The Latest Silicone Industry Statistics Explained
The global silicone market size was valued at USD 4.52 billion in 2019.
The statistic stating that the global silicone market size was valued at USD 4.52 billion in 2019 represents the total monetary value of all silicone products sold worldwide during that year. This figure provides insight into the scale and significance of the silicone industry on a global scale. It indicates the substantial economic activity driven by the production, sale, and consumption of silicone-based products across various sectors such as automotive, construction, electronics, healthcare, and consumer goods. Understanding the market size helps businesses, policymakers, and investors make informed decisions regarding investments, market trends, and business strategies within the silicone industry.
It was projected to expand at a compound annual growth rate (CAGR) of 4.5% from 2020 to 2027.
The statistic “It was projected to expand at a compound annual growth rate (CAGR) of 4.5% from 2020 to 2027” indicates the expected growth trajectory of a particular entity or variable over the specified time period. The compound annual growth rate (CAGR) is a measurement that provides a smoothed annual growth rate over the entire time frame, taking into account the compounding effect of growth. In this case, a CAGR of 4.5% suggests that the entity is anticipated to increase by an average of 4.5% per year for the seven-year period from 2020 to 2027. This projection can be useful for forecasting future trends, planning strategies, and assessing the overall growth potential of the entity under consideration.
67% of global silicon consumption in 2021 were used in aluminium alloys.
The statistic ‘67% of global silicon consumption in 2021 were used in aluminium alloys’ indicates that a substantial majority of silicon produced worldwide was utilized in the manufacturing of aluminium alloys during the specified year. This suggests that silicon is a critical component in the production of aluminium alloys, likely due to its ability to enhance the strength, durability, and other desirable properties of the final material. The high percentage of silicon used in aluminium alloys highlights the significant role these alloys play in various industries and applications, indicating a strong demand for these materials globally throughout the year 2021.
The largest silicone end-users include the Construction (25%) and the Automotive (21%) industries.
This statistic indicates the distribution of silicone end-users, with the Construction industry accounting for the largest share at 25%, followed by the Automotive industry at 21%. This suggests that silicone products are prominently utilized in these sectors for various applications, such as sealants, adhesives, lubricants, and coatings. The significant presence of silicone in the Construction industry highlights its use in building materials, weatherproofing, and insulation, while its prevalence in the Automotive industry indicates its application in automotive parts, gaskets, and other components. Understanding these key industries that drive demand for silicone can provide insights into market trends, innovation opportunities, and potential areas for growth in the silicone industry.
The Asia Pacific held over 40% of the overall volume share in the silicone market in 2019.
The statistic “The Asia Pacific held over 40% of the overall volume share in the silicone market in 2019” indicates that the Asia Pacific region was a significant player in the silicone market during that year, accounting for more than 40% of the total volume of silicone products sold globally. This suggests that the Asia Pacific region had a strong demand for silicone products and likely played a key role in driving market growth and shaping industry trends. The statistic highlights the region’s importance in the global silicone market and underscores the potential impact of its market activities on the overall industry landscape.
The silicone industry is expected to reach over $20 Billion by 2027.
This statistic indicates that the silicone industry is projected to experience significant growth over the next few years, with a forecasted market value exceeding $20 billion by the year 2027. This suggests that there is high demand for silicone products across various industries such as automotive, electronics, healthcare, construction, and more. The expected growth in the silicone industry may be driven by factors such as the increasing adoption of silicone-based materials for their versatile properties, including heat resistance, flexibility, durability, and biocompatibility. This statistic reflects a positive outlook for the silicone market, indicating potential opportunities for industry players, investors, and stakeholders to capitalize on the expanding market and innovative applications of silicone technology.
The silicone elastomers segment accounted for over 46% of global market in 2019.
The statistic “The silicone elastomers segment accounted for over 46% of the global market in 2019” indicates that among all the different types of elastomers available in the global market in 2019, silicone elastomers held the largest market share, with a significant portion of over 46%. This suggests that silicone elastomers were the most widely used or preferred type of elastomers within the market during that time. The high market share points to the strong demand for silicone elastomers, likely due to their unique properties such as durability, flexibility, resistance to high temperatures, and chemical inertness, making them desirable for various industrial applications across different sectors.
The majority of silicone is produced in China, contributing to over 60% of global production.
The statistic that the majority of silicone is produced in China, accounting for over 60% of global production, highlights the significant role that China plays in the global silicone industry. This dominance in production can be attributed to various factors such as cheap labor, access to raw materials, and advancements in manufacturing technology. China’s large-scale production capabilities not only satisfy domestic demand but also enable the country to export silicone products to markets worldwide. The concentration of silicone production in China has implications for global trade dynamics, supply chain resilience, and market competition within the silicone industry.
The US contributes to approximately 5% of the global silicone production.
The statistic indicating that the US contributes to approximately 5% of the global silicone production suggests that the United States plays a significant role in the worldwide silicone industry. Silicones are versatile materials used in various sectors such as automotive, construction, electronics, beauty and personal care products, and more. With the US accounting for a notable portion of global production, it underscores the country’s contribution to meeting the global demand for silicone-based products and its impact on the overall market dynamics. Additionally, the statistic reflects the US’s competitiveness and capability in the silicone manufacturing sector, highlighting its standing among other major global producers.
The value of silicone rubber exports from the US amounted to 1.18 billion U.S. dollars in 2019.
