Silicone In Electrical And Electronics Market Statistics – 2030
The silicone in electrical and electronics market size was valued at $1.6 billion in 2020, and is projected to reach $2.6 billion by 2030, growing at a CAGR of 10.7% from 2021 to 2030.
Silicones are a broad category of synthetic materials that include, silicone adhesives, coatings, sealants, and other products, which improve the performance and longevity of structures. Silicones are a long-lasting building material that withstand the effects of extreme weather, rain, and sunlight. Silicones properties allow for creative design and engineering structures, such as spectacular glass facades or curved and suspended structures.
The demand for silicone in the consumer electronics has increased, owing to the sealing characteristics of silicone adhered to glass & anodized aluminum and electromagnetic shielding property. In addition, silicone used as sealants in electronics is an excellent product for general weatherproofing applications. Moreover, the global silicone in electrical and electronics market is driven by its characteristics as a neutral and one-part adhesive/sealant for novel electronics.
Silicones have low intermolecular forces and do not change much with temperature. Consequently, viscosity, mechanical properties, dielectric properties, and many physical properties are not affected over a wide range of temperature.
The electrical and electronics industry offers various opportunities to market players, owing to rapid growth in the global economy and disposable incomes. Increase in use of silicone in electrical and electronics industry and growth in the electronics industry, specifically in China and India are some of the key aspects that augment the market growth. In addition, silicone elastomers are expected to witness rapid adoption in electrical and electronic applications, owing to its properties, such as high thermal conductivity, exceptional weatherability, easy to fabricate or process, high gas permeability, outstanding electrical insulating properties, and lower flammability.
However, fluctuating price of silicone and government regulations hamper the silicone in electrical and electronics market. Increase in demand for electrical and electronics products from Asia-Pacific is expected to provide lucrative opportunities for the silicone in electrical and electronics market.
The silicone in electrical and electronics market is segmented into type, end-user, and region. On the basis of type, the market is segmented into fluids, elastomers, resins, and gels. By end-user, the market is categorized into automotive, consumer electronics, telecommunication and others. Region-wise, the silicone in electrical and electronics market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global silicone in electrical and electronics market include, Dow, Elkem ASA, Evonik Industries AG, Kaneka Corporation, KCC Corporation, Momentive, Speciality Silicone Products Incorporated, Shin-Etsu Chemical Co., Ltd, Stockwell Elastomerics, INC and Wacker Chemie AG
The other players in the value chain of the silicone in electrical and electronics market include, Mesgo S.P.A., Zhejiang Xinan Chemical Industrial Group Co., Ltd., Reiss Manufacturing Inc., Ashland Incorporated, CRI-SIL Silicone Technologies, LLC., CSL Silicones Incorporated, and Elkay Silicones.
By Type
Elastomer is projected as the most lucrative segment.
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Silicone In Electrical And Electronics Market, By Type
By type, the elastomers segment is estimated to garner highest market share i.e., 55.1% during the forecast period, as silicone elastomer is rapidly gaining popularity due to scalability, long-term stability, and biocompatibility.
By End-user
Automotive is projected as the most lucrative segment.
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Silicone In Electrical And Electronics Market, By End-user
The automotive segment held a significant share in the silicone in electrical and electronics market in 2020 and is estimated to grow with a CAGR of 10.9% during the forecast period. Higher elongation and lower strength characteristics make silicone ideal for automotive wiring application, thereby increasing the demand for silicone in the automotive application. In addition, silicone is highly used in electrical vehicle and there is increasing adoption of electrical vehicle across the world driving the demand for silicone.
By Region
Asia-Pacific holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
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Silicone In Electrical And Electronics Market, By Region
Asia-Pacific garnered the highest share i.e. 53.6% in the silicone in electrical and electronics market in 2020, in terms of revenue, and is anticipated to maintain its dominance during the forecast period. This is due to increased demand from end-user like automotive and consumer electronics for silicone.
Covid-19 Impact On Market
- The COVID-19 outbreak impacted the silicone in electrical and electronics market negatively. The market witnessed a sharp decline in demand for silicone in electrical and electronics industry.
- The COVID-19 pandemic caused ban on import and export, thereby disrupting the supply chain and hampering the silicone in electrical and electronics industry market growth.
- Lockdown imposed by government have largely impacted the electrical and electronics sector as many of the electrical and electronics projects have been halted or postponed.
- There was a huge supply and demand gap created due to the COVID-19 pandemic.
- Fluctuation in prices of silicone during COVID-19 was the major hindrance for the market.
- The increase in demand for electrical and electronics products, such as mobile phones and laptops due to work from home activity increases the demand for silicone in electrical and electronics industry.
Key Benefits For Stakeholders
- The report includes in-depth analysis of different segments and provides silicone in electrical and electronics industry market estimations between 2021 and 2030.
- The silicone in electrical and electronics industry market is provided in terms of Tons and $million.
- A comprehensive analysis of the factors that drive and restrict the growth of the silicone in electrical and electronics industry market is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and forecast are based on factors impacting the silicone in electrical and electronics industry market growth, in terms of $million and kilotons.
- Key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current silicone in electrical and electronics industry market trends and future estimations from 2021 to 2030, which helps to identify the prevailing silicone in electrical and electronics industry market opportunities.
Silicone in Electrical and Electronic Market Report Highlights
| Aspects | Details |
 By Type |
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 By End-User |
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 By Region |
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 Key Market Players | EVONIK INDUSTRIES AG, ICM PRODUCTS, INC., QUANTUM SILICONES, KEMIRA OYJ, SPECIALTY SILICONE PRODUCTS INCORPORATED, WACKER CHEMIE GMBH, THE DOW CORNING CORPORATION, KANEKA CORPORATION, SILCHEM INC., HUTCHINSON |
Analyst Review
Increase in demand for electrical and electronics product, especially in Asia-Pacific is expected to boost the demand for silicone in electrical and electronics industry. Silicone compound is used for sealing, bonding, coating, and encapsulation of components in thousands of electronic products, allowing them to work efficiently under challenging conditions. Silicones plays an integral role in the development of information technology, telecommunications, micro- and macro-electronics, and delivery of electrical power. Owing to silicone protective properties, many technological and electronic innovations in electronic devices, components, assemblies, and systems are possible. These factors boost the demand for silicone in electrical and electronics industry. However, fluctuating prices of silicone and health effects associated with the usage of silicone hinder the market growth.
The Asia-Pacific silicone in electrical and electronics industry market offers promising opportunities for silicone manufacturers, owing to rise in population and rapid industrialization. In addition, increase in disposable incomes in developing economies, such as China, India, and Japan majorly fuels the market growth.
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