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Silicone Market

Market Insights on Silicone covering sales outlook, demand forecast & up-to-date key trends

Global Silicone Market by Product Type, End Users & Region Forecast 2022 to 2032

Silicone Market Snapshot (2022 to 2023)

According to Future Market Insights research the global Silicone market is estimated to be valued at US$ 18.5 Billion in the year 2022 and is projected to grow at a CAGR of 6.7% from 2022 to 2032.

The rising demand for Silicone across a range of end-user sectors, including consumer goods, personal care, construction, and industrial process, is anticipated to drive the market over the projection period. By the end of the year 2032, the global Silicone market is projected to reach US$ 35.4 Billion.

Market Size (2021)

US$ 17.3 Billion

Market Size 2022

US$ 18.5 Billion

Market Size 2032

US$ 35.4 Billion

Value CAGR (2022 to 2032)


Silicones also referred to as poly-siloxanes, are synthetic polymers made of carbon, hydrogen, and other elements with repeating siloxane monomers - a chain of alternating Silicone and oxygen atoms - in their structure. It is a resilient synthetic substance made from Silicone that is used in polish production and plastic and cosmetic surgery. Due to their exceptional qualities, poly-siloxanes can be used in a variety of applications. It offers excellent water resistance, robust insulation, adaptability, stability, and aging resistance. Because of their anti-foaming properties, poly-siloxanes are also well-suited for industrial applications.

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Historic (2017 to 2021) Vs Forecast (2022 to 2032) Market Outlook for Global Silicone

The global Silicone market witnessed a CAGR of 6.3% during the historic with a market value of US$ 17.3 Million in 2021. However, as per the current estimates by FMI, the forecast growth outlook for Silicone is to remain around 6.8% from 2022 to 2032. This growth in demand is attributed to the growth in various end-use industries. The rise in demand for Silicone from the healthcare industry, automotive industry, and renewable energy sectors is expected to bolster the market growth in the projection period.

Along with this, the global silicone market is growing along with the growth in the automobile industry. Silicone is used in the automobile industry as a lubricant for brake components and in the insulation of spark plug wires to stop sparks and misfires. Gaskets for car engines are made from silicone sheets, and silicone rubber is utilized as an airbag sealant. Automotive silicones aid in lowering the overall vehicle weight, which lowers hazardous emissions and improves fuel economy. Demand for silicone from the automotive industry may be driven by rising auto manufacturing and stricter environmental rules for dangerous emissions.

Market Dynamics

Electronics Industry driving the demand for silicone

Silicone is becoming more useful in a variety of electronic applications because of its excellent thermal conductivity, ability to endure both high and low temperatures and flame-retardant properties. Primarily Silicone is utilized in semiconductor applications, electronics products, highly sensitive circuits, refrigerator wires, ignition wires, electronics components, and heater wires. The use of Silicone in electrical circuits provides strong insulation properties to the surfaces acting as heat, dust, and dirt protectors for screens of computers, televisions, aircraft displays, etc.

Due to the global expansion in demand for electronics, semiconductors, and consumer goods around the world, the demand for Silicone is anticipated to rise significantly over the projection period.

Government regulations on the usage of Silicone are likely to affect the market growth

The fluctuating prices of raw materials are the key concern affecting the growth of the silicone market. These fluctuations cause the increase in prices of silicones making it a less viable choice compared to its alternatives. For instance, in April 2022, Shin Etsu Chemicals Co. Ltd which primarily operates in the silicone business announced to increase in the prices of silicone goods by 10%.

Apart from this, government agencies are implementing strong regulations for the usage of silicones in the personal care industry. For instance, the United Kingdom Competent Authorities and the European Chemicals Agency (ECHA) have limited the usage of cyclosiloxanes D4 and D5 in cosmetics and personal care products. Such restrictions are expected to affect the market growth in the forecast period.

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Nikhil Kaitwade
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Segment-wise Analysis

How silicone elastomers are driving the growth of the silicone market?

Physical properties of elastomeric silicone are driving the demand from end-use segments

By product type, the elastomers segment dominates the silicone market owing to their diverse applications. Silicone elastomers are employed in the production of a wide variety of goods, including voltage line insulators, undergarments, sportswear, food storage containers, footwear, medical equipment, and implants. They are also used in the production of sealants.

In the healthcare segment, silicones have seen a sharp rise in demand owing to their physiological inertness property. Their medical applications include prosthetic devices, artificial heart valves, and blood transformation bags. Due to these wide applications and continuous growth in demand from end-use industries, the elastomer segment is anticipated to grow significantly in the forecast period.

What are the key end-use industries for Silicones?

Industrial processes and the construction sector together account for around 40% of the global silicone market

In 2021, the industrial process sector dominated the market with nearly one-fourth of the total market by value. Silicones are widely employed in many industrial processes for a variety of purposes including lubricants, antifoaming agents, paper manufacture, industrial coatings, and paint additives. Silicone is utilized in paints and coatings to provide improved durability, thermal resistance, and resistance to corrosion and chemicals to raise performance and lower maintenance costs for application on industrial infrastructure and machinery.

