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Silicone polymers are manufactured as fluids, resins, or elastomers, depending on the molecular weight of the polymers and the degree to which the polymer chains are interlinked. Silicone polymers make excellent lubricants and hydraulic fluids, as well as emulsions for imparting water repellency to textiles, paper, and other materials. Silicone polymers are used in protective coatings and electrically insulating varnishes and for laminating glass cloth.

The global silicone polymer market was valued at US$ 13,800.00 Mn in 2020, and is expected to reach US$ 19,329.78 Mn by 2028, exhibiting a CAGR of 5.1% during the forecast period.

Drivers:

The growing demand for silicone polymers in various end-user industries including industrial process, building & construction, personal care & consumer products, and automobile is expected to drive market growth. Silicone polymers possess excellent superior properties such as chemical stability, versatility, and high resistance to temperature. These properties are expected to drive the demand for silicone polymers in the aforementioned end-user industries. Additionally, growing use of silicone polymers in the various high end applications such as electronics, aerospace, renewable energy, and electric vehicles is expected to boost up the demand for silicone polymers over the forecast period.

Figure 1. Global Silicone Polymer Market Revenue Share (%), By Region, 2020

Silicone Polymer  | Coherent Market Insights

Among region, Asia Pacific held highest market share of 42.3% in 2020, and is expected to retain its dominance during forecast period. The expanding construction sector in various countries such as China, Japan, India, Vietnam, Thailand, Australia, and others is expected to augment the silicone polymer demand over the forecast period. The increasing supportive measures such as tax breaks, incentives, and subsidies undertaken by several governments is expected to boost the growth of the construction sector in the region, which in turn is expected to boost the product demand during forecast period.

Market Restraints

Stringent regulations pertaining to applications of silicone polymer is expected to restrain the market growth during forecast period. For instance, EU regulators considers a REACH restriction proposal for the placing on the Consumer and Professional markets of D4, D5, and D6 as substances. The restriction would apply to silicone polymers on the European market. Moreover, lack of universal directives pertaining to manufacturing & applications of silicone polymer is expected to restrain the market growth during forecast period. Every country has different directives for applications of silicone polymer. Companies find it difficult to cope with these country wise regulations, which in turn discouraging the investment in the market and restraining the market growth.

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Silicone Polymer Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 13,800.00 Mn
Historical Data for: 2017, 2018, and 2019 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 5.1% 2028 Value Projection: US$ 19,329.78 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, and Rest of Asia Pacific
  • Middle East: GCC Countries and Rest of Middle East  
  • Africa: North Africa, Central Africa, and South Africa
Segments covered:
  • By Type: Elastomers (High-Temperature Vulcanized (HTV), Liquid Silicone Rubber (LSR), Room Temperature Vulcanized (RTV), Fluids (Straight Silicone Fluids, Modified Silicone Fluids), Resins, Gels, and Others
  • By End-Use Industry: Industrial Process, Building & Construction, Transportation, Personal Care & Consumer Products, Electrical & Electronics, Pharmaceutical, Energy, and Others (Automobiles etc.)
Companies covered:

Dow Inc., Elkay Chemicals Pvt. Ltd., Elkem ASA, Evonik Industries AG, Gelest Inc., Innospec Inc., KCC Corporation, Reiss Manufacturing Inc., Shin-Etsu Chemical Co., Ltd., Siltech Corporation Inc., Supreme Silicones, and Wacker Chemie AG

Growth Drivers:
  • Superior properties of silicone
  • High demand for silicone in the electronics industry
Restraints & Challenges:
  • Stringent regulations and lack of universal directives pertaining to applications of silicone polymer

Market Trends

Growing demand for silicone polymer in medical applications owing to their low toxicity, low risk of unfavourable biological reactions is expected to boost the market growth during the forecast period. Moreover, the increasing demand for lightweight automobile parts and growing research and development activities to develop new and innovative products is expected to propel overall industrial growth over the forecast period. Furthermore, companies are focused on adopting aggressive marketing strategies to expand its market footprints along with enhancing customer base through developing new distribution channel is expected to grow the premium potting mix market during the forecast period.

Figure 2. Global Silicone Polymer Market Revenue Share (%), By End-Use Industry, 2020

Silicone Polymer  | Coherent Market Insights

On the basis of end-use industry, in 2020, the industrial process end use industry segment held 25.0% market share. The increasing demand for silicone polymers in various industrial process such as offshore drilling, paper making, leather packaging, labels, and airbags, industrial coatings, and antifoaming is expected to drive the demand for silicone polymer over the forecast period.

Global Silicone Polymer Market - Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic had limited impact on silicone polymer market. According to OECD (Organization for Economic Co-operation and Development), close to 800 measures were undertaken by governments in 54 developed and emerging countries, aimed to avoid aggravating disruptions, provide relief to affected producers and consumers, or to bolster the recovery of affected production activities. The pandemic is expected to have short-term impact on growth of the global silicone polymer market. The pandemic is expected to boost investment in silicone polymer, owing to interest in food security and sustainable crop production, and for ensuring robust supply chains.

