Silicones Market Research Report- Forecast till 2030

Silicones market research report- information by type (resins, fluids, gels, and elastomer), application (building & construction, personal care & consumer products, automotive & transportation, medical & healthcare, industrial process, and others) region – Forecast till 2028

ID: MRFR/CnM/4030-HCR | November 2022 | Region: Global | 138 Pages         

Silicones market

silicone market size was valued at USD 14.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028


By Type resins fluids gels and elastomer
Application building & construction personal care & consumer products automotive & transportation medical & healthcare industrial process

Key Players

  • BASF SE (Germany)
  • Elkem Silicones (Norway)
  • Evonik Industries (Germany)
  • NuSil Technology LLC (U.S)
  • Shin-Etsu Chemical Co.Ltd.(Japan)
  • Wacker Chemie AG (Germany)
  • Dow Corning Corporation (U.S.)
  • Momentive (U.S.)
  • KCC Corporation (South Korea)


  • Rising automotive production and growing commercial construction activities are adding market growth.
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Silicones Market Overview 

The silicone market was valued at over USD 14.5 billion in 2020, and the market is projected to register a CAGR of greater than 4.4% during the forecast period (2021-2028). Silicone is a type of polymer that takes comes in different forms. This unique type of polymer contains components such as silicones and silane. Both these elements are extracted from pure silicon. These materials from the silicone are extracted through a heating process. Silicon dioxide is a part of silicone that is in sand form. There are three major steps to creating silicone. They are synthesis, hydrolysis and polymerisation.

There are exceptional qualities of silicone that makes it suitable for many applications. They have excellent flexibility, ageing resistance, stability, high water resistance, and have powerful insulation. Also, the anti-foaming properties, makes them suitable for industrial purposes. The industries having demand for silicone are personal care, automotive, transportation, consumer products, and building, and construction, industrial and medical sectors. Rapid developments are expected in the silicones market.

Today, silicone is widely used as a sealant in many regions. The industrial processes have high pressure, corrosion, and all types of surfaces. It is an enhanced lubricant that is useful for many industrial purposes. The elastomers segment of the market will have high demand. Elastomers are high-grade silicones that have higher demand medical devices and electronics market. Advanced medical processes and heart transplants require elastomers. This wide range of growth factors will contribute to immense Silicones market size value in the forecast period. 

Covid analysis 

The outbreak of covid 19, is affecting the operations of the global markets. Supply chain disruptions, fewer market demands are prevalent in global markets. Production and manufacturing facilities face a downfall in the forecast period. Like any other market silicones market is facing a decline in demand.

North America and the Asia Pacific are key regional players in the silicones market. These regions have plenty of silicone manufacturing facilities. However, the spread of covid 19 is rapid in these regions. Countries such as the US, China, India and Japan have high cases of covid. Since 2020, there is a decline in market demand. The supply disruptions chain affects the profitability of this market. However, since 2021, there is a gradual rise in the market demand. The operations are resuming in recent years. However, a newer wave of covid will adversely affect the market. 

Market dynamics 

  • Crucial market drivers 

Advanced properties of silicones are high demand driver for the market. Silicones are a versatile and multipurpose material. With these material several applications for indusial purpose is possible. They have high-end features such as adhesion, foam control, durability, safety, UV resistance. Also, appearance-wise they are glossy and transparent. Radiation resistance, heat resistance, and flexibility are some of the important properties of this product. Flexibility and transparency of the product lead to wider use of silicones.

This robust adoption rate is expected due to extreme heat resistance. They are even suitable in an environment that is higher than 100°C in temperature. Also, Silicone rubber is non-toxic and eco finely material that is used food sector. The sealant properties make them suitable gaskets. Even if steamed they will not melt and they can be disinfected through heat.

The enhanced features of silicones will attract many end-users in the forecast period. Rising demand from the automotive sector is another crucial driver of the market. The automotives use silicones for many applications. The increasing production of automobiles will lead to higher adoption of silicones. Growing commercial construction is another crucial driver of the market. These drivers will expand silicones industry size.

  • Market growth opportunities 

The emergence of microbial-based elastomers will lead to silicones market size growth. Today, Medical-grade silicone elastomers are useful for a wide range of applications. They are tested for biocompatibility in many health care markets. The suitability of this product is surging demand in the healthcare industry.

Due to their low toxic properties, they are safe for the use of medical purposes. Also, silicone elastomers are products that have fewer chemical reactions and low risks. , due to its high safety, it is used in both food and medical applications. Still, silicone is a product that is affected by any foreign object. Biocides are components that are developed to fight the bacteria’s that may affect the silicone.

Contamination and transmission of infection are less due to this component. This development in the medical industry can positively affect the silicone market. The emergence of elastomers with bacteria resistance can bring new developments to the market. Further, technological developments are another crucial factor for growth. Due to technologies, there are effective ways that resist bacteria in silicone. Especially, in medical applications it is necessary. Bacteria can damage can cause a foul smell in silicone elastomers. However, development in technology will bring favourable changes in the market. 

  • The market restraints 

The stringent regulatory policies act as a restraint for the market. There are silicones that are unique in nature. These silicones are used in personal care products. Various forms of silicones are used in other industries such as health, medicine and consumer products. Certain regulatory authorities pose rules on silicone.

In countries such as the UK, the concentration of silicone should be only 0.1%. Stringent rules can affect the use of this material in various products. Even countries such as US and UK have such a wide range of regulations. Also, the use of silicone in the health industry requires proper certification. Only medical-grade silicone is approved by officials. These stringent rules can affect the adoption rate of this market. 