Similarly, silicones are very popular and widely used in the building & construction industry owing to their great strength and moisture resistance properties. Steel, concrete, marble, aluminum, glass, and polymers are just a few of the materials that can be combined with Silicone in a residential and commercial building. In addition, they are utilized in industrial buildings, roadways, bridges, and pipelines. Silicones are a feasible alternative to other materials because of their higher flexibility, which helps to reduce damage during the occurrence of low- to medium-intensity earthquakes. Rubber, grease, coatings, and sheets made of silicone are employed in the automobile sector.

Region-wise Analysis

Which region is leading the global silicone market by consumption?

The rapid industrial growth in the Asia Pacific region is propelling the demand for silicones

In terms of revenue share and CAGR, Asia Pacific (APAC) would continue to lead the global silicone industry. The established automotive and electronics industries in the area are the main drivers of market expansion. Electric vehicles (EV) and renewable energy are rapidly gaining popularity, opening potentially attractive business opportunities for silicone makers. Given that these nations have sizable manufacturing sectors China, Japan, India, and Australia are receiving a lot of attention from stakeholders. The cumulative growth in end-use industries like building & construction, health care, personal care, electronics & energy is propelling the demand for silicones in the Asia Pacific region.

How Silicone Market will grow in Europe?

Cosmetics, personal care & health care sectors boosting the consumption of silicones in Europe

Between 2022 and 2032, the silicone market in Europe is anticipated to expand at a considerable CAGR. The growing construction industry and projects in numerous economies, including France and Germany, among others, are expected to raise regional silicone demand throughout the forecast period. The market is also estimated to grow as a result of silicone's rising use in cosmetic implants in the healthcare industry. Additionally, Europe is one of the biggest marketplaces for personal care and cosmetics in the world. Cosmetics Europe estimates that the retail sales of cosmetics and personal care products in Europe were over USD 83 billion in 2021 and are increasing rapidly. This factor offers high opportunities for the expansion of the silicone industry in the near future.

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Market Competition

Prominent players operating in the Global Silicone market include Shin-Etsu, Ashland, Momentive, Kemira, Evonik, Wacker Chemie, Amul Polymers, Specialty Silicone Products, Inc., Supreme Silicones, Silchem Inc., Hutchinson, and others.

Numerous different competitors compete to become the market leaders in the highly competitive environment of the worldwide silicone industry. Due to the huge demand from diverse end users, companies must ensure they create silicones in according to the specifications of their end-use industries to stay ahead of their rivals. Also, many players are investing in research and development activities related to silicone for novel and undiscovered applications and end-uses while some players are expanding their geographical reach by expansion, partnerships, and collaborations with other regional players

  • In October 2021, to support the demand for silicones, Evonik Industries AG and Wynca collaborated through a joint venture to start a new fumed silica plant in Zhenjiang, China
  • In June 2020, for reducing the usage of platinum in Silicone release coatings, Shin-Etsu developed a new technology - Reduced-Platinum Reaction Curing System Technology.

Scope of the Report



Growth Rate

CAGR of 6.7 % from 2022 to 2032

Base Year for Estimation


Historical Data

2017 to 2021

Forecast Period

2022 to 2032

Quantitative Units

Revenue in USD Million, Volume in Tons, and CAGR from 2022 to 2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis

Segments Covered

  • Product Type
  • End User
  • Region

Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa

Key Countries Covered

  • USA
  • Canada
  • Mexico
  • Brazil
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • India
  • GCC Countries
  • Australia
  • Turkey
  • South Africa

Key Companies Profiled

  • Shin-Etsu
  • Ashland
  • Kemira
  • Evonik
  • Wacker Chemie
  • Amul Polymers
  • Specialty Silicone Products Inc.
  • Supreme Silicones
  • Silchem Inc.
  • Hutchinson

Customization & Pricing

Available upon Request

Key Segments Profiled in the Silicone Market Report Silicone Market

By Product Type, Silicone Market is segmented as:

  • Fluids
  • Resins
  • Elastomers
  • Others

By End User, Silicone Market is segmented as:

  • Construction
  • Automotive
  • Industrial Application
  • Electronics
  • Personal Care
  • Medical & Healthcare
  • Energy
  • Others

By Region, Silicone Market is segmented as:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

Frequently Asked Questions

In 2021, the value of the Global Silicone market reached over US$ 17.3 Billion.

During the forecast period, the Global Silicone market is estimated to expand at a CAGR of 6.7% from 2022 to 2032.

The Global Silicone market is projected to reach US$ 35.4 Billion by the end of 2032.

Asia Pacific region is projected to lead the global Silicone market in the forecast period.

The key players operating in the Global Silicone market are Shin-Etsu, Ashland, Kemira, Evonik, and Wacker Chemie.

Table of Content


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Nikhil Kaitwade
Nikhil Kaitwade
Principal Consultant
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