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The silicones market size is forecast to increase by USD 8.76 billion, at a CAGR of 7.32% between 2023 and 2028.
Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market showcases a dynamic and evolving landscape, with ongoing advancements and innovations shaping its various sectors. Silicone fillers play a crucial role in enhancing the properties of silicone resins, while medical applications continue to expand, driven by the biocompatibility and biodegradability of these materials. Silicone extrusion processes enable the production of diverse shapes and sizes, from tubing to profiles, while sealants ensure airtight and watertight bonds. Surface treatment and coatings enhance silicone's durability and resistance to environmental factors, such as heat, weather, and chemicals. Dielectric properties make silicones indispensable in the electronics industry, while anti-fouling and release agents cater to the maritime sector.
Silicone fluids serve as essential lubricants and coolants, and their chemical resistance is a key factor in numerous industrial applications. Adhesives, gels, rubbers, and elastomers expand the versatility of silicones, catering to diverse industries, including automotive, construction, and aerospace. The continuous pursuit of sustainability drives research into biodegradable silicones and eco-friendly production methods. Silicones' adaptability and performance make them a valuable asset in numerous industries, with ongoing advancements ensuring their relevance and growth in the market.
The silicones industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The elastomers segment is estimated to witness significant growth during the forecast period.
Silicone elastomers, a type of high-performance polymer, are manufactured by combining straight-chained, reactive, and linear polymer molecules with crosslinkers, reinforcements, and catalysts. This process results in elastomers with superior absorption, elasticity, and tear strength. Silicone elastomers come in various forms, including room-temperature vulcanized liquid silicone rubber and high-temperature vulcanized or heat-cured rubber. The selection of elastomer type depends on the characteristics of the straight-chain molecules and processing temperature. Silicone elastomers exhibit desirable properties, such as weatherability, thermal conductivity, heat and cold resistance, flame retardancy, electrical conductivity, gas permeability, vibration absorption, radiation resistance, tensile and tear strength, and ozone and UV resistance.
These properties make silicone elastomers suitable for diverse applications, including automotive, construction, electronics, healthcare, and aerospace industries. Crosslinking and vulcanization processes enhance the mechanical properties of silicone elastomers. Crosslinking creates a three-dimensional network within the elastomer, while vulcanization cures the elastomer to improve its durability and resistance to environmental stresses. Additives, such as fillers, pigments, and plasticizers, can be incorporated into silicone elastomers to modify their properties. For instance, silicone fillers enhance the elastomer's mechanical strength, while plasticizers improve its flexibility. Silicone elastomers can be processed using various techniques, including injection molding, calendaring, extrusion, casting, and transfer molding.
These processing methods enable the production of complex shapes and components with consistent dimensions and high precision. Silicone elastomers' biocompatibility, hydrophilicity, and water repellency make them suitable for medical applications. Their biodegradability and sustainability attributes are gaining increasing attention in the industry, driving the development of eco-friendly silicone elastomers. Silicone elastomers' dielectric properties, anti-fouling properties, and release agents make them valuable in the electronics industry. Their excellent chemical resistance and adhesion properties make them suitable for various industrial applications. In summary, silicone elastomers' versatile properties and wide range of applications make them an essential component in various industries.
Their production involves the use of additives, fillers, and various processing techniques, ensuring their high performance and durability. The ongoing research and development efforts in the field of silicone elastomers aim to enhance their properties and expand their applications.
The Elastomers segment was valued at USD 7.24 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 41% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market is experiencing significant growth due to the increasing demand from various industries such as industrial processing, construction, automobile, and personal care. The market's expansion is driven by the unique properties of silicones, including hydrophobicity, heat resistance, biocompatibility, and chemical resistance. In the manufacturing sector, particularly in Asia Pacific (APAC), the growing number of companies is fueling the demand for silicone-based industrial lubricants, coatings, and sealants. China, Japan, India, Australia, South Korea, and Indonesia are the major contributors to the APAC market's growth. During the forecast period, APAC is anticipated to register the fastest growth rate due to the increasing demand in rapidly developing economies.
Silicone resins, gels, rubbers, and polymers are used extensively in various applications such as silicone injection molding, crosslinking, calendaring, extrusion, casting, and transfer molding. Additionally, the market is witnessing an increasing focus on sustainability and biodegradability, leading to the development of eco-friendly silicone products. Silicone surface treatment, coatings, and sealants are used to enhance the dielectric properties, anti-fouling properties, anti-static properties, and water repellency of various materials. Silicone adhesives and adhesion promoters are essential in various industries, including medical applications, where biocompatibility is crucial. Overall, the market's growth is driven by its versatile applications, unique properties, and increasing demand from various industries.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market encompasses the production, distribution, and application of silicone-based materials, which offer exceptional properties such as durability, heat resistance, and water repellency. These versatile polymers are utilized extensively in various industries, including automotive, construction, electronics, healthcare, and cosmetics. Silicone rubber, sealants, adhesives, coatings, and elastomers are key product categories. Applications range from automotive parts, such as gaskets and hoses, to building insulation, solar panel encapsulants, and semiconductor manufacturing. Silicone's unique properties make it an indispensable component in numerous industries, ensuring its continued growth and demand in the global market.
The silicones market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the silicones market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, silicones market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Ashland Global Holdings Inc. - The company specializes in providing a variety of silicone materials, formulated through silicone elastomers and emulsions. These offerings are optimized for fully automated industrial applications, including Liquid Injection Molding Systems. The diverse base chemistries cater to the specific demands of automated manufacturing processes, ensuring efficiency and consistency.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Silicones Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
183 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.32% |
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Market growth 2024-2028 |
USD 8.76 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.74 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, and Rest of World (ROW) |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this silicones market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
13 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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