Global Silicones and Siloxanes Market Report and Forecast 2024-2032

Global Silicones and Siloxanes Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global silicones market reached a volume of about 2.75 million tons in 2023, whereas the global siloxanes market approximated a volume of nearly 3.48 million tons in 2023. Aided by their unique chemical properties and adaptability, the global silicones market is projected to further grow at a CAGR of 5.3% between 2024 and 2032 to reach a volume of 3.73 million tons by 2032. Meanwhile, the global siloxanes market is anticipated to further grow at a CAGR of 6.2% in the forecast period of 2024 and 2032, to attain a volume of about 4.96 million tons by 2032.

Silicones and siloxanes, commonly derived from quartz and sand, are synthetic polymers known for their versatile characteristics including flexibility, water resistance, low toxicity, and thermal stability. These compounds find their utility in a plethora of products, spanning from medical devices, cosmetics, and personal care items to automotive, electronics, and construction materials.

The silicones and siloxanes market demand is primarily driven by the burgeoning automotive and electronics industries. As manufacturers seek materials that are durable, lightweight, and resistant to varying conditions, silicones and siloxanes have emerged as the materials of choice. Their heat resistance and insulating properties make them particularly valuable in electronic devices, ensuring protection and longevity.

Additionally, the booming construction sector has extensively incorporated silicones and siloxanes in sealants, adhesives, and coatings, owing to their ability to offer weather resistance, durability, and flexibility. Their application ensures longevity and energy efficiency in buildings, further bolstering silicones and siloxanes market growth.

The cosmetic and personal care industry too has displayed an increased affinity for silicones and siloxanes. Their properties of enhancing spreadability, adding shine, and providing a silky texture make them indispensable in products like lotions, hair care products, and cosmetics. Furthermore, they play a pivotal role in medical applications, where their biocompatibility and flexibility make them ideal for implants, medical tools, and devices.

Emerging technological advancements have resulted in the creation of newer and more efficient forms of silicones and siloxanes, thus expanding their potential applications. Innovations like liquid silicone rubber (LSR) are gaining traction, especially in the healthcare sector, due to their biocompatibility and resilience.

Furthermore, the rise of research and development activities in the sector promises the emergence of innovative applications and products. Investments in understanding the intricate properties of silicones and siloxanes and tailoring them for specific applications can be anticipated, further influencing the silicones and siloxanes market outlook.

Market Segmentation

The silicones market can be divided based on type, application, and region.

Market Breakup by Type

• Elastomers
• Fluids
• Resins
• Gels

Market Breakup by Application

• Industrial Applications
• Construction Materials
• Home and Personal Care
• Transportation
• Energy
• Healthcare
• Electronics
• Others

The siloxanes market can be divided based on type, application, and region.

Market Breakup by Type

• Linear
• Cyclic

Market Breakup by Application

• Silicones
• Others

Market Breakup by Region

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

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global silicones and siloxanes market. Some of the major players explored in the report by Expert Market Research are as follows:

• Dow Chemical Company
• Wacker Chemie AG
• Momentive Performance Materials Inc.
• Shin-Etsu Chemical Co., Ltd.
• Elkem Silicones
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.