Silicones or poly-siloxanes are polymers comprising synthetic compounds made up of repeating monomers of siloxane, bonds of alternating silicon atoms and oxygen atoms, synthesized with carbon, hydrogen, and other elements. According to BlueQuark Research & Consulting, the global silicones market is expected to witness a significant growth rate during the forecast period. Factors like the rising demand for silicone from the construction sector as its usage in structural glazing and weatherproofing, while providing the buildings' energy efficiency, are likely to drive the global silicone market during the forecasted period. Further, the growing application of silicone in the paper, leather packaging, labels, textiles, and airbags is expected to drive the demand for silicone over the forecasted period. Furthermore, the increasing demand for lightweight automobile parts and surging research and development activities to develop new and innovative products are anticipated to propel overall industrial growth over the forecast period. However, stringent regulatory policies and silicone's fluctuating raw material prices will hinder the market's growth.

Silicone is used for various personal care applications, such as reducing the white residue and tacky feel of antiperspirants in deodorants. In addition, it also enables to retain the color and luster associated with cosmetics, shampoos, and conditioners and imparts a better shine. Some of the other application areas include industrial, electronics, machinery, construction, and medical segments.

The construction industry is probable to propel the market as advanced architecture is the demand of the modern construction era. The aesthetically appealing glass frontages and skyscrapers for building, offices, hotels, etc., fill the current infrastructural setting. Therefore, silicone fulfills this purpose by providing improved in-shop productivity, extending building life, reducing material waste, and reducing lifecycle costs. Silicone sealant safeguard materials employed in complex designs to stay glued and manage tension and movement. In the construction industry, silicones are worn in structural glazing and weatherproofing while contributing to the energy efficiency of the buildings. They also help improve in-shop productivity, decrease material waste, extend building life, and reduce lifecycle costs. Additionally, silicones are utilized to seal joints and openings in various applications in construction (including attaching metal, glass, or other panel materials) in a building's metal framing system, roofing, flashing penetrations and terminations, building material expansion joints, and interior perimeters of doors, and baseboards and moldings. Silicones are one of the most flexible products used in various industries. They have unique properties like durability, dielectricity, foam control, discharge safety, UV stability, glossiness, transparency, radiation resistance, hydrophobicity, heat resistance, adhesion, and flexibility, which enable them to be used in myriad forms and applications. This long-lasting and highly resistant material is best suited for utilizing in temperatures higher than 100°C (the limit of most other rubbers). Advanced architecture is the demand of the modern construction era. Aesthetically appealing glass frontages or arched and suspended structures and skyscrapers fill the current infrastructural setting. Silicone sealants safeguard materials employed in complex designs to stay glued and manage tension and movement from natural calamities like wind or earthquakes.

The Asia Pacific continues to hold domination during the forecast period due to the fast-growing automotive sector and rising awareness among consumers against the injurious effects of plastic in the region. Further, huge expenditure is sustained on infrastructures in developing nations, like China and India, driving the silicone market in the area. For instance, Asian multinational enterprises are constructing various power plants with target operational years between 2018 and 2020. The rising demand for silicone in different end-use industries, consisting of personal care, industrial process, construction, and consumer goods, is expected to drive global market growth. Properties such as chemical stability, versatility, and high resistance to temperature are expected to fuel the fuel for silicone in the aforementioned end-user industries. Silicones are polymers or higher oligomers showing many physical forms from solid to water-thin liquids, semi-viscous pastes, greases, and oils. They offer a mess of distinctive properties like a seal, lubricate, bond, release, defoam and encapsulate. The silicones conduct electricity and don't harden, crack, peel, crumble, rot, or brittle with age and may even insulate, waterproof, and coat. Silicones are specialty materials known for their high performance. Increasing product demand regarding the electronics sector is likely to uplift the global silicone market due to its high resistance to moisture, weather, UV radiation, and moisture and increased thermal stability. In addition, growing demand regarding lightweight materials in the automobile sector and rising research activities regarding product innovation are expected to speed the entire industrial development in the coming years. Medical grade silicone elastomers are examined for biocompatibility and are capable for the healthcare industry. Due to their low toxicity, silicone elastomers used for medical applications present a low risk of unfavorable biological reactions and have, thus, gained acceptance in food and medical application. However, bacteria and other microorganisms can stimulate silicone elastomer characteristics. Biocides are worn to fight these microorganisms and prevent the build-up of harmful bacteria that surge the risk of transmission of infections in humans. The factors mentioned above contribute to the rising demand for the silicone market in the region during the forecast period.

In the year 2019, the global silicone market was fragmented with major players, including Dow, Elkem Silicones, Momentive, Shin-Etsu Chemical Co. Ltd, Wacker Chemie AG, and Evonik Industries AG. 

In August 2019, Elkem ASA acquire Basel Chemie, a South Korean manufacturer of silicone gels for water repellents and cosmetics. This acquisition helped Elkem cater to a broad range of end-users. Moreover, In May 2019, The Investor Groups (involves SJL Partners, KCC Corporation, and Wonik QnC Corporation) acquired Momentive. This acquisition is predicted to strengthen the position and geographic reach of Momentive Performance Chemicals, and it will also expand the company's financial part and product portfolio.

Global Silicone Market report provides deep insight into the current and future state of the worldwide silicone market across various regions. The study comprehensively analyzes the Global Silicone Market by segmenting based on geography, Form Type (Fluids, Elastomers, Resins, Others), and Application (Construction, Energy and Electronics, Healthcare, Automotive, Industrial Processes, Personal Care and Consumer Products, and Others). The report examines the market drivers and restraints that influence growth in detail. The study covers & includes emerging market size, trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of prominent companies, including their market shares and projects.