Silicone Market Size, Share, Trends, & Industry Analysis Report
By Product (Elastomers, Fluids, Resins), By End User, and By Region – Market Forecast, 2025–2034
- Published Date:Oct-2025
- Pages: 119
- Format: PDF
- Report ID: PM5202
- Base Year: 2024
- Historical Data: 2020-2023
Overview
The silicone market was valued at USD 22.67 billion in 2024 growing at a CAGR of 6.15% from 2025-2034. The growing demand from construction & automotive industry and increasing use in personal care industry is driving the growth of silicone market.
Key Insights
- Elastomers segment dominated in 2024 due to high use in automotive gaskets and seals.
- Personal care segment to grow fastest, driven by rising silicone use in hair, skin, and cosmetic products.
- Asia Pacific led the global market in 2024 due to strong manufacturing infrastructure.
- China dominated Asia Pacific in 2024 due to robust production base and government investments.
- North America to record fastest growth, driven by demand from automotive and healthcare sectors.
- The U.S. to grow fastest in North America, driven by demand from healthcare, personal care, and strong R&D presence.
Industry Dynamics
- Growing demand from construction & automotive industry is driving the growth of silicone market.
- Increasing use in personal care industry is driving the growth of silicone market.
- Growing demand of silicone in the healthcare industry creates opportunity for silicone market in the coming years.
- High raw material and production costs restraints the growth of silicone industry.
Market Statistics
- 2024 Market Size: USD 22.67 Billion
- 2034 Projected Market Size: USD 41.22 Billion
- CAGR (2025-2034): 6.15%
- Asia Pacific: Largest Market Share
Silicone industry comprises a large variety of products such as elastomers, fluids, resins, adhesives and sealants, and gels used in various industries like construction, automotive, electronics, pharmaceuticals, and personal care. Major applications include architectural sealants and coatings, automotive gaskets and lubricants, electrical insulation in electronics, and personal care formulations like skin and hair products. These solutions are targeted to manufacturers, industrial customers, healthcare professionals, and cosmetic companies, meeting new production and maintenance requirements.
In real-world uses, silicone products blend chemical stability with functional versatility to optimize product performance and durability. Silicone sealants give weather resistance and structural flexibility in building, automotive gasket and lubricants enhance vehicle efficiency and longevity, and silicone-based formulations in cosmetics provide smooth textures and lasting effects.
The market for silicone is growing robustly with increasing demand from application industries and advances in product formulation technologies. Urbanization and building construction, the drive toward electric cars, and the increasing emphasis on premium personal care products are major drivers of silicone industry growth. Additionally, advances in bio-based and ultra-high purity silicones are opening up new application opportunities in the healthcare, electronics, and green technology markets. For instance, in July of 2025, Stratasys and Shin-Etsu launched P3 Silicone 25A, a high-performance silicone material for additive manufacturing. It provides the strength and flexibility of conventional silicone to the precision of 3D printing applications. Leading companies are introducing advanced silicone solutions that combine sustainability, durability, and efficiency that is strengthening market adoption globally.
Drivers & Opportunity
Growing Demand from Construction & Automotive Industry: The global silicone market is experiencing growth due to the growing demand from construction & automotive industry. In the building industry, silicones find extensive applications in sealants, adhesives, and coatings due to its weather resistance and durability. In the automotive market, silicones play a critical role in gaskets, lubricants, and electric insulation, facilitating the transition towards electric and hybrid cars. As per the international energy agency (IEA) global EV outlook report 2024, the worldwide EV sales rose to 17.3 million vehicles in 2024 from 6.5 million vehicles in 2021, i.e., an enormous 166% rise in the past 3 years, which depicts the rise in silicone market growth.
Increasing Use in Personal Care Industry: Silicone market is growing owing to increasing applications in the personal care sector. Silicones are utilized in skincare and cosmetic products owing to its smooth feel, durable outcome, and capacity to improve product performance. The Indian cosmetic market is expected to grow to USD 20 billion by 2025 with a growth rate of 25%, as per a report by Indian Brand Equity Foundation (IBEF), thus fueling the expansion of the silicone industry.
Segmental Insights
Product Analysis
Based on product, the segmentation includes elastomers, fluids, resins, sealants, adhesives, and gels. The elastomers segment had the largest market share globally in 2024 due to extensive usage in automotive, construction, and industrial segments as a result of flexibility, toughness, and high-heat resistance. Increasing demand for high-performance molded parts, sealants, and gaskets also enhanced the use of elastomers in major industries worldwide.
The gels segment is expected to expand at the highest CAGR throughout the forecast period due to increasing application in personal care, healthcare, and electronics sectors where cushioning, sealing, and protective characteristics are paramount. Worldwide growth across all segments is driven by increasing demand for high-performance and specialty silicone products.
End User Analysis
Based on end user, the segmentation includes automotive, aerospace, healthcare, personal care, construction, electronics industries, and others. The automotive sector led the market in 2024 due to the growing application of silicone in gaskets, seals, lubricants, and electrical parts. The production of electric vehicles and hybrid vehicles, along with the demand for long-lasting and high-performance materials, is enhancing the use of silicone products in the automotive industry.
The personal care industry is projected to grow at the fastest CAGR during the forecast period, due to the expanding use of silicone in hair care, skincare, and cosmetic formulations. Silicones improve texture, spread ability, and long-lasting effects in products, while growing consumer awareness and preference for premium personal care solutions are driving the market growth of personal care segment.
