North America Silicone Market Size & Outlook, 2022-2030
North America silicone market, 2019-2030 (US$Ms)
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North America silicone market highlights
- The North America silicone market generated a revenue of USD 4,288.1 millions in 2022.
- The market is expected to grow at a CAGR of 5.7% 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.
- Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 4,288.1 millions |
| Market revenue in 2030 | USD 6,694.6 millions |
| Growth rate | 5.7% (CAGR from 2022 to 2030) |
| Largest segment | Fluids |
| Fastest growing segment | Elastomers |
| Historical data covered | 2019 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, North America region accounted for 21.5% of the global silicone market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 706.2 millions by 2030.
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Silicone Market Scope
Silicone Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America 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 44.66% in 2022. Horizon Databook has segmented the North America silicone market based on fluids, gels, resins, elastomers covering the revenue growth of each sub-segment from 2019 to 2030.
North America is one of the leading markets for silicone additives owing to its high demand in plastics and composites, manufacturing chemicals, paints and coatings, and food and beverages. In addition, the region has high growth potential for medical-grade silicones driven by robust demand from the healthcare industry and presence of several large manufacturers in the region.
Rising demand for minimally invasive surgeries, presence of advanced implant devices, and availability of sophisticated healthcare infrastructure in the U.S. are expected to be among the favorable growth factors over the forecast period.
Moreover, increasing expenditure for hydraulic fracturing in Canada for increasing the yield of tight oil and shale gas is likely to increase the demand for silicone-based sealants and gaskets for oil & gas industrial machines.
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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 continent-level data and insights on the North America silicone market , including forecasts for subscribers. This continent databook contains high-level insights into North America silicone market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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North America silicone market size, by country, 2019-2030 (US$Ms)
North America Silicone Market Outlook Share, 2022 & 2030 (US$Ms)
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