U.S. Silicone Market Size & Outlook, 2022-2030
U.S. silicone market, 2019-2030 (US$Ms)
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U.S. silicone market highlights
- The U.S. silicone market generated a revenue of USD 3,834.9 millions in 2022 and is expected to reach USD 6,017.2 millions by 2030.
- The U.S. market is expected to grow at a CAGR of 5.8% 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 3,834.9 millions |
| Market revenue in 2030 | USD 6,017.2 millions |
| Growth rate | 5.8% (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, U.S. accounted for 19.2% 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 |
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U.S. 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 44.68% in 2022. Horizon Databook has segmented the U.S. silicone market based on fluids, gels, resins, elastomers covering the revenue growth of each sub-segment from 2019 to 2030.
The U.S. silicones market is expected to perform moderately owing to limited opportunities by market maturity of both manufacturing industries in general and the use of silicones. However, continuous product innovation and ongoing technological developments are expected to promote the application of silicone in emerging markets.
Moreover, suppliers continue to gain market share through value-added product development and by creating inroads into applications that conventionally use other materials. A number of states in the U.S., including California, New Jersey, Washington, and Louisiana, are using tax credits, exemptions, and rebates to fuel the procurement of electric vehicles (EVs).
New Jersey and Washington exempt the sale and use tax for EVs, while California offers rebates to plug-in hybrid electric vehicles (PHEVs) and other light-duty zero-emission vehicles. These tax incentive programs implemented by different states in the U.S. are likely to boost the market for electric vehicles, which, in turn, is projected to fuel the consumption of silicone over the forecast period.
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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 U.S. silicone market , including forecasts for subscribers. This country databook contains high-level insights into U.S. silicone market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. silicone market size, by product, 2019-2030 (US$Ms)
U.S. Silicone Market Outlook Share, 2022 & 2030 (US$Ms)
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