Silicone Market Report 2026

The silicone market size has grown rapidly in recent years. It will grow from $28.38 billion in 2025 to $32.65 billion in 2026 at a compound annual growth rate (CAGR) of 15%. The growth in the historic period can be attributed to growth of industrial manufacturing, demand for heat resistant materials, expansion of electronics sector, adoption in personal care products, development of silicone elastomers.

The silicone market size is expected to see rapid growth in the next few years. It will grow to $54.91 billion in 2030 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to rising electric vehicle production, growth of healthcare devices, increasing infrastructure development, innovation in silicone formulations, demand for durable polymers. Major trends in the forecast period include rising demand for high performance materials, growing use in automotive and electronics, expansion of medical grade silicone applications, increasing adoption in construction and sealants, focus on thermal and chemical stability.

The expansion of the automobile sector is expected to drive the growth of the silicon (except resins) market in the future. The automobile sector comprises businesses and institutions involved in designing, producing, marketing, and selling vehicles. Silicones are widely used in manufacturing engine gaskets, seals, and hoses, which must endure high temperatures, pressure, and chemical exposure. Silicones are particularly suitable for these applications due to their heat resistance and durability. For example, in January 2023, the National Automobile Dealers Association (NADA), a U.S.-based trade organization, reported 13.7 million new light-vehicle sales in the United States, with projections for 2023 reaching 14.6 million new light-vehicle sales, representing a 6.6% increase over 2022 estimates. Therefore, the growth of the automobile sector is fueling the expansion of the silicon market.

Major companies in the silicon market are concentrating on developing advanced products like silicone resin binders to offer superior binding properties for high-performance coatings. Silicone resin binders, made from silicone polymers, provide exceptional heat resistance, water repellency, and chemical stability. They form durable protective films that safeguard surfaces from UV radiation, extreme temperatures, and moisture. For example, in April 2023, Wacker, a Germany-based chemical company, introduced SILRES M 51 E and SILRES IC 900. These innovative silicone resin binders are engineered for industrial coatings, capable of withstanding temperatures up to 600°C and adhering effectively to metals such as steel and aluminum. Their heat-stable properties make them ideal for use in high-temperature environments like chemical plants and piping systems.

In May 2024, KCC Corporation, a South Korea-based chemical company, completed its acquisition of Momentive Performance Materials Group for an undisclosed amount. This acquisition strengthens Momentive's capabilities in advanced silicones and specialized applications, enhancing its technological expertise and geographic presence. Momentive Performance Materials is a US-based producer of silicones and silicone derivatives.

Major companies operating in the silicone market are Wacker-Chemie AG, CSL Silicones Inc., Specialty Silicone Products Inc., Dow Corning Corporation, Momentive Performance Materials Inc., Elkem ASA, Gelest Inc., Shin-Etsu Chemical Co., Ltd., Siltech Corporation Inc., Nusil Technology LLC, KCC Corporation, SiVance LLC, Zhejiang Xinan Chemical Industrial Group Co. Ltd., Silicone Solutions, Primasil Silicones Ltd., ICM Products Inc., Evonik Industries AG, BASF SE, Arkema Inc., Ashland Inc., Mitsui Chemicals Inc., DIC Corporation, Dow Chemical Company.

Asia-Pacific was the largest region in the silicone market in 2025. North America was the second-largest region in the global silicone market. The regions covered in the silicone market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the silicone market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The silicone market consists of the sales of emulsion, oil, caulk, grease, resin, foam, and solid silicones. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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