Global Silicone Polymer Market Insights Forecasts To 2030
- The global silicone polymer market was valued at USD 18.59 Billion in 2021.
- The market is growing at a CAGR of 6.4% from 2022 to 2030
- The global silicone polymer market is expected to reach USD 35.90 Billion by 2030
- Europe is expected to grow the fastest during the forecast period
Get more details on this report -
The global silicone polymer market is expected to reach USD 35.90 Billion by 2030, at a CAGR of 6.4% during the forecast period 2022 to 2030. The polycarbonate market has grown due to the increasing demand for sustainable polymers with excellent impact and temperature resistance properties in various industries like medical device, packaging, automotive etc.
Silicone is an inorganic polymer. Silicone exhibits excellent characteristic properties which are responsible for the increased demand for silicone polymers in various sectors like industrial process, medical, pharmaceutical, personal care, electronics etc. Silicone polymers are extensively used in the semiconductor sector because of their atomically stable structure. Silicone polymers can block electricity and conduct electricity which makes them an ideal material for the semiconductors industry. Apart from this silicone polymers market is also experiencing huge demand from the electronics potting segment because silicone polymers possess high dielectric strength, thermal stability, and water-repellence. The water-repellence property of silicone is boosting the demand for silicone polymers in the paint and coatings sector. The COVID-19 outbreak affects the silicone polymer market, the sudden rise in the covid-19 cases and lockdowns across the world hinders the growth of the silicone market.
The government suspended industrial production and manufacturing operations due to strict restrictions and reduced consumer demand. Furthermore, the challenges during the pandemic result in the high cost of raw materials, which is one of the main restraining factors hindering the market growth. In addition, the growing demand for lightweight automobile parts and the increase in research and development activities are expected to increase silicone polymer demand during the forecast period. Silicone polymers are also gaining huge attention from the personal care sector, silicone gel sheets are used to prevent scars of new wounds and to reduce the scars.
Global Silicone Polymer Market Report Coverage
|Market Size in 2020:||USD 18.59 Billion|
|Forecast Period 2022-2030 CAGR:||6.4 %|
|2030 Value Projection:||USD 35.90 Billion|
|Historical Data for:||2019-2020|
|No. of Pages:||210|
|Tables, Charts & Figures:||124|
|Segments covered:||By Type, By End User, By Region|
|Companies Covered:||Dow Inc, Amul Polymers, Elkem ASA, Evonik Industries AAG, Supreme Silicones, CHT Group, Zhejiang Xinan Chemical Industries Co. Ltd., Momentive, Kaneka, Wynca Group, and Emerald Performance Materials.|
|Growth Drivers:||Market expansion is anticipated to be fueled by the rising demand for silicone polymers across various end-user sectors, including industrial process, building & construction, personal care & consumer goods, and automotive.|
|Pitfalls & Challenges:||During the forecast period, strict restrictions on silicone polymer applications are anticipated to impede market growth.|
Get more details on this report -
This research report categorizes the market for global silicone polymer based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global silicone polymer market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global silicone polymer market sub-segments.
- Driver - Growing Demand
Market expansion is anticipated to be fueled by the rising demand for silicone polymers across various end-user sectors, including industrial process, building & construction, personal care & consumer goods, and automotive. Excellent exceptional qualities, including chemical stability, adaptability, and high-temperature resistance, are all possessed by silicone polymers. In the aforementioned end-user sectors, the demand for silicone polymers is anticipated to be driven by these characteristics.
- Restraint - Strict Regulations
During the forecast period, strict restrictions on silicone polymer applications are anticipated to impede market growth. For instance, EU regulators are considering a REACH limitation proposal for placing D4, D5, and D6 as chemicals in the Consumer and Professional Markets. On the European market, silicone polymers would be subject to limitations. Additionally, the absence of global regulations governing the production and use of silicone polymer is anticipated to impede market expansion during the forecast period.