Regional Analysis
The Asia Pacific silicone market dominated the global market in 2024, driven by rapid industrialization and expanding construction activities in the region. In developing countries such as China, Japan, and India, the increasing growth in the construction segment drives the demand for silicone industry. Moreover, growing automotive production in developing countries further strengthened market growth of silicone industry.
China Silicone Market Insights
The China dominated the market share in the Asia Pacific silicone market region in 2024 due to robust demand from the automotive industries. In addition, continuous investments in specialty and high-performance silicone formulations are fueling innovation and positioning China as a prime location for production and consumption of silicone products. In May 2025, WACKER chemie AG spread its portfolio in silicone industry by setting up a new plant to expanded its silicone production facility in China.
Europe Silicone Market Insights
The Europe silicone market accounted for a significant share in 2024 due to strong demand from construction, automotive and healthcare sectors. Escalating use of silicone sealants in green building and increasing applications in electric vehicle parts are fueling regional market growth. During September 2025, Elkem introduced a new solvent-free silicones produced wholly from recycled material, with the same performance level but a 70% reduced carbon footprint. Further, rising application of medical-grade silicones in medical applications and continued investment by leading manufacturers are underpinning market growth in Germany, France, and the UK.
North America Silicone Market Insights
The North America silicone market is the fastest-growing region, driven by rising demand from healthcare and skincare industries. Increasing adoption of high-performance silicones in personal care products is fueling the growth of North America silicone market. For example, Dow launched low-carbon silicone elastomer blends under the Decarbia platform in June 2024 to enable sustainable innovation in skin, hair, and color cosmetics. The new formulations ensure reduced carbon footprint with high performance and sensory appeal in beauty applications.
The U.S. Silicone Market Insights
The U.S. is the fastest-growing country in the North America silicone market. The growth is driven by strong demand from the healthcare, and personal care sectors. The rise in the number of aging populations in the country driving the growth of skincare and personal care segment that further drives the growth of silicone market. Moreover, the presence of major manufacturers and advanced R&D facilities further accelerate the silicone market in the country.
Key Players & Competitive Analysis Report
The silicone market is moderately competitive, with several global and regional players. While a few major companies hold significant market shares, some smaller firms contribute to the diversity and competitiveness of the market.
Major companies operating in the silicone market include Dow Inc., Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd., Elkem ASA, Momentive Performance Materials Inc., Henkel AG & Co. KGaA, Evonik Industries AG, KCC Corporation, Elkay Chemicals Pvt. Ltd., Supreme Silicones, Silchem Inc., and Armols Polymers Pvt. Ltd.
Key Players
- Dow Inc.
- Wacker Chemie AG
- Shin-Etsu Chemical Co., Ltd.
- Elkem ASA
- Momentive Performance Materials Inc.
- Henkel AG & Co. KGaA
- Evonik Industries AG
- KCC Corporation
- Elkay Chemicals Pvt. Ltd.
- Supreme Silicone
- Silchem Inc.
- Armols Polymers Pvt. Ltd.
Industry Development
- June 2025: Dow launched carbon-free silicone elastomer blends under its Decarbia platform at SCC Suppliers' Day 2025 in favor of sustainable formulating for skin, hair, and color cosmetics.
- September 2023: Shin-Etsu Chemical created a Sustainable Silicone Business Development Department under its Silicone Division within its Head Office organizational structure to manage silicones which are the central product in its Functional Materials business segment.
Silicone Market Segmentation
By Product (Revenue, USD Billion, 2020–2034)
- Elastomers
- Fluids
- Resins
- Sealants
- Adhesives
- Gels
By End User (Revenue, USD Billion, 2020–2034)
- Automotive industry
- Aerospace industry
- Healthcare industry
- Personal care industry
- Construction industry
- Electronics industry
- Others
By Region (Revenue, USD Billion, 2020–2034)
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherland
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
- Latin America
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of South Africa
Silicone Market Report Scope
|
Report Attributes |
Details |
|
Market Size in 2024 |
USD 22.67 Billion |
|
Market Size in 2025 |
USD 24.03 Billion |
|
Revenue Forecast by 2034 |
USD 41.11 Billion |
|
CAGR |
6.15% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2025-2034 |
|
Forecast Period |
2025-2034 |
|
Quantitative Units |
Revenue in USD Billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors and Industry Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Application |
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Customization |
Report customization as per your requirements with respect to countries, regions and segmentation. |
FAQ's
The global market size was valued at USD 22.67 billion in 2024 and is projected to grow to USD 41.11 billion by 2034.
The global market is projected to register a CAGR of 6.15% during the forecast period.
Asia Pacific dominated the silicone market in 2024, driven by the strong presence of manufacturing infrastructure.
A few of the key players in the market are Dow Inc., Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd., Elkem ASA, Momentive Performance Materials Inc., Henkel AG & Co. KGaA, Evonik Industries AG, KCC Corporation, Elkay Chemicals Pvt. Ltd., Supreme Silicones, Silchem Inc., and Armols Polymers Pvt. Ltd.
Elastomers dominated the market in 2024 due to widespread use in automotive, construction, and industrial applications.
The personal care segment is projected to grow at the fastest CAGR, owing to the expanding use of silicone in hair care, skincare, and cosmetic formulations.
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