Silicones are synthetic high-performance polymers made from silicon and oxygen, two of the most common elements found on the surface of the earth. They are one of the most versatile polymers existing today. Silicone exists in various forms, ranging from fluids, resins, and gels to tough, stiff, and strong elastomers. These are stable and inert compounds and are widely used in almost all the modern industries, including building & construction, transportation, personal care & consumer products, electronics, medical & healthcare, industrial process, energy, and others. The unique and useful properties of silicones such as low thermal conductivity, low chemical reactivity, low toxicity, and thermal stability make their products stronger, stable, user friendly, and durable.

The global silicone market is valued at USD 14.20 Billion in 2017. The market is witnessing growth due to the efficient and sustainable properties of silicone which makes it suitable for use in various end-use industries and growing demand for silicone in emerging clusters of Asia Pacific and the Middle East & Africa regions. Based on type, silicone elastomers was the largest segment of the global silicone market, in 2016. Elastomers are used extensively in end-use industries such as electronics, automotive, personal care, and medical. Silicone elastomers are corrosion and chemical resistant and are used widely in automotive and consumer goods industries. Properties such as biocompatibility, durability, and extreme temperature resistance make silicone elastomers suitable for medical and surgical applications as well. Silicone elastomers are also used extensively in the electronic industry because of their superior electric properties. Thus, the increasing demand for elastomers from the above mentioned end-use industries is expected to drive the silicone elastomers market globally. Based on end-use industry, industrial processes was the largest end-use industry segment of the silicone market in 2016. Increasing industrialization has led to a rise in industrial activities, subsequently leading to a growth in the demand for silicone for RTV adhesives and as anti-foaming agents in many industrial processes. This is expected to drive the market for industrial processes industry globally. Asia Pacific was the largest market for silicone in 2016. The region’s flourishing manufacturing sector, ample availability of labor, competitive cost base, and increasing consumer demand are expected to drive the market for silicone across the region. Furthermore, the influence of macroeconomic stimuli such as population growth, rise in disposable income, and most importantly the increasing investment for building & construction activities in Southeast Asian countries is also expected to make the region one of the most promising markets for silicone. The global silicone market is witnessing moderate growth. Factors restraining and challenging the growth of the silicone market are the stringent regulatory policies for silicone in some end-use industries and increasing raw material and energy prices.

Silicone Market vendors are placed into 4 categories based on their performance and reviews in each criterion: “visionary leaders,” “innovators,” “dynamic differentiators,” and “emerging companies".

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.