Silicone market
Silicones are polymers consisting of synthetic compounds with repeating units of siloxane. Siloxane is a chain of alternating silicon and oxygen atoms with carbon and hydrogen bonds. Silicone offers properties such as; high binding capacity, radiation and water resistance, tear and tensile strength, transparency and good colouring. Silicone rubber, silicone caulk, silicone oil, silicone resin and silicone grease are some key forms of silicone.
The global silicone market was valued at USD 15.0 billion in 2015 and is expected to reach USD 20.0 billion in 2021, growing at a CAGR of 5.1%.
The silicone market is expected to see significant growth in the coming years, driven by increasing demand for construction and building across the globe. The growing and emerging chemical and automotive industries, especially in Asia Pacific region, is also likely to drive the demand for silicone. In addition, the changing dynamics of research and development for product improvement by the major players are likely to open growth opportunities for the market in the near future. However, the unstable prices of raw materials such as methyl chloride and silicone metal is expected to impede growth.
Based on the type of silicone, the global silicone market is segmented into; resins, elastomers, gels, fluids and other products. Elastomers was the largest segment of global silicone market in 2015, accounting for 37.13% of the total market. Fluids is one of the fastest growing segments due to use in the automotive and transportation industry. In addition, the increase in consumption of silicone in medical and personal care is expected to boost overall demand.
Applications across a wide range of industries includes; the chemical industry, building and construction, plastics, paper, automotive and transportation, textile, medical and personal care, electrical and electronics and others.
Building and construction was the leading segment of the market in 2015, accounting for more 25% of the market. This is attributed to growth in the construction industry across the globe. Emerging industrialisation and urbanisation are likely to propel demand for silicone in the construction industry even further over the years to come. The chemical industry is the fastest growing segment.
The Asia-Pacific region dominated the market with the largest share of silicone consumption globally in 2015. China was the largest market among Asian countries. The Asia Pacific was followed by Europe and North America. Europe and the U.S. are likely to witness moderate growth within the forecast period. Latin America, the Middle East, and Africa will also show decent growth in the coming years.
Some of the major players in global silicone market are Bluestar Silicones, BASF SE, Emerald Performance Materials LLC, Momentive Performance Materials Inc., Zhejiang Xinan Chemical Industry Group Co. Ltd, Shin-Etsu Chemical Company, Specialty Silicone Products Inc, Nusil Technology, Wacker Chemie AG, The DOW Corning Corporation, Rogers Corporation, Kaneka Corporation and Jiangsu Hongda New Material Co. Ltd.
Featured articles and news
Grenfell Tower Principal Contractor Award notice
Tower repair and maintenance contractor announced as demolition contractor.
Passivhaus social homes benefit from heat pump service
Sixteen new homes designed and built to achieve Passivhaus constructed in Dumfries & Galloway.
CABE Publishes Results of 2025 Building Control Survey
Concern over lack of understanding of how roles have changed since the introduction of the BSA 2022.
British Architectural Sculpture 1851-1951
A rich heritage of decorative and figurative sculpture. Book review.
A programme to tackle the lack of diversity.
Independent Building Control review panel
Five members of the newly established, Grenfell Tower Inquiry recommended, panel appointed.
Welsh Recharging Electrical Skills Charter progresses
ECA progressing on the ‘asks’ of the Recharging Electrical Skills Charter at the Senedd in Wales.
A brief history from 1890s to 2020s.
CIOB and CORBON combine forces
To elevate professional standards in Nigeria’s construction industry.
Amendment to the GB Energy Bill welcomed by ECA
Move prevents nationally-owned energy company from investing in solar panels produced by modern slavery.
Gregor Harvie argues that AI is state-sanctioned theft of IP.
Heat pumps, vehicle chargers and heating appliances must be sold with smart functionality.
Experimental AI housing target help for councils
Experimental AI could help councils meet housing targets by digitising records.
New-style degrees set for reformed ARB accreditation
Following the ARB Tomorrow's Architects competency outcomes for Architects.
BSRIA Occupant Wellbeing survey BOW
Occupant satisfaction and wellbeing tool inc. physical environment, indoor facilities, functionality and accessibility.
Preserving, waterproofing and decorating buildings.