Saudi Arabia Silicone Market Size & Outlook, 2022-2030
Saudi Arabia silicone market, 2019-2030 (US$Ms)
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Saudi Arabia silicone market highlights
- The Saudi Arabia silicone market generated a revenue of USD 75.3 millions in 2022 and is expected to reach USD 144.9 millions by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 8.5% from 2023 to 2030.
- In terms of segment, elastomers 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 75.3 millions |
| Market revenue in 2030 | USD 144.9 millions |
| Growth rate | 8.5% (CAGR from 2022 to 2030) |
| Largest segment | Elastomers |
| 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, Saudi Arabia accounted for 0.4% of the global silicone market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia silicone market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 144.9 millions by 2030.
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Silicone Market Scope
Silicone Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia 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.
Elastomers was the largest segment with a revenue share of 45.29% in 2022. Horizon Databook has segmented the Saudi Arabia silicone market based on fluids, gels, resins, elastomers covering the revenue growth of each sub-segment from 2019 to 2030.
The construction industry in Saudi Arabia mainly contributes to the demand for silicone. The growing participation of private players in infrastructure development activities has increased the growth of the construction industry in the country that is expected to drive the demand for silicone over the coming years.
In addition, growing investments in renewable energy in order to diversify the energy mix are expected to promote installation of mega plants in the country, thus supporting the demand for solargrade silicone and silicone used as lubricants and sealants in wind turbines over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia silicone market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia silicone market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia silicone market size, by product, 2019-2030 (US$Ms)
Saudi Arabia Silicone Market Outlook Share, 2022 & 2030 (US$Ms)
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