The global North America silicone market size is expected to reach USD 6.69 billion by 2030, registering a CAGR of 5.5% from 2024 to 2030, according to a new report. The market is poised for growth due to increasing demand across multiple industries, such as automotive, construction, electronics, healthcare, and consumer goods. Silicone's versatility and wide range of applications, including sealants, adhesives, coatings, and elastomers, make it a sought-after material. In addition, the market is driven by the growing emphasis on sustainability, as silicone offers eco-friendly properties, recyclability, durability, and low toxicity.
The silicone market is expected to perform moderately owing to limited opportunities by market maturity of both manufacturing industries in general and the use of silicones. However, continuous product innovation and ongoing technological developments are expected to promote the application of silicone in emerging markets, such as electric vehicles (EVs) and health & personal care, which, in turn, is expected to fuel the market growth over the forecast period. Moreover, suppliers continue gaining market share through value-added product development and creating inroads into applications that conventionally use other materials.
In terms of product, the fluid segment's dominance is reinforced by the reliability and trust that the industry places in silicone fluids. Their resistance to extreme temperatures, chemical inertness, and low toxicity make them a preferred choice in critical applications. In addition, the ease of handling and formulation flexibility further bolster their popularity among manufacturers. Therefore, the fluid segment has firmly established itself as the go-to solution in the North America silicone industry, meeting the diverse demands of different industries and solidifying its position as the primary driver of the market's growth.
In terms of end-use, the industrial processes segment led the market in 2022, which is attributed to the remarkable properties of silicone that cater to a wide array of industrial applications. Silicone's unique characteristics, such as high thermal stability, excellent electrical insulation, and resistance to chemicals, make it highly sought-after in various industrial settings. Silicone finds extensive use in industries such as automotive, electronics, construction, and aerospace, where it serves as a crucial component in coatings, lubricants, adhesives and sealants. Its ability to withstand extreme temperatures and harsh environments makes it invaluable in industrial processes, where reliability and performance are of utmost importance.
The silicone market is expected to perform moderately owing to limited opportunities by market maturity of both manufacturing industries in general and the use of silicones. However, continuous product innovation and ongoing technological developments are expected to promote the application of silicone in emerging markets, such as electric vehicles (EVs) and health & personal care, which, in turn, is expected to fuel the market growth over the forecast period. Moreover, suppliers continue gaining market share through value-added product development and creating inroads into applications that conventionally use other materials.
In terms of product, the fluid segment's dominance is reinforced by the reliability and trust that the industry places in silicone fluids. Their resistance to extreme temperatures, chemical inertness, and low toxicity make them a preferred choice in critical applications. In addition, the ease of handling and formulation flexibility further bolster their popularity among manufacturers. Therefore, the fluid segment has firmly established itself as the go-to solution in the North America silicone industry, meeting the diverse demands of different industries and solidifying its position as the primary driver of the market's growth.
In terms of end-use, the industrial processes segment led the market in 2022, which is attributed to the remarkable properties of silicone that cater to a wide array of industrial applications. Silicone's unique characteristics, such as high thermal stability, excellent electrical insulation, and resistance to chemicals, make it highly sought-after in various industrial settings. Silicone finds extensive use in industries such as automotive, electronics, construction, and aerospace, where it serves as a crucial component in coatings, lubricants, adhesives and sealants. Its ability to withstand extreme temperatures and harsh environments makes it invaluable in industrial processes, where reliability and performance are of utmost importance.
North America Silicone Market Report Highlights
- In terms of product, The fluid product segment led the market and accounted for a revenue share of over 45.0% in 2023, which is attributed to rising product demand from the end-use industries such as electronics, transportation, construction, healthcare, personal care, and consumer goods, energy, and industrial processes
- Silicone fluid offers resistance to extreme temperatures, chemical inertness, and low toxicity making them a preferred choice in critical applications. In addition, the ease of handling and formulation flexibility further bolster their popularity among manufacturers
- Expanding manufacturing base and increasing investments in advanced technologies for vehicular production are expected to bring about a new era of automobiles, positively influencing the market for silicone
- The industrial processes segment led the market and accounted for a significant revenue share in 2023. This is attributed to the remarkable properties of silicone that cater to a wide array of industrial applications. Silicone's unique characteristics, such as high thermal stability, excellent electrical insulation, and resistance to chemicals, make it highly sought after in various industrial settings
- In terms of region, t U.S. silicone market held the largest revenue share of 89.5% in 2023. This is attributed to its robust industrial and economic landscape. The U.S. is home to a diverse range of industries, such as automotive, electronics, healthcare, and construction, which are significant consumers of silicone-based products
Table of Contents
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 North America Silicone Market: Variables And Trends
Chapter 4 North America Silicone Market: Product Estimates & Trend Analysis
Chapter 5 North America Silicone Market: End-use Estimates & Trend Analysis
Chapter 6 North America Silicone Market: Regional Estimates & Trend Analysis
Chapter 7 North America Silicone Market - Competitive Landscape
Chapter 8 North America Silicone Market - Company Profile
List of Tables
List of Figures
Companies Mentioned
- CHT Group
- Dow Inc.
- Elkem ASA
- Evonik Industries
- GELEST, INC.
- Jiangsu Mingzhu Silicone Rubber Material Co., Ltd.
- KCC CORPORATION
- Kaneka Corporation
- Momentive
- Shin-Etsu Chemical Co. Ltd
- Wacker Chemie AG
- HEXPOL AB.
- Silchem Inc.
- Specialty Silicone Products, Inc.
- Illinois Tool Works Inc.
- Abbvie Inc.
- CRI-SIL Silicone Technologies, LLC
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 164 |
| Published | July 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 4.57 Billion |
| Forecasted Market Value ( USD | $ 6.69 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | North America |
| No. of Companies Mentioned | 17 |
