Silicone Market

Global Silicone Market is valued at USD 21.31 Billion in 2021 and is expected to reach USD 58.77 Billion by 2028 with a CAGR of 15% over the forecast period.

Global Silicone Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2028. Rising demand from the electronics sector as well as a rise in the automotive industry is expected to boost the growth of the Silicone market over the forecast period. 

Scope:-

Silicone is a chemical element that is present in sand and glass and which is the best-known semiconductor material in electronic components. Silicones are high-performance oligomers or polymers exhibiting various physical forms ranging from solids to water-thin liquids, semi-viscous pastes, greases, and oils. Silicones display a multitude of unique properties such as lubricate, seal, bond, release, defoam and encapsulate. Silicones conduct electricity and do not harden, crack, peel, crumble, rot, or brittle with age. Due to these physical properties, silicones are widely used in the transportation and automobile industry. These are also used in whiteware ceramics such as porcelain, traditional quartz-based soda-lime glass, and many other specialty glasses.

Silicone is used for electronic devices because it is an element with very special properties. One of its most important properties is that it is a semiconductor. This means that it conducts electricity under some conditions and acts as an insulator under others. advanced Silicone technology showcased advanced memory and system logic devices. In addition, silicone offers multiple advantages to power circuit designers, but at the same time suffers from limitations that are inherent to silicone material properties such as low bandgap energy low thermal conductivity, and switching frequency limitations.

Global silicone market report is segmented on the basis of product type, application, and by regional & country level. Based on product type, the market is classified as the elastomers, fluids, resins, gels, and others. Based upon application, market is classified into building & construction, transportation, personal care & consumer goods, energy, electricals & electronics, paper, textile, and others.

The regions covered in this silicone market report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of silicone is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Manufacturers:-

Some major key players for the global silicone market are -

• CSL Silicone Inc.
• Reiss Manufacturing Inc.
• CHT Group
• Silchem Inc.
• Silteq Limited
• Allergan
• Ashland Incorporated
• Saint-Gobain
• Roger Corporation
• Primasil Silicone
• Sivance
• Elkay Chemicals Pvt. Ltd.
• Supreme Silicones
• Shin-Etsu Chemical Co. Ltd.
• Amul Polymers
• others

Segmentation Analysis:-

By Product Type

• Elastomers
• Fluids
• Resins
• Gels
• Others

By Application

• Building & Construction
• Transportation
• Personal Care & Consumer Goods
• Energy
• Electricals & Electronics
• Paper
• Textile
• Others

Market Dynamics:–

Rising product demand from the electronics sector, owing to its high thermal stability and resistance to weathering, ozone, moisture, and UV radiation, is estimated to drive the silicone market. Growing demand for lightweight materials in the automotive industry and increasing R&D activities for product innovation are projected to propel overall industrial growth in the years to come. According to the World Energy in 2018, global electricity demand grew at 2.1% per year twice the rate of primary energy demand. However, the high production cost of silicone elastomers, owing to high raw material and processing costs, is estimated to hamper the market growth. According to the Health World Organization (WHO) in 2017, the chemical industry coatings invested 51 billion in R&D, the largest chemical R&D spend with an investment of 14.6 billion followed by the US with a 12.1 and a 6.9 billion investment.

Therefore, manufacturers of medical devices are seeking newer technologies to help reduce the growth of microorganisms on their devices. For this purpose, additives known as antimicrobials or biocides are being used. Antimicrobial silicone elastomers are used for enhancing the performance of end products by reducing microbial contamination of elastomers. The growth of microbes can harm the end products and can cause foul smell, discoloration, and formation of fungus in many medical device applications such as wound drains and catheters. Antimicrobial silicone elastomer controls the growth of microbes in or on the human body. Therefore, the development of these elastomers is expected to provide new growth opportunities to the market.

Regional Analysis:–

North America is estimated to be the leading silicone market during the forecast period. Rising demand for minimally invasive surgeries and the presence of sophisticated healthcare infrastructure in this region is estimated to be favorable factors for the market growth. According to the World Energy (WE) in energy-efficient, more than 76% of all U.S. electricity use and more than 40% of all U.S. energy use and associated greenhouse gas (GHG) emissions are used to provide comfortable, well-lit, residential and commercial buildings and to provide space conditioning and lighting for industrial buildings reduce this energy use by 2030.

Also, Asia-Pacific is anticipated to experience rapid growth during the forecast period due to the rise in demand for automobiles, portable electronics, and solar panels in the region, especially in developing countries such as China and India. According to the automotive industry in 2019, the automobile industry saw its worst-ever half-yearly performance as sales dived 17.08 % to 11,736,976 units. The passenger vehicles segment saw an overall decline in sales of 23.56 % at 1,333,251 units in this period. In addition, the rising renewable energy market and rapid electric vehicle penetration are creating lucrative growth opportunities for the silicone market in Asia-Pacific. Moreover, the rapidly developing automotive sector in China with low manufacturing costs is estimated to fuel the regional market.

NEWS:-

CHT gains access to North America with ICM Silicones Group purchase

Oct 06, 2017: - ICM Silicones Group and CHT Group are about to take the next step in silicone compounding. The firms will combine to make a significant Tier 2 player in the silicones space now that CHT finalized a deal to acquire ICM and its group companies, including QSi and ACC, from its private equity owner Century Park Capital Partners. This is probably one of the best fits that said. However, the CHT's map, they had very little presence in the U.S. and now they have access in a big way to the U.S. market. They can funnel into the U.S. in a very effective way and on top of that they get a different technology base from ICM Silicones Group. There is very little overlap so the fit is perfect. The global footprint for a custom compounder is unique in the industry said Ken Kemerer, ICM chief operating officer. Taking four or five independent chemical/silicone sites and merging them into one organization they have over the last three years and getting it ready for an opportunity like this to use those synergies to grow even faster with CHT. On top of that, ICM has invested more than $600,000 to expand its laboratory capabilities for research and development. Phil McDermott, ICM vice president of technology said its headquarters in Michigan received about $400,000 to extend its lab to 2,300 square feet and the ACC site in Bridgwater received a $200,000 project, also geared toward expanding its R&D capabilities.

On Special Requirements Silicone Industry Report is also available for the below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

The Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Report Coverage

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2022 - 2028
Market Size in 2021:	USD 21.31 Billion
Base year considered	2020
Forecast Period CAGR %:	15%
Market Size Expected in 2028:	USD 58.77 Billion
Tables, Charts & Figures:	175
Pages	300
Silicone Companies	CSL Silicone Inc., Reiss Manufacturing, Inc., CHT Group, Silchem, Inc., Silteq Limited, Allergan, Ashland Incorporated, Saint-Gobain, Roger Corporation, Primasil Silicone, Sivance, Elkay Chemicals Pvt. Ltd., Supreme Silicones, Shin-Etsu Chemical Co. Ltd., Amul Polymers, others.
Segments Covered	By Product Type, By Application
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa