Silicone Gel Market Analysis | 2023-2028

Market Highlights

The Silicone Gel Market was estimated at US$ 1.43 billion in 2022 and is expected to grow at a CAGR of 7.1% during 2023-2028 to reach US$ 2.17 billion by 2028.

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What is Silicone Gel?

Silicone gel is a versatile, transparent, and rubbery substance composed of silicone polymers. Its exceptional properties, such as flexibility, thermal stability, and resistance to moisture and chemicals, make it widely used in various applications.

Market Drivers

The adaptability and unique attributes make silicone gel indispensable in numerous industries and products. The rapid growth of the electrical and electronics sector as it protects components from moisture, dust, and mechanical stress and rises in demand for silicone gel for innovative applications, such as protective skin coverings, comfort pads, sealing applications in the medical industry, aerospace & defense, footwear, agriculture, and pharmaceutical sectors are the prime factors fueling the growth of the global silicone gel market.

Segments Analysis

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By End-Use Industry Type

The silicone gel market is segmented as electrical & electronics, medical & pharmaceuticals, cosmetics & personal care, and others. The electrical & electronics segment is estimated to dominate the market, in terms of value and volume, in the coming five years. The growth is owing to the superior characteristics of silicone gels, such as hydrophobicity, elevated dielectric breakdown, and confrontation with high and low temperatures, which qualify these gels to be employed in extreme and severe circumstances in the electrical & electronics sector.

Regional Analysis

In terms of regions, Asia-Pacific is the largest and fastest-growing region of the silicone gel market. The demand for silicone gel is owing to the development of end-use industries, viable manufacturing costs, and a high fiscal growth rate in the region. Further, the increasing use in the photovoltaic sector blended with the claim for small, low-cost, and cutting-edge electronic components in the foremost Asia-Pacific countries, such as China, India, Japan, and South Korea is bolstering the demand for silicone gel in this region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

Some of the major players in the silicone gel market are-

• DOW Corning Corporation
• Shin-Etsu Chemical Co., Ltd.
• Wacker Chemie AG
• Momentive Performance Materials Inc.
• Bluestar Silicones (Elkem Group)
• ACC Silicones Ltd.
• Gelest Inc.
• KCC Corporation
• Nusil Technology LLC.
• Henkel AG & Co.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players and those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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