- Opportunity - Increase Usage
Over the forecast period, increasing usage of silicone polymers in high-end applications such as electronics, aerospace, renewable energy, and electric cars is also anticipated to drive up demand for silicone polymers.
- Challenge- Several Rules
Different rules apply to the use of silicone polymer in each nation. Companies struggle to comply with these national rules, discouraging investment in the market and restraining market expansion.
- In 2021, the fluids segment accounted for the largest share of the market, with 27.8% and market revenue of 5.16 billion.
Based on type, the silicone polymer market is categorized into gels, elastomers, fluids, resins and others. In 2021, the fluids segment accounted for the largest share of the market, with 27.8% and a market revenue of 5.16 billion. The increased demand for fluids is due to their excellent properties such as no coagulation and high compressibility makes them suitable for the personal care industry. Continuous research and developments are going on in order to obtain new and innovative fluid-based products for the personal care sector.
- In 2021, the industrial process segment accounted for the largest share of the market, with 15.7% and a market revenue of 2.91 billion.
Based on the end user, the silicone polymer market is categorized into energy, pharmaceutical, industrial process, aerospace, cookware, automotive, medical, electronics, personal care, construction and others. In 2021, the industrial process segment accounted for the largest share of the market, with 15.7% and a market revenue of 2.91 billion. The demand for silicon-based products and materials because of their outstanding properties is increasing in industrial processes like anti-foaming, offshore drilling, thermal sealing etc. is boosting the growth of the silicone polymer market.
Regional Segment Analysis of the Silicone Polymer Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Get more details on this report -
North America emerged as the largest market for the global silicone polymer market, with a market share of around 38.20% and 18.59 billion of the market revenue in 2021.
- In 2021, Asia Pacific emerged as the largest market for the global silicone polymer market, with a market share of around 38.20% and 18.59 billion of the market revenue. Asia Pacific is expected to be the largest market. The expansion in the region's electronics, automotive and personal care industries accounts for the largest part of the growth of the silicone polymer market, which will keep on increasing in future also.
- Europe market is expected to grow at the fastest CAGR between 2021 and 2030. The increased demand for silicone-based- equipment and parts in the automotive sector propels the growth of the silicone polymers market in the forecast period.
The report offers the appropriate analysis of the key organizations/companies involved within the global silicone polymer market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Dow Inc
- Amul Polymers
- Elkem ASA
- Evonik Industries AAG
- Supreme Silicones
- CHT Group
- Zhejiang Xinan Chemical Industries Co. Ltd.
- Wynca Group
- Emerald Performance Materials
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In December 2019, A new manufacturing line for silicone rubbers was inaugurated by Elkem silicones in China. The new line will boost production and helps in the expansion of business.
- In May 2020, Shin-Etsu Chemical Co. Ltd. launched “Reduced-Platinum Reaction Curing System Technology” with this technology, platinum used in silicone-release coatings is reduced by approximately half.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global silicone polymer market based on the below-mentioned segments:
Global Silicone Polymer Market, By Type
Global Silicone Polymer Market, By End User
- Industrial Process
- Personal Care
Global Silicone Polymer Market, Regional Analysis
- North America
- THE US
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Silicone Polymer market?As per Spherical Insights, the size of the Silicone Polymer market was valued at USD 18.59 billion in 2022 to USD 35.90 billion by 2030.
What is the market growth rate of the Silicone Polymer market?The Silicone Polymer market is growing at a CAGR of 6.4% from 2022 to 2030.
Which country dominates the Silicone Polymer market?Asia Pacific emerged as the largest market for Silicone Polymer.
Who are the key players in the Silicone Polymer market?Key players in the Silicone Polymer market are Dow Inc, Amul Polymers, Elkem ASA, Evonik Industries AAG, Supreme Silicones, CHT Group, Zhejiang Xinan Chemical Industries Co. Ltd., Momentive, Kaneka, Wynca Group, and Emerald Performance Materials.
Which factor drives the growth of the Silicone Polymer market?Increased demand in the automotive sector is expected to drive the market's growth over the forecast period.
Need help to buy this report?