UK Silicone Market Size & Outlook, 2022-2030
UK silicone market, 2019-2030 (US$Ms)
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UK silicone market highlights
- The UK silicone market generated a revenue of USD 803.2 millions in 2022 and is expected to reach USD 1,207.5 millions by 2030.
- The UK market is expected to grow at a CAGR of 5.2% from 2023 to 2030.
- In terms of segment, elastomers was the largest revenue generating product in 2022.
- Gels is the most lucrative product segment registering the fastest growth during the forecast period.
Silicone market data book summary
| Market revenue in 2022 | USD 803.2 millions |
| Market revenue in 2030 | USD 1,207.5 millions |
| Growth rate | 5.2% (CAGR from 2022 to 2030) |
| Largest segment | Elastomers |
| Fastest growing segment | Gels |
| 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, UK accounted for 4.0% of the global silicone market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany silicone market is projected to lead the regional market in terms of revenue in 2030.
- Russia is the fastest growing regional market in Europe and is projected to reach USD 864.1 millions by 2030.
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Silicone Market Scope
Silicone Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
UK 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 42.92% in 2022. Horizon Databook has segmented the UK silicone market based on fluids, gels, resins, elastomers covering the revenue growth of each sub-segment from 2019 to 2030.
The UK silicone market is driven by the significant product demand from industrial process, construction, and automotive end-use segments. Automotive industry in the country is about to witness a period of intense technological innovations, which is expected to shape the growth of the industry in the coming years.
Initiatives for newer product developments, including driverless cars, are the major factors expected to increase investments in the industry. In addition, emerging trends to cut down vehicle emissions and develop cleaner cars are leading to the development of electric cars. This positive scenario is expected to fuel the demand for silicone in automotive industry.
Moreover, favorable government policies aimed at reducing greenhouse emissions, such as manufacturing of zero-emission vehicle by 2040 and extending the Clean Vehicle Retrofit Accreditation Scheme (CVRAS) beyond HGVs, coaches, and buses to include cabs and vans, are further anticipated to propel the penetration of silicone for making lightweight components in automotive industry in the coming years.
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Our clientele includes a mix of silicone market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK silicone market , including forecasts for subscribers. This country databook contains high-level insights into UK silicone market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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UK silicone market size, by product, 2019-2030 (US$Ms)
UK Silicone Market Outlook Share, 2022 & 2030 (US$Ms)
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