North America Silicone Market (By Product: Fluids, Gels, Resins, Elastomers; By End-use: Electronics, Transportation, Construction, Energy, Healthcare) - Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The North America silicone market was estimated at USD 4.33 billion in 2022 and it is expected to surpass around USD 7.5 billion by 2032, poised to grow at a CAGR of 5.65% from 2023 to 2032.

Key Pointers

• In terms of product, the fluid segment led the market and held a revenue share of over 45% in 2022. 
• In terms of end-use, the industrial processes segment led the market and held a revenue share of more than 24% in 2022. 

Report Scope of the North America Silicone Market

The market is poised for growth due to increasing demand across multiple industries, such as automotive, construction, electronics, healthcare, and consumer goods. Silicone's versatility and wide range of applications, including sealants, adhesives, coatings, and elastomers, make it a sought-after material. In addition, the market is driven by the growing emphasis on sustainability, as silicone offers eco-friendly properties, recyclability, durability, and low toxicity. Technological advancements in silicone manufacturing processes and product innovations are further contributing to market expansion, enabling improved performance, and opening doors to new applications over the forecast period.

The U.S. silicone 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, such as electric vehicles (EVs) and health & personal care, which, in turn, is expected to fuel the market growth over the forecast period. Moreover, suppliers continue gaining market share through value-added product development and creating inroads into applications that conventionally use other materials.

Several states in the U.S., including California, New Jersey, Washington, and Louisiana, are using tax credits, exemptions, and rebates to fuel the procurement of EVs. New Jersey and Washington exempt EVs' sale and use tax, 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 EVs, which, in turn, is projected to fuel the consumption of silicone over the forecast period. The silicone market in the U.S. is witnessing significant growth and playing a pivotal role in various industries. Silicone, a versatile polymer known for its exceptional properties, is finding widespread applications across the country.

Product Insights

In terms of product, the fluid segment led the market and held a revenue share of over 45% in 2022. This growth can be attributed to its remarkable versatility and widespread utility. Silicone fluids exhibit a broad spectrum of viscosities, allowing them to serve a multitude of industries and applications. Their adaptability makes them a vital ingredient in a diverse range of products, including personal care items like shampoos and cosmetics, automotive fluids for lubrication and cooling, and various industrial applications. The exceptional thermal stability of silicone fluids makes them suitable for high-temperature environments, and their excellent electrical insulation properties add to their appeal in electronic and electrical applications.

The dominance of the fluid segment is reinforced by the reliability and trust that the industry places in silicone fluids. Their resistance to extreme temperatures, chemical inertness, and low toxicity make them a preferred choice in critical applications. In addition, the ease of handling and formulation flexibility further bolster their popularity among manufacturers. Therefore, the fluid segment has firmly established itself as the go-to solution in the North America silicone industry, meeting the diverse demands of different industries and solidifying its position as the primary driver of the market's growth.

End-use Insights

In terms of end-use, the industrial processes segment led the market and held a revenue share of more than 24% in 2022. This is attributed to the remarkable properties of silicone that cater to a wide array of industrial applications. Silicone's unique characteristics, such as high thermal stability, excellent electrical insulation, and resistance to chemicals, make it highly sought after in various industrial settings. Silicone finds extensive use in industries such as automotive, electronics, construction, and aerospace, where it serves as a crucial component in coatings, lubricants, adhesives and sealants. Its ability to withstand extreme temperatures and harsh environments makes it invaluable in industrial processes, where reliability and performance are of utmost importance.

The adaptability of silicone to different manufacturing processes further solidifies its dominance in the industrial sector. Its versatility allows it to be molded into various forms, such as gels, fluids, and rubbers, making it an ideal material for diverse industrial applications. With such a wide range of benefits and applications, the industrial processes segment continues to drive the growth of the North America Silicone industry, meeting the specialized needs of industries and contributing to technological advancements across various sectors.

North America Silicone Market Segmentations:

By Product 

• Fluids
  • Straight Silicone Fluids
  • Modified Silicone Fluids
• Gels
• Resins
• Elastomers
  • High Temperature Vulcanized
  • Liquid Silicone Rubber
  • Room Temperature Vulcanized (RTV)
• Others
  • Adhesives
  • Emulsions

By End-use 

• Electronics
• Transportation
• Construction
• Healthcare
• Personal Care and Consumer goods
• Energy
• Industrial Processes
• Others