The latest report by IMARC, titled “Silicones and Siloxanes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global silicones and siloxanes market size reached US$ 22.0 Billion in 2022. Siloxanes refer to a group of chemical compounds that act as a building block for silicones. It is an unnatural silicone-oxygen hybrid in which each silicone atom is connected to one or more than one organic groups. Silicones or polysiloxanes, refer to polymers produced using repeated units of siloxanes. They are water repellent, odorless, flexible, resistant to chemicals and moisture, and possess temperature stability and high oxidation. In recent years, silicones and siloxanes have gained traction as they find extensive applications in the food and beverage (F&B), cosmetics, and construction industries.
Global Silicones and Siloxanes Market Trends:
One of the primary factors driving the market is the widespread utilization of silicones and siloxanes in personal care products, such as sun-care products, deodorants, cosmetics, and hair creams and conditioners. Additionally, siloxanes are extensively used in innovative methods of treatments, such as dimethylsiloxanes, which find utilization in antifoams, emulsions, and pastes due to their low surface tension, good spreading power, high surface activity, chemical inertness and thermal stability, thus creating a positive market outlook. Other than this, silicone-based materials, including adhesives, sealants, and protective coatings, which are durable, strong, and weather-resistant are employed in the production of various construction materials, which are positively influencing the market growth. Furthermore, the exponential growth in the construction industry in confluence with the increasing infrastructural development in numerous countries is propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 30.8 Billion by 2028, expanding at a CAGR of 5.85% during the forecast period (2023-2028).
- Based on the type, the market has been divided into elastomers, fluids, resins, and gels.
- On the basis of the application, the market has been segmented into industrial applications, construction materials, home and personal care, transportation, energy, healthcare, electronics, and others.
- Region-wise, the market has been classified into Asia-Pacific, Europe, North America, Central and South America, Middle East and Africa.
- Based on the type, the market has been bifurcated into linear and cyclic.
- On the basis of the application, the market has been segmented into silicones and other applications.
- Region-wise, the market has been classified into Asia-Pacific, Europe, North America, Central and South America, and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Dow Chemical Company, Momentive Performance Materials Inc., Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd., Elkem ASA.
|Base Year of the Analysis
||Million Tons, US$ Billion
|| Type, Application, Region
|| Asia-Pacific, Europe, North America, Central and South America, Middle East and Africa
||Dow Chemical Company, Momentive Performance Materials Inc., Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd., and Elkem ASA
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