logo
logo
Sign in

Silicone Market with Size, Share and Growth estimated to reach up to USD 23.4 Billion by 2026

avatar
Sam Karan
Silicone Market with Size, Share and Growth estimated to reach up to USD 23.4 Billion by 2026

The report "Silicone Market by Type (Elastomers, Fluids, Resins, Gels), End-use Industry (Industrial Process, Building & Construction, Personal Care & Consumer Products, Transportation, Electronics, Medical & Healthcare, Energy), Region - Global Forecast to 2026" The global silicone market size is expected to grow from USD 16.7 million in 2021 to USD 23.4 billion by 2026, at a CAGR of 7.0% during the forecast period. The major factors driving the silicone industry include the superior properties of the material and its high demand in different end-use industries, such as building & construction, personal care & consumer products, transportation, and electronics. Further, the booming demand from the medical & healthcare industry owing to the COVID-19 pandemic is expected to drive the market.

Get PDF brochure of the report: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=709

Browse 209 market data Tables and 40 Figures spread through 212 Pages and in-depth TOC on "Silicone Market

By type, the elastomers segment is estimated to lead the silicone market in 2020, in terms of value & volume.

The silicone market has been segmented based on type into elastomers, fluids, resins, and gels & other products. Among these types, the elastomers segment accounted for the largest share of the market in 2020 and is likely to witness significant growth during the forecast period. The market growth in this segment is attributed to its increasing use in various products, including voltage line insulators, cooking, baking, and food storage products; undergarments, sportswear, and footwear; electronics; medical devices, and implants; and in household gaskets and O-rings. The physiological inertness of silicone elastomers makes them suitable for use in the healthcare industry, especially for blood transfusions and in artificial heart valves and various prosthetic devices.

By end-use industry, the industrial process segment is estimated to lead the silicone market in2020, in terms of value & volume.

The industrial process is the largest end-use industry for silicone in 2020 in terms of value and volume. Silicones are extensively used in numerous industrial processes. In industrial processes, they are widely used in a plethora of applications such as lubricants, anti-foaming agents in offshore drilling and paper production, industrial coatings, and paint additives. Silicones have become highly popular due to their high-performance characteristics and are replacing other conventional materials in several industrial applications.

The APAC region is projected to account for the largest share in the silicone market during the forecast period.

The APAC region is projected to lead the silicone market in terms of both value and volume from 2021 to 2026. The growth in this region can be attributed to the rapidly increasing demand for silicone from the end-use industries, especially electronics, building & construction, personal care & consumer products, and transportation.  Moreover, several silicone manufacturers, such as Wacker Chemie AG (Germany) and Shin-Etsu Chemical Co. Ltd., (Japan) are setting up or expanding their manufacturing facilities in this region to leverage low manufacturing and labor costs and high demand from end-use industries, thereby boosting the demand for silicone in the region.

The Dow Chemical Company (US), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co. Ltd. (Japan), Elkem ASA (Norway), Momentive (US), KCC Corporation (South Korea), Evonik Industries AG (Germany), Gelest Inc. (US), and Innospec Inc. (US), are the leading silicone manufacturers, globally.

Early buyers will receive 10% free customization on this report.

Don't miss out on business opportunities in Silicone Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow.

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=709

About MarketsandMarkets 

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. 

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA: 1-888-600-6441 
[email protected]

collect
0
avatar
Sam Karan
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more