, medical devices etc. It offers a very unique property like serviceability over the temperature range of +500 degree to -150 degree and has stability against weathering and resistance to chemicals.
End User Segmental Analysis
Based on the end user, the global silicone market can be segmented into Industrial Process, Building & Construction, Transportation, Personal Care & Consumer Products, Medical & Healthcare, Paper, Textile, Electronics, Energy, Others. The industrial process segment captures the highest revenue in the market. Silicone is used as lubricant in brake, bicycle chain, etc for its stability at high temperature, in industrial coating to have a waterproof and strong composite, in paints for stain resistance, in paper production, etc.
Region Segmental Analysis
Based on the region the global silicone market can be segmented into North America, Europe, Asia Pacific, South America, Middle East and Africa. The Asia Pacific region is considered to have the leading market share for the 2021. The main reason is due to the increase demand in the automotive sector mainly in India and China with low manufacturing cost. Also, a raise in the construction activity and usage of silicone in personal care and medical industry has burgeoned resulting to increase the demand of silicone.
Competitor Analysis
Companies such as Wacker Chemie AG, KCC Corporation, Shin-Etsu Chemical Co., Ltd, Gelest Inc, Evonik Industries AG, The Dow Chemical Company, Kaneka Corporation, Arkema Group, Ferroglobe PLC, Quantum Silicone are the key players in the global silicone market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global antibodies & reagents manufacturing firm
- Research organizations and consulting companies
- Organizations, associations, and alliances related to antibodies & reagents
- Regulatory bodies
- Suppliers
- Retailers
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
- By Type
- Elastomers
- Fluids
- Resins
- Gels
- Others
- By End User
- Industrial Process
- Building & Construction
- Transportation
- Personal Care & Consumer Products
- Medical & Healthcare
- Paper
- Textile
- Electronics
- Energy
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Supply Chain Analysis
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Technological Landscape
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2020
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Impact of COVID-19 on Antibodies & Reagents Market
- Global Silicone Market Overview
- Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Market Share & Forecast, 2016-2027
- By Type
- Elastomers
- Fluids
- Resins
- Gels
- Others
- By End User
- Industrial Process
- Building & Construction
- Transportation
- Personal Care & Consumer Products
- Medical & Healthcare
- Paper
- Textile
- Electronics
- Energy
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
- Demand
- Market Size & Forecast, 2016-2027
- North America Silicon Market Overview
- North America Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- North America Market Share & Forecast, 2016-2027
- By Type
- Elastomers
- Fluids
- Resins
- Gels
- Others
- By End User
- Industrial Process
- Building & Construction
- Transportation
- Personal Care & Consumer Products
- Medical & Healthcare
- Paper
- Textile
- Electronics
- Energy
- Others
- By Country
- US
- Canada
- Mexico
- By Type
- Demand
- North America Market Size & Forecast, 2016-2027
- Europe Silicone Market
- Europe Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Europe Market Share & Forecast, 2016-2027
- By Type
- Elastomers
- Fluids
- Resins
- Gels
- Others
- By End User
- Industrial Process
- Building & Construction
- Transportation
- Personal Care & Consumer Products
- Medical & Healthcare
- Paper
- Textile
- Electronics
- Energy
- Others
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- By Type
- Demand
- Europe Market Size & Forecast, 2016-2027
- Asia Pacific Silicone Market
- Asia Pacific Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Asia Pacific Market Share & Forecast, 2016-2027
- By Type
- Elastomers
- Fluids
- Resins
- Gels
- Others
- By End User
- Industrial Process
- Building & Construction
- Transportation
- Personal Care & Consumer Products
- Medical & Healthcare
- Paper
- Textile
- Electronics
- Energy
- Others
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- By Type
- Demand
- Asia Pacific Market Size & Forecast, 2016-2027
- South America Silicone Market
- South America Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- South America Market Share & Forecast, 2016-2027
- By Type
- Elastomers
- Fluids
- Resins
- Gels
- Others
- By End User
- Industrial Process
- Building & Construction
- Transportation
- Personal Care & Consumer Products
- Medical & Healthcare
- Paper
- Textile
- Electronics
- Energy
- Others
- By Country
- Brazil
- Argentina
- Rest of South America
- By Type
- Demand
- South America Market Size & Forecast, 2016-2027
- Middle East and Africa Silicone Market
- Middle East and Africa Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Middle East and Africa Market Share & Forecast, 2016-2027
- By Type
- Elastomers
- Fluids
- Resins
- Gels
- Others
- By End User
- Industrial Process
- Building & Construction
- Transportation
- Personal Care & Consumer Products
- Medical & Healthcare
- Paper
- Textile
- Electronics
- Energy
- Others
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- By Type
- Demand
- Middle East and Africa Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- Wacker Chemie AG
- KCC Corporation
- Shin-Etsu Chemical Co., Ltd.
- Gelest Inc
- Evonik Industries AG
- The Dow Chemical Company
- Kaneka Corporation
- Arkema Group
- Ferroglobe PLC
- Quantum Silicone
