Press release
Silicone (except Resins) Market on Path to Hit $96.9 Billion by 2029 at 9.9% CAGR
Silicone (except Resins) Market
Silicone (except Resins) Market Outlook: What Size And CAGR Are Anticipated By 2025?
The market size of silicone, excluding resins, has seen a fast-paced growth in the last few years. The value is projected to rise from $60.22 billion in 2024 to $66.54 billion in 2025, with a compound annual growth rate (CAGR) of 10.5%. The substantial growth in the past was due to increased industrial applications, rising demand in electronics and electricals, a booming construction industry, an expanding healthcare sector, and a burgeoning automotive industry.
What Is the Expected CAGR for the Silicone (except Resins) Market Growth Through 2029?
The market size for silicone (excluding resins) is anticipated to experience robust growth in the upcoming years, escalating to a value of $96.9 billion in 2029 with a compound annual growth rate (CAGR) of 9.9%. The growth projection for this period can be linked to the rising trends in renewable energy, the increasing demand for vehicle electrification, the pursuit of smart and green buildings, and the expansion of the pharmaceuticals and biotechnology sectors. Key market trends in this projected period encompass silicone recycling initiatives, the application of silicone in 3D printing, the development of bio-based silicones, the use of silicone in healthcare wearables, and its inclusion in cosmetics.
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What Are the Primary Drivers Behind Silicone (except Resins) Market Growth?
The expansion in the automotive industry is projected to stimulate the silicon (barring resins) market's growth in the future. The automotive industry includes all entities involved in the creation, production, marketing, and sale of motor vehicles. Silicones play a crucial role in fabricating engine gaskets, seals, and hoses that must endure high heat, pressure, and exposure to diverse chemicals. Silicones are prefered for their ability to resist heat and their long-lasting characteristics. To illustrate, the National Automobile Dealers Association (NADA), an American trade organization, reported 13.7 million new light-vehicle sales in the United States in January 2023, predicting that the number will rise to 14.6 million in 2023, marking a 6.6% increase from the 2022 forecast. Consequently, the automotive industry's expansion is fueling the growth of the silicon (excluding resins) market.
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What Are the Key Segments Driving Silicone (except Resins) Market Growth?
The silicone (except resins) market covered in this report is segmented -
1) By Product Type: Elastomers, Fluids, Gels, Other Product Types
2) By Application: Construction, Transportation, Electrical And Electronics, Textiles, Personal Care And Pharmaceuticals, Other Applications
3) By End User: Industrial, Electronics, Machinery, Aerospace, Medical
Subsegments:
1) By Elastomers: Liquid Silicone Rubber (LSR), Solid Silicone Elastomers, High-Temperature Elastomers
2) By Fluids: Silicone Oils, Silicone Greases, Silicone Emulsions
3) By Gels: Medical-Grade Silicones, Cosmetic And Personal Care Silicones, Industrial Silicones
4) By Other Product Types: Silicone Sealants, Silicone Adhesives, Silicone Coatings, Silicone Foams
What Are the Technological Trends Impacting the Silicone (except Resins) Market?
Leading firms in the silicon (excluding resins) market are introducing innovative technologies such as new low-cyclosiloxane silicone elastomer blends and silicone resin blends in order to enhance their earnings. Recent improvements in silicone technology have enabled the use of these blends in topical applications. For example, in April 2023, DuPont de Nemours Inc., an American chemical company, launched new products in low-cyclic silicone elastomer blends and silicone resin blends for topical application. These low-cyclic silicone elastomer blends can improve the ease of spreading topical formulations on the skin and are designed to provide a soft, silky feel. The silicone resin blends can be used in various topical applications such as sun care, color cosmetics, and antiperspirants. These blends are crafted to form a durable, water-resistant layer on the skin that can extend the longevity and wear of topical formulations.
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Who Are the Major Competitors in the Global Silicone (except Resins) Market?
Major companies operating in the silicone market include Wacker-Chemie GmbH, CSL Silicones, Specialty Silicone Products Incorporated, Evonik Industries AG, Kaneka Corporation, Dow Corning Corporation, Momentive, Elkem ASA, Gelest Inc., BASF SE, Emerald Performance Materials LLC, Shin-Etsu Chemical Co. Ltd., Siltech Corporation, ICM Products Inc., CHT Group, Primasil Silicones, 3M, Nusil Technology LLC, Allergan plc, Ashland Inc., Arkema S.A., Silteq Limited, KCC Corporation, Sivance, Zhejiang Xinan Chemical Industrial Group Co. Ltd., Reiss Manufacturing Inc., Saint-Gobain, Silicone Solutions, Dow Silicones Corporation, Momentive Performance Materials Inc.
Which Region Dominates the Silicone (except Resins) Market Share in 2025?
Asia-Pacific was the largest region in the silicone market in 2024. North America was the second-largest region in the global silicone market. The regions covered in the silicone (except resins) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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