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 |
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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.
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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