India Silicone Market Size & Outlook, 2022-2030
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India silicone market highlights
- The India silicone market generated a revenue of USD 668.7 millions in 2022 and is expected to reach USD 1,198.5 millions by 2030.
- The India market is expected to grow at a CAGR of 7.6% from 2023 to 2030.
- In terms of segment, fluids was the largest revenue generating product in 2022.
- Elastomers is the most lucrative product segment registering the fastest growth during the forecast period.
Silicone market data book summary
| Market revenue in 2022 | USD 668.7 millions |
| Market revenue in 2030 | USD 1,198.5 millions |
| Growth rate | 7.6% (CAGR from 2022 to 2030) |
| Largest segment | Fluids |
| Fastest growing segment | Elastomers |
| Historical data | 2019 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD millions |
| Market segmentation | Fluids, Gels, Resins, Elastomers |
| Key market players worldwide | Shin-Etsu Chemical Co Ltd, Wacker Chemie AG, Illinois Tool Works Inc, Evonik Industries AG, CK Hutchison Holdings Ltd, Kemira Oyj, Dow Inc, Elkem ASA Ordinary Shares |
Other key industry trends
- In terms of revenue, India accounted for 3.4% of the global silicone market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China silicone market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,198.5 millions by 2030.
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Silicone Market Scope
Silicone Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| CK Hutchison Holdings Ltd | View profile | 300000 | 2 Queen’s Road Central, 48th Floor, Cheung Kong Center, Hong Kong, Hong Kong | https://www.ckh.com.hk |
| Kemira Oyj | View profile | 4690 | Energiakatu 4, P.O. Box 330, Helsinki, Finland, FI-00180 | https://www.kemira.com |
| Elkem ASA Ordinary Shares | View profile | 7436 | Drammensveien 169, Oslo, Norway, 0277 | https://www.elkem.com |
| Shin-Etsu Chemical Co Ltd | View profile | 25717 | 6-1, Ohtemachi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-0004 | http://www.shinetsu.co.jp |
| Illinois Tool Works Inc | View profile | 45000 | 155 Harlem Avenue, Glenview, IL, United States, 60025 | https://www.itw.com |
| Wacker Chemie AG | View profile | 16378 | Hanns-Seidel-Platz 4, Munich, BY, Germany, 81737 | https://www.wacker.com |
| Dow Inc | View profile | 35900 | 2211 H.H. Dow Way, Midland, MI, United States, 48674 | https://www.dow.com |
| Evonik Industries AG | View profile | 33409 | Rellinghauser Strasse 1-11, Essen, NW, Germany, 45128 | https://www.evonik.com |
India silicone market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to silicone market will help companies and investors design strategic landscapes.
Fluids was the largest segment with a revenue share of 43.32% in 2022. Horizon Databook has segmented the India silicone market based on fluids, gels, resins, elastomers covering the revenue growth of each sub-segment from 2019 to 2030.
In 2020, India emerged as the third-largest silicone market in the region and accounted for 7.35% revenue share. The market in India is anticipated to grow on account of the high demand for silicone from construction and industrial process industries coupled with growing consumer awareness regarding the quality and features offered by silicone products in various industrial and personal care applications.
Increasing production of commercial vehicles and passenger cars in the country is another factor projected to augment the growth of silicone market in India. Furthermore, the growing demand for electric vehicles in automotive industry and the flourishing renewable energy sector in the country is expected to offer huge growth potential for the market in the coming years.
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Horizon Databook provides a detailed overview of country-level data and insights on the India silicone market , including forecasts for subscribers. This country databook contains high-level insights into India silicone market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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India silicone market size, by product, 2019-2030 (US$Ms)
India Silicone Market Outlook Share, 2022 & 2030 (US$Ms)
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