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Specialty Silicone Market Research Report by Type (Silicone Elastomers, Silicone Greases, Silicone Surfactants, Silicone Polish, Silicone Textile Softeners, Others), End-Use Industry (Textiles, Healthcare, Electronics, Others) ‚Äď Forecast till 2030

ID: MRFR/CnM/3730-HCR | 138 Pages | Author: Anshula Mandaokar| June 2024

Specialty Silicone Market Overview

The specialty silicone market size is predicted to grow from USD 16.7 billion in 2021 to USD 27.0 billion by 2030, at a CAGR of 7.8% from 2022 to 2030 globally.

Silicones are also known as polysiloxanes; these are polymers that include synthetic compounds made up of siloxane. These are heat resistant and are widely used in lubricants, cooking utensils, adhesives, medicine, and thermal and electric insulation. Specialty Silicones are versatile products that help in increasing product performance and make them more effective and durable. These are extensively used in various industries such as personal care, electronics, health care, and building and construction, among others. Thermal stability, low toxicity, heat and water resistance, low chemical reactivity are some of the properties which make specialty silicones suitable for many end-use industries. The rise in demand from end-user industries is the major factor enhancing the growth of the market. However, the growing demand for specialty silicones from skin lightening and other skincare products is further expected to rush the specialty silicone market growth. This market is divided based on applications and product type. These are extensively used in applications such as dental, medical implants, aerospace, and automotive applications. 

Covid-19 analysis

Due to the covid-19 pandemic, every market has faced economic loss due to strict regulations implemented by the government of different regions to control the spread of the virus across the world. This resulted in shutdowns of the industries and shutdown of the import and exports as international transport was sealed. The production of the specialty silicone was stopped due to the unavailability of labor and stringent regulations. As everybody was focusing on the cure and prevention of the disease, there was a disruption in demand and supply chain, which impacted production. To make sure employees' safety, industries stopped production, which resulted in n declination of the specialty silicone market.

Chief Factors Existing In The Market

Key Market Drivers

These are the most versatile products used in very large quality industries. These have unique properties like durability, dielectricity, adhesion, foam control, UV stability, glossiness, transparency, hydrophobicity, radiation resistance, heat resistance, discharge safety and flexibility, which are used in myriad forms and applications. These are highly durable and resistant materials best to use in temperatures higher than 100 degrees Celcius. Silicone rubbers are non-toxic and are used where food quality is required. The superior properties of silicone are that it is used to make seals and gaskets that need to be steamed or sterilized. It shows excellent electrical resistance; it is also used in electrical and electronics industries. Here are some of the key drivers that drive the specialty silicone market.

Market Challenges

The main challenge to the specialty silicone market is the continuous fluctuation of raw materials and energy prices. The direct increase in the prices of raw materials such as methyl chloride and silicon metal from 2016 to 2018 indirectly reduces the profit margins of the silicone manufacturers. This resulted in an increase in the price of overall silicone products. The increase in raw materials costs is expected to have a negative impact on the specialty silicone market globally. The manufacturers of the silicone face continuous high and volatile feedstock costs and are expected to pass the price rise to the end-users. The major players in the silicone market, such as Wacker and Elkem, have increased the price of their silicone products to adjust the energy cost and raw material costs. This continuous fluctuation of raw materials and energy prices has become a major challenge for the manufacturers as well as the Specialty Silicone Market Share.

Market Opportunities

Medical-grade silicone elastomers are used for biocompatibility and are more suitable for the healthcare industry. Due to their low toxicity, these are used for medical applications, which gives a low risk of unfavorable biological reactions and have gained acceptance in medical applications and foods. The bacteria and other microorganisms affect the properties of silicone elastomer. Biocides are used to fight these microorganisms and prevent the accumulation of harmful bacteria, which increases the risk of contamination or transmission of infections in humans.After taking all the preventive measures, the commonness of hospital-acquired infections is increasing globally, therefore operating the need for better preventions and technologies to decrease the rates of infections. These are used for enhancing the performance of the end products by reducing microbial contamination. The growth of the microbial can harm the end products and can cause foul smell, discoloration and fungus formation in many medical applications. Antimicrobial silicones control the growth of microbes in the human body. The development of these is expected to give new growth opportunities to the Specialty Silicone Market value.

Market Restraints

There are many silicone products that do not have any restrictions. The use of these few silicone products, especially in the personal care & consumer products and medical & healthcare industries, are managed by certain directing authorities in some countries. When silicones are USP Class V and VI approved, then only they are considered as a medical grade in the medical and healthcare industries. All medical-grade silicones must be approved by the directing bodies before they are commercialized. A few regulations that companies have to observe while manufacturing silicone rubber for the medical industry. All these regulations and their approval process are time-consuming, which are restrained the growth of the Specialty Silicone Market in these industries.

Cumulative Evaluation Of The Market 

The silicone industry is driven mainly by its growing demand in various end-use industries, such as building & construction, personal care & consumer goods, industrial process, transportation, and electronics.

Market Segmentation 

The Global Specialty Silicone Market is divided into the type and end-use industry. 

