Silicone Market

Elastomers segment to hold largest market share during forecast period

The elastomers segment is expected to dominate the silicone market till the forecast period since it is highly versatile, and it outperforms various applications. Silicone elastomers are the best materials that offer high compatibility, thermal resistance, and UV light, chemicals, and harsh temperature conditions. Gaskets, seals, and elements used to dampen vibration in the automotive and transportation industries use elastomers. Elastomers are also used in electric vehicles where heat resistance and durability are paramount. The construction sector leads to demand in expansions joints and weatherproofing and energy efficient buildings also help the growth of the industry. Also, silicone elastomer-based implants, optimization of tubes, and wearable devices are increasing the use of medical-grade silicone elastomers since they are biocompatible and hypo-allergenic. Electronics manufacturing, especially miniaturized products and high-voltage insulation, adds further support to the demand for elastomers, as they are among the best dielectrics. As renewable energy, healthcare, and advanced mobility solutions continue to gain popularity with the associated decision-making units, silicone elastomers are expected to be the leading, with material innovations expanding regulatory-compliant formulation choices.

Building & construction segment to hold largest market share during forecast period

The building & construction segment of the silicone market is expected to dominate over the forecast period as modern infrastructure and sustainable building solutions rely heavily on silicone. Silicones can be found in abundance in sealants, adhesives, coatings, and weatherproofing systems in which they are more durable, UV resistant, and flexible than the alternatives. This is because they can withstand high temperatures and extreme and harsh environments, which are required in high-rise glazing, curtain wall systems, and energy efficient building envelopes.

Rising use of green building standards and high energy building codes across the globe have also led to an increase in demand for silicone-based products because of the role they play in thermal insulation and air-permeability in structures. Consumption is accelerating due to major construction projects in the form of smart cities and other large-scale Asia Pacific and Middle East infrastructural developments. Additionally, the development of low-VOC-silicone formulations has the potential to improve their applications, in line with governmental regulations in improving the low environmental impact. With the soaring levels of urbanization and investments in the sustainable and green architecture, silicones will remain central in assuring performance, safety, and energy efficiency in contemporary buildings, cementing this market segment in the top position.