Mexico Silicone Market Size & Outlook, 2022-2030
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Mexico silicone market highlights
- The Mexico silicone market generated a revenue of USD 286.8 millions in 2022 and is expected to reach USD 434.7 millions by 2030.
- The Mexico market is expected to grow at a CAGR of 5.3% 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 286.8 millions |
| Market revenue in 2030 | USD 434.7 millions |
| Growth rate | 5.3% (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, Mexico accounted for 1.4% of the global silicone market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. silicone market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 6,017.2 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 |
Mexico 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 45.22% in 2022. Horizon Databook has segmented the Mexico silicone market based on fluids, gels, resins, elastomers covering the revenue growth of each sub-segment from 2019 to 2030.
Mexico is expected to benefit from the rising construction spending and growing inclination of consumers toward the utilization of sustainable and lightweight building materials. Moreover, continuous development in key growth areas such as medical devices, drug delivery, and specialty products for hair care is expected to boost the product demand over the forecast period.
Significant opportunities in specialized products especially high-quality rubber used in cables and battery insulation in electric vehicles coupled with the expanding automotive sector on account of rising adoption of electric vehicles are also anticipated to have a positive impact on silicone market in the country.
The demand for electric vehicles in Mexico is likely to be driven by the government’s initiatives to decarbonize the country’s transport sector and several incentives on the purchase of zero-emission vehicles (ZEVs).
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Our clientele includes a mix of silicone market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico silicone market , including forecasts for subscribers. This country databook contains high-level insights into Mexico silicone market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico silicone market size, by product, 2019-2030 (US$Ms)
Mexico Silicone Market Outlook Share, 2022 & 2030 (US$Ms)
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