Silicones and Siloxanes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032

Silicones and Siloxanes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032

The global silicones and siloxanes market size reached US$ 23.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 37.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during 2024-2032.

Siloxanes refer to volatile organosilicon compounds that are composed of recurring silicon-oxygen (Si-O) bonds, occurring in either cyclic or linear form. They are highly stable and physiologically inert, and have lubricating properties. Silicones are formulated from siloxanes and can take a variety of physical forms ranging from solids and semi-viscous pastes to liquids and oils. Due to their advantageous characteristics such as flexibility, resistance to moisture, stability, inertness, permeability to gases, etc., silicones find a wide array of industrial applications.

Global Silicones and Siloxanes Market Drivers:
The chemical structure of silicones allows them to be produced in a number of variations, while the organic groups bound to the silicones pave the way for a diverse range of modifications. This variability allows the usage of silicones in a variety of products such as greases, release agents, antifoam agents, paint additives, hydrophobizing agents, etc.
Siloxanes (silicones) are well tolerated by humans and, therefore, form an integral part of innovative methods of treatment, health care and nursing. Alkylsiloxanes, especially the dimethylsiloxanes, find extensive usage in emulsions, antifoams and pastes on account of their low surface tension, high surface activity, good spreading power, chemical inertness and thermal stability. Liquid silicone is often used as a lubricant like waterproof sealant which is used in bathrooms and window fittings, whereas solid silicone rubber has a wide array of applications ranging from cake baking to internal sanitary protection.
As silicones provide a strong, durable, and weather- and UV-resistant seal with excellent adhesion, they are employed in the production of various construction materials. Apart from this, silicones are used for manufacturing polyurethane foam for building insulation, increasing building energy efficiency whilst hydrophobic properties of silicone coatings protect the external walls from weather damage.
Silicone polymers and cyclic siloxanes find applications in the personal care sector as a solvent in deodorants, hair, skin and sun care products, and make-up. This can be attributed to the benefits offered by them such as low skin irritation, low surface tension, anti-foaming properties and volatility. An increase in personal grooming has escalated the demand for cosmetics in the recent years. This is expected to facilitate the growth of the silicones and siloxanes market.
Earlier, the consumption of silicone products was largely confined to the developed countries. However, economic development, inflating income levels and improving standards of living have stimulated the demand for silicone-based products in the emerging countries.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global silicones and siloxanes market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on type and application.

Silicones Market

Breakup by Type:

Elastomers
Fluids
Resins
Gels

Amongst these, elastomers account for more than a third of the total market share due to their non-reactive nature. This helps them to find applications in cooking, baking, and in the production of footwears, undergarments and cosmetics.

Breakup by Application:

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

Currently, industrial applications represent the largest segment since silicones are used as RTV sealants and anti-foaming agents owing to their resistance to high temperature and pressure.

Siloxanes Market

Breakup by Type:

Linear
Cyclic

Linear siloxanes dominate the market, accounting for the largest market share. Dimethicones, a form of linear siloxane, are used as a medication to treat minor skin irritations. Apart from this, these siloxanes are majorly used as intermediates in the manufacturing of silicones.

Breakup by Application:

Silicones
Other Applications

A dominant share of siloxanes is employed in the production of silicones which are further used in various industries.

Regional Insights:

Asia-Pacific
Europe
North America
Central and South America
Middle East and Africa

On a geographical front, Asia Pacific enjoys the leading position in the silicones and siloxanes market on account of thriving construction and automotive industries, supported by surging population, rapid urbanisation and mounting disposable incomes. In addition, availability of raw materials and abundance of labour have created a positive outlook for the market growth.

Competitive Landscape:
The market is concentrated in nature with the presence of a handful of players who account for the majority of the total production. Some of the leading players operating in the market are:

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

This report provides a deep insight into the global silicones and siloxanes market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the silicones and siloxanes market in any manner.

Key Questions Answered in This Report

1. What was the size of the global silicones and siloxanes market in 2023?
2. What is the expected growth rate of the global silicones and siloxanes market during 2024-2032?
3. What are the key factors driving the global silicones and siloxanes market?
4. What has been the impact of COVID-19 on the global silicones and siloxanes market?
5. What is the breakup of the global silicones market based on the type?
6. What is the breakup of the global silicones market based on the application?
7. What is the breakup of the global siloxanes market based on the type?
8. What is the breakup of the global siloxanes market based on the application?
9. What are the key regions in the global silicones and siloxanes market?
10. Who are the key players/companies in the global silicones and siloxanes market?