The silicone market is projected to grow from USD 18.5 billion in 2022 to USD 27.0 billion by 2027, at a CAGR of 7.8% during the forecast period. Superior properties of silicone and high demand for silicone in electronics industry will drive the silicone market during the forecast period. Unique properties of silicone such as durability, dielectricity, adhesion, foam control, discharge safety, UV stability, glossiness, transparency, radiation resistance, hydrophobicity, heat resistance, and flexibility make it one of the most versatile products used in a wide range of industries.
Most manufacturers in this market are based in North America, Europe and Asia Pacific. Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Elkem ASA (Norway), The Dow Chemical Company (US), Momentive Performance Materials, Inc. (US), Gelest, Inc. (US) are among the leading players operating in the silicone market. These players have adopted various growth strategies to strengthen their position in the market. This include product launches, expansions and acquisitions, and new product development activities further to expand their presence in the silicone market.
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Wacker Chemie AG
Wacker Chemie AG (Germany) is one of the leading silicone manufacturers across the globe. The product portfolio of the company includes silicone fluids, emulsions, elastomers, sealants, and resins to pyrogenic silicas. The company serves different end markets, such as construction, automobile, paints, textiles, cosmetics, electronics, and paper. The company has presence in Europe, North America, South America and Asia Pacific.
Shin-Etsu Chemical Co., Ltd.
Shin-Etsu Chemical Co., Ltd. (Japan) is the largest manufacturer of silicones in Japan. The company offers over 5,000 silicone based products for users in a wide range of industries, such as electrical/electronic manufacturing, auto manufacturing, construction, cosmetics, healthcare, and chemical. The company has production facilities and sales offices globally, including Japan, the US, South Korea, China, Taiwan, Singapore, Thailand, and the Netherlands.
Elkem ASA (Norway) is known for its environmentally friendly silicone. The company serves various industries, such as agriculture, construction, electrical & electronics, energy, food & beverage, home & personal care, life science, pulp & paper, rubber, plastic & composite, textiles & leather, and transportation. The company provides silicone products through its Elkem Silicones division under the brand BLUESIL, CAF, LSR SELECT, MIX ANA FIX CENTER, SILBIONE, SILCOLEASE, SILCOLAPSE, LYNDCOAT, and MIRASIL. The company has production facilities in Europe, North America, South America, Africa, and Asia.
The Dow Chemical Company
The Dow Chemical Company (US) is one of the leading chemicals and plastics manufacturers serving various industries such as packaging, infrastructure, transportation, consumer care, electronics, and agriculture. The company offers silicone products under the brand name XIAMETER and DOWSIL. The company has its presence in Europe, Middle East & Africa, Asia Pacific, North America and South America.
Momentive Performance Materials, Inc.
Momentive Performance Materials, Inc. (US) is one of the largest producers of silicone and its derivatives. The company also offers silicone surfactants and serves industries, such as automotive, electronics, personal care, consumer products, aerospace, and building and construction. The company has presence in the US, Canada, Colombia, Brazil, Germany, the Netherlands, Italy, Belgium, the UK, China, Japan, Singapore, Thailand, India, Australia, France, Mexico, New Zealand, and Turkey.
Silicone Market by Type (Elastomers, Fluids, Resins, Gels), End-use Industry (Industrial Process, Building & Construction, Personal Care & Consumer Products, Transportation, Electronics, Medical & Healthcare, Energy), and Region - Global Forecast to 2027
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