Under the basis of type, the market is divided into antifoam / defoaming agents, silicone elastomers, silicone greases, silicone surfactants, silicone polish, silicone textile softeners, silicone water repellants, thin silicone membranes and others. 

Under the basis of the end-use industry, it is divided into textiles, healthcare, electronics, construction, cosmetic and personal, automotive and others.

The Global Specialty Silicone Market Share by Product Type: Specialty Silicone Market

Regional Analysis

According to the Specialty Silicone Market Analysis, the Specialty Silicone Market is divided into five regions Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. 

Asia Pacific holds a major share of the market and is predicted to be the fastest-growing market with an encouraging CAGR. With the growing population and the increase in personal disposable incomes, the developing nations are the major reasons for operating the growth of the specialty silicone market. 

North America is another dominant region in the market of Specialty Silicones, showing an expanding CAGR. The newly elected government has brought about a new wave of investments in the construction and renovation of the infrastructure, mainly in the U.S. and Canada, which is further expected to rise the market in the region.

The European region is a profitable market mainly operated by the developed automobile, healthcare, and cosmetic industry. The growing demand for Specialty Silicone from the cosmetic and personal care industry is driving the growth of the market. Specialty Silicones form a basic ingredient in skincare products such as serums, creams, shampoos, and other hair care products.

Competitive Intensity Within The Industry

There are some main key manufacturers in the silicone market who are the competitors of one another, such as The Dow Chemical Company, Wacker Chemie AG, Shin-Etsu Chemical Co. Ltd., Elkem ASA, Momentive, KCC Corporation, Evonik Industries AG, Gelest Inc., and Innospec Inc., among others. These manufacturers maintain Specialty Silicone Market Trends.

Recent Market Developments

November 2021- SAS Industries disclosed that the company had acquired Specialty Rubber Corp, resulting in the expansion of the company’s footprint in the gasket manufacturing industry. A gasket and seal manufacturer, SAS Industries, has had a well-established presence in North Carolina and New York for over the past 45 years. The company is known for various machinery processes, including vulcanizing, extruding, compression molding, waterjet cutting, liquid injection molding, die-cutting, and flash cutting, offering a broad range of customers in defense and telecommunications, aerospace, aviation, and other industries.

November 2021- a 100% subsidiary of Cosmo Films Ltd., Cosmo Speciality Chemicals, has built a hydrophilic block silicone emulsion, which enhances softening due to their lower rotational free energy compared to C-O bonds compared with any other conventional non-silicone softeners.

October 2021- Elkem has disclosed a premeditated investment plan to open the latest specialty silicones supply for customers across the Middle East and Africa (EMEA), Europe, and the American region. The firm will offer over €36 million (NOK 350 million) funding to update and debottleneck the company’s silicone upstream plant-based in Roussillon, France.

In May 2020, Elkem Silicones announced that they would be launching a new brand PURESIL to strengthen its position in the personal care market as a specialty silicone supplier. This step is a result of its acquisition of Basel Chemie. PURESIL has been developed to help in innovation and technologies so that the end users can plan for better research and development projects. PURESIL is primarily an elastomer gel that will help in delivering specific sensory cues, formulation texture, SFP boosting, optical wrinkle masking, and others.

Report overview

This report includes all the data of the market, such as market overview, covid-19 analysis and how it affects the market, the key drivers, the market opportunities, theSpecialty Oxidants Market forecast,  the key drivers, the challenges that the market face, the market restraints, the market segmentation, the regional analysis, Specialty Oxidants Market Outlook, the competitive landscape, report overview and recent development of the market.

Key Industrial Segments

Based on Type

  • Elastomers

  • Fluids

  • Resins

  • Gels & Other Products

Based on End-Use Industry

  • Industrial Process

  • Building & Construction

  • Transportation

  • Personal Care & Consumer Products

  • Medical & Healthcare

  • Electronics

  • Energy

  • Others 

Based on the region

  • North America

  • Europe

  • APAC

  • MENU

  • South America

Report Attribute/Metric Details
  Market Size   2030: USD 27.0 billion
  CAGR   7.8% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   type and end-use industry
  Geographies Covered   Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
  Key Vendors   Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Momentive (U.S.), Shin-Etsu Chemical Company (Japan), Elkem AS (Norway), Evonik Industries AG (Germany), Siltech Corporation (Canada), AB Specialty Silicones (Illinois), and KCC Basildon (U.K)
  Key Market Opportunities    The increasing demand from the end user industries is the major factor augmenting the growth
  Key Market Drivers   The growing demand for Specialty Silicone from the skin lightning and other skin care products is further expected to surge the market growth

Frequently Asked Questions (FAQ) :

Specialty silicones are polymers including synthetic compounds made up of siloxane. They are also known as polisiloxanes.

Specialty silicones are used in a range of end-use applications, including construction, textiles, healthcare, and electronics.

The construction industry is the leading end user of specialty silicones, which make for the perfect material for adhesives used in construction projects.

Silicon elastomers are the leading product type in the specialty silicones market, accounting for a 30% share in the global market in 2017.

Asia Pacific is the leading regional market for specialty silicones due to the growing construction industry in the region.

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