The statistic indicates that in 2019, the United States exported silicone rubber products totaling 1.18 billion U.S. dollars. This figure represents the total value of sales of silicone rubber products shipped out of the country during that year. The data provides valuable insight into the economic significance of silicone rubber exports for the U.S., indicating a substantial market for these products both domestically and internationally. Tracking the value of silicone rubber exports over time can offer important information on trends in the industry, changes in global demand, and the competitiveness of U.S. manufacturers in the international market for silicone rubber products.
In 2021 Russia produced around 750 thousand metric tons of silicon.
The statistic indicates that in 2021, Russia’s production of silicon amounted to approximately 750 thousand metric tons. This figure serves as a quantifiable measure of the total quantity of silicon produced in the country during that year. Silicon is a widely used material in various industries, including electronics, solar panels, and construction. The production volume can provide insights into the country’s industrial output, economic activity, and global competitiveness in the silicon market. Analyzing trends in silicon production can help identify potential growth opportunities, market dynamics, and technological advancements in Russia’s manufacturing sector.
The top silicone companies globally include Dow Corning, Wacker Chemie, and Shin-Etsu Chemical.
The statistic “The top silicone companies globally include Dow Corning, Wacker Chemie, and Shin-Etsu Chemical” indicates that these three companies are among the leading manufacturers and suppliers of silicone products on a global scale. This ranking suggests that they have significant market share, advanced technologies, high-quality products, and strong brand recognition in the silicone industry. These companies likely play a key role in shaping the industry trends, meeting the diverse demands of customers worldwide, and driving innovation in the development of new silicone-based applications across various sectors such as automotive, electronics, construction, and healthcare.
Liquid silicone rubber is anticipated to reach a market value of 3.82 billion dollars by 2026.
The statistic that liquid silicone rubber is anticipated to reach a market value of 3.82 billion dollars by 2026 indicates a significant projected growth in the market for this material. Liquid silicone rubber is commonly used in various industries such as automotive, healthcare, electronics, and construction due to its unique properties like flexibility, heat resistance, and durability. The forecasted market value suggests a growing demand for liquid silicone rubber products in the coming years, possibly driven by advancements in technology, expansion of end-user industries, and increased focus on quality and safety standards. This statistic provides valuable insight for businesses operating in the liquid silicone rubber market, informing potential opportunities for growth and strategic decision-making.
The fluid’s segment holds the 3rd largest market share in the global silicone market.
This statistic indicates that the fluid’s segment within the silicone market holds the third highest market share globally, following two other segments with larger market shares. This information suggests that the fluid’s segment is a significant player in the silicone market, contributing a substantial portion of the overall market demand. The ranking of the segment based on market share reflects its competitiveness and importance within the industry. Companies operating in the fluid’s segment may use this data to evaluate their market positioning, competitive strategies, and potential growth opportunities within the global silicone market.
The global market for silicone in transportation is expected to grow at a CAGR of 7.9% from 2018 to 2023.
This statistic indicates the projected growth rate of the global market for silicone used in the transportation industry over the period of 2018 to 2023. A CAGR (Compound Annual Growth Rate) of 7.9% suggests that the market is anticipated to expand steadily at an average annual rate of 7.9% during this time frame. This growth is indicative of increasing demand for silicone products in the transportation sector, potentially driven by factors such as advancements in technology, the need for more sustainable and efficient transportation solutions, and the expanding automotive and aerospace industries. The CAGR serves as a useful metric for understanding the overall trend and rate of growth within this market segment over the specified period.
Norway exports over 90% of its silicon production.
The statistic that Norway exports over 90% of its silicon production means that the vast majority of the silicon produced in Norway is sold to other countries rather than being used domestically. This high export percentage indicates that Norway is a significant player in the global silicon market, likely due to factors such as efficient production processes, high product quality, and competitive pricing. By exporting such a large proportion of its silicon production, Norway is not only generating revenue for its economy but also contributing to the supply chain of silicon-based products on a worldwide scale.
The silicone additives market is expected to reach a value of $2 Billion by 2027.
The statistic “The silicone additives market is expected to reach a value of $2 billion by 2027” indicates the projected growth and economic value of silicone additives within the specified timeframe. This forecast suggests that there is anticipated growth in the demand and usage of silicone additives across various industries such as personal care, construction, automotive, and electronics, leading to the market reaching a total value of $2 billion by 2027. This estimate is based on analysis of market trends, technological advancements, consumer preferences, and economic factors that influence the silicone additives industry’s growth and expansion.
The construction sector is dual-use in silicone, employing the material both in sealants and adhesives to hold 28.5% of the total market share in 2019.
This statistic indicates that the construction sector has a significant presence in the silicone industry, utilizing silicone for both sealants and adhesives. In 2019, the construction sector held a substantial market share of 28.5% in the silicone industry, showcasing the sector’s reliance on silicone-based products for various applications within the construction field. The use of silicone in sealants and adhesives highlights its versatility and importance in ensuring the durability and functionality of building structures. This statistic implies that the construction sector is a key player in driving demand for silicone products, emphasizing its significance in the construction industry.
Conclusion
Overall, the silicone industry statistics provide valuable insights into the market trends, growth potential, and key players in the sector. With the increasing demand for silicone products in various applications such as construction, automotive, and healthcare, the industry is poised for further growth and innovation. By staying informed about the latest statistics and industry developments, businesses can make informed decisions and capitalize on the opportunities within the growing silicone market.
References
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5. – https://www.www.techemergence.com
6. – https://www.www.statista.com
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