  • The market challenges 

There are high fluctuations in the price of silicone raw materials that Isa significant market challenge. Raw material and energy prices volatility affect the operation of the silicone market worldwide. A sharp rise in raw material prices such as methyl, chloride and silicon metal is affecting the cost of this product.

For the last two years, the silicone market is effacing a decline in its profits. Due to fluctuations, the final cost of silicone is rising. There is a negative impact on the market due to rising silicone raw material prices. These market challenges can affect the growth in the forecast. 

  • Cumulative growth analysis 

The silicones market size trends is stable in the forecast period. The industrial segment is expected to witness the highest growth in this market. The elastomeric silicone will have the highest profitability among other segments. The use of silicone in the health industry is contributing to high growth.

Further, the advanced properties of silicone drivers demand various user ends. However, raw material price volatility remains a major challenge in the market. Also, stringent policy affects production. However, growth opportunities are higher due to microbial resistant silicones. These developments will create positive demand trends in the market. 

  • Value chain analysis 

The Asia Pacific is expected to dominate with the highest silicones market size share. The rapidly expanding demand for silicone from end-use sectors will boost demand. Especially, electronics, building, personal care, construction, consumer goods and transportation sectors have wide demand.

The surging demand for these end-users will create high market expansion. Furthermore, several silicone manufacturers are present in this market. Japan is a country with key market players. Their presence will create new developments and innovations in the market. In the forecast period, the silicones market will witness high growth in Asia pacific. 

Segment overview 

Silicones Market by type

  • Fluids

  • Resins

  • Elastomers

  • Gels 

  • Other Products

Silicones Market End-Use Industry:

  • Industrial Process

  • Energy

  • Transportation

  • Personal Care & Consumer Products

  • Building & Construction

  • Medical & Healthcare

  • Electronics

  • Agriculture

  • Packaging

  • Textile

  • sporting goods

Silicones Market by region:

  • North America

  • Asia pacific

  • South America

  • Europe

  • The Middle East and Africa 

The global silicones market share by end use industry (2016), (%)

 Silicones Market

Source: MRFR Analysis

Regional analysis 

The silicones market is fragmented into Asia Pacific, Europe and North America. These are three major global leaders with the highest silicones market size share. The Asia Pacific is the leading regional player. The growth in demand from end-users such as automotive, personal care, and building, transportation and construction will lead to high growth.

 There is the fastest-growing record in the Asia Pacific region. There are large-scale industrial, residential, and commercial construction projects in the Asia Pacific that lead to more adoption. Countries such as China, India, South Korea, and Malaysia witness a rise in silicone demand.

Furthermore, the rising number of w professionals in emerging countries is positively affecting demand. Rising disposable income creates growth opportunities in the personal care market. Also, rapid economic growth and cost efficiency of raw materials support market growth. North America is the next largest key player with plenty of shares. The presence of silicones key players positively affects the market. It is a region with high innovation and market scope. In the upcoming new product, launches will happen in this region. Europe is a region with high market expansion. 

The key players in the silicones market are 

  1. BASF SE (Germany)

  2. Saint-Gobain Performance Plastics (France)

  3. Elkem Silicones (Norway)

  4. Evonik Industries (Germany)

  5. GELEST, INC. (U.S.)

  6. NuSil Technology LLC (U.S)

  7. Shin-Etsu Chemical Co., Ltd. (Japan)

  8. Wacker Chemie AG (Germany)

  9. Dow Corning Corporation (U.S.)

  10. Momentive (U.S.)

  11. KCC Corporation (South Korea)

Recent development 

  1. The key players in Europe are opening many silicones market facilities to raise production. With the increase in product demand and supply, rates will surge in this market. 

  1. Key players in the Asia Pacific region are raising research investment on elastomeric silicones. Effective use of this silicone for medical operations is researched in this market. 

  1. The acquisitions and partnerships in the Middle East are rising for the market. This will create an expansion of the silicone market in the Middle East. 

Report Overview                                                                                

  1. Market overview highlights 

  2. Analysis based upon COVID 19

  3. Explanation upon the Market Dynamics

  4. Value chain analysis

  5. Market segmentation overview

  6. The regional analysis

  7. Competitive landscape analysis

  8. Recent Developments

Report Scope:

Report Attribute/Metric Details
  Market Size   2028 : USD 14.5 billion
  CAGR   2028: CAGR 4.4%
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Basis of type, application, and regions.
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Momentive (U.S.), Elkem Silicones (Norway), Evonik Industries (Germany), KCC Corporation (South Korea), GELEST, INC. (U.S.), NuSil Technology LLC (U.S.), Specialty Silicone Products, Inc. (U.S.), Saint-Gobain Performance Plastics (France), and BASF SE (Germany)
  Key Market Opportunities   Growing number of working professionals coupled with increasing disposable income in emerging nations has presented an opportunity to spend on personal care products
  Key Market Drivers   Rising automotive production and growing commercial construction activities are adding market growth.

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Frequently Asked Questions (FAQ) :

The silicones market size was valued at USD 14.5 billion in 2020


Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Momentive (U.S.), Elkem Silicones (Norway), Evonik Industries (Germany), KCC Corporation (South Korea), GELEST, INC. (U.S.), NuSil Technology LLC (U.S.), Specialty Silicone Products, Inc. (U.S.)

Rising automotive production and growing commercial construction activities are adding market growth.

Asia Pacific will dominate the silicones market.

Different strategies incorporated by industry players to create a foothold in the silicones market include extensive R&D, mergers and acquisitions, strategic alliances, and others.

The growth rate is projected at 4.4%.

It is widely used in healthcare, automotive, personal care, and other industries.