Silicone polymers are also called as polysiloxanes. Silicone polymers have an alternating -Si-O- type structure. This basic structural unit is found in many rocks and minerals in nature including common sand. Silicone polymers are diverse class of fluids, resins, or elastomers based on polymerized siloxanes. Silicone polymers are used in various end use industries such as industrial process, electrical & electronics, building & construction, transportation, personal care & consumer products, electrical & electronics, and pharmaceutical.

Market Dynamics

Silicone polymers are an important class of inorganic polymers that find many industrial uses. The silicon polymers have the general structure [Si (R2)-O] - where R = -CH3 is called poly (dimethyl siloxane). Silicone polymers possess excellent chemical properties such as outstanding temperature and oxidative stability, excellent low temperature flexibility, and high resistance to weathering and chemicals. These polymers also have low surface tension and are capable of wetting most surfaces. Thus, aforementioned factors are expected to boost the demand for silicone polymers market.

The growing demand for silicone polymers in various applications is expected to boost the consumption of silicone polymers during forecast period. Moreover, many market players are focusing on partnership native vegetable growers for developing health food products is expected to boost the demand for silicone polymers. For instance, in August 2020, Wacker Chemie AG extended a partnership with H.M. Royal, a distributor of specialty chemicals and ingredients, for the distribution of SILPURAN, a Liquid Silicone Rubber (LSR) and High Consistency Rubber (HCR), specifically designed for medical application. This partnership will enable the company to cater to the medical industry more efficiently.

The growing demand for silicone polymers in textiles, paper, leather packaging, labels, and airbags applications is expected to propel the demand for silicone over the forecast period. In the aforementioned applications, silicone is used as a solvent, adhesive, wetting agent, and anti-foaming agent. Thus, growing demand for silicone polymers is expected to boost the market growth during forecast period.

Key features of the study:

  • This report provides an in-depth analysis of the global silicone polymers market, its market size (US$ Million & KT) and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year
  • It elucidates potential revenue opportunity across different segments and explains an attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global silicone polymers market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Dow Inc, Elkay Chemicals Pvt. Ltd., Elkem ASA, Evonik Industries AG, Gelest Inc., Innospec Inc, KCC Corporation, Reiss Manufacturing Inc., Shin-Etsu Chemical Co., Ltd., Siltech Corporation Inc., Supreme Silicones, and Wacker Chemie AG.
  • Insights from this report would allow marketers and management authorities of companies to make an informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global silicone polymers market report caters to various stakeholders in this industry including investors, suppliers, silicone polymers manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global silicone polymers market

Detailed Segmentation:

  • Global Silicone Polymers Market, By Type:
    • Elastomers
      • High-Temperature Vulcanized (HTV)
      • Liquid Silicone Rubber (LSR)
      • Room Temperature Vulcanized (RTV)
    • Fluids
      • Straight Silicone Fluids
      • Modified Silicone Fluids
    • Resins 
    • Gels
    • Others (Adhesives, Emulsions, etc.)
  • Global Silicone polymers Market, By End-Use Industry :
    • Industrial Process 
    • Building & Construction
    • Transportation
    • Personal Care & Consumer Products
    • Electrical & Electronics
    • Pharmaceutical
    • Energy
    • Others (Automobiles etc.)
  • Global Silicone polymers Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Country:
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • South Korea
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East
      • By Country:
        • GCC Countries
        • Rest of Middle East
    • Africa
      • By Country/Region:
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • Dow Inc. *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Elkay Chemicals Pvt. Ltd.
    • Elkem ASA
    • Evonik Industries AG
    • Gelest Inc.
    • Innospec Inc.
    • KCC Corporation
    • Reiss Manufacturing Inc.
    • Shin-Etsu Chemical Co., Ltd.
    • Siltech Corporation Inc.
    • Supreme Silicones
    • Wacker Chemie AG

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global silicone polymer market is expected to surpass US$ 19,329.78 Mn by 2028, and is expected to exhibit a CAGR of 5.1% between 2021 and 2028.
The growing usage of silicone polymer in medical & automobile applications is expected to create lucrative opportunities for market during forecast period.
Stringent regulations and lack of universal directives pertaining to applications of silicone polymer is restraining the market growth.
Key players include Dow Inc., Elkay Chemicals Pvt. Ltd., Elkem ASA, Evonik Industries AG, Gelest Inc., Innospec Inc, KCC Corporation, Reiss Manufacturing Inc., Shin-Etsu Chemical Co., Ltd., Siltech Corporation Inc., Supreme Silicones, and Wacker Chemie AG.
The market is estimated to be valued at US$ 14,373.89 Mn in terms of revenue, in 2021.

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