During the second quarter of 2024, the silicone rubber prices in the United States reached 9463 USD/MT in June. The market for USA saw a noticeable price increase due to growing energy and output costs, alongside strong the need from the vehicle and building sectors. Despite Boeing’s distribution issues, stable inventory and robust sector performance supported the overall favorable pricing trend.

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In 2024, the average price of ferrosilicon with 75 percent silicon content came to *** U.S. cents per pound, and silicon metal prices averaged 180 U.S. cents per pound. Silicon alloys and metals are important in various industries. Ferrosilicon is commonly used in ferrous foundries and steel industries, whereas silicon metal is often used for aluminum, aluminum alloys, and the chemical industry. Silicon is also often used for semiconductors in solar panels, computer chips, and as a part of the automotive industry. Silicon facts Pure silicon appears as a blue-grey metallic solid. Silicon is most commonly found paired with oxygen, forming silica. China produces a large percentage of the world’s silicon supply, contributing to about *** million metric tons in 2024. In comparison, Russia – the second largest producer worldwide – produced about ******* metric tons in the same year. U.S. silicon exports and consumption About ****** metric tons of silicon metal and ***** metric tons of ferrosilicon were exported from the United States in 2023. Meanwhile, consumption of silicon in the North American country averaged roughly ******* metric tons in recent years. Silicon is a diverse element, accounting for about 30 percent of the Earth’s crust and is one of the most abundant elements. Its versatility affords great use from the industrial sector. It is commonly used in the electronics industry, as part of cylinder heads or machine tools. It is also used in the commercial sector, for example, as an oil in cosmetics and hair conditioners.

Why did the Silicone Rubber Price Change in July 2025? The Spot Price for silicone rubber in North America fell by approximately 2.0% Q-o-Q in Q2 2025, as reflected in a softer Price Index.

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In the second quarter of 2024, metal silicon prices in the United States reached 2474 USD/MT in June. Stable industrial demand, particularly from the solar and automotive sectors, together with balanced supply, influenced this pricing. Year-on-year growth was remarkable, due to economic developments and advancements in technology, indicating a strong market environment.

Get the latest insights on price movement and trend analysis of Silicone Rubber in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Why did the Silicone Oil Price Change in July 2025? The Q2 2025 average Silicone Oil Price Index was USD 2300/MT, CFR Houston in June, a 5% rise above Q1 2025 because of inflation in cost, strong downstream demand, and volatility in freight.

The Chinese silicone market reached $2.6B in 2024, growing by 1.6% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $2.9B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

Why did the Silicon Metal Price Change in May 2025? The Silicon Metal Price Index in the US market settled in Q1 2025 at USD 2,751/MT CFR Illinois Port, showcasing continuous upward pressure throughout the quarter.

In the end of the last quarter, silicone oil prices in the United States saw a bearish trend. By the end of December the price settled at 2353 USD/MT. At last, the price of the product in China reached 3526 USD/MT. By December end, the price in the Germany settled at 3654 USD/MT.

The silicone (DMC) prices in the USA for fourth quarter of 2023 reached 3,122 USD/MT in December. The prices mostly declined throughout the latter half due to weak market conditions. There was a constant decrease in Q3, but costs began to stabilize in the fourth quarter as suppliers became more cautious, adopting a wait-and-see approach.

Explore IMARC’s newly published report, titled “Silicone (DMC) Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of silicone (DMC) pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

The average silicone export price stood at $10,199 per ton in February 2025, with a decrease of -16.2% against the previous month.

In 2023, overseas shipments of silicones (in primary forms) decreased by -41.4% to 52K tons, falling for the second consecutive year after two years of growth.

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Silicones Market Size 2024-2028

The silicones market size is forecast to increase by USD 8.76 billion, at a CAGR of 7.32% between 2023 and 2028.

The market is experiencing significant growth, driven by the expanding construction industry and increasing adoption in the electrical and electronics sectors. The construction industry's upward trend is fueling the demand for silicones due to their excellent thermal and electrical insulation properties, making them an essential component in various building applications. Additionally, the electronics industry's growing reliance on silicones for insulation, sealing, and encapsulation applications is further fueling market growth. However, the market faces challenges due to the fluctuating prices of raw materials, primarily silica and methanol, which can impact the profitability of silicones manufacturers.
These volatile prices can impact the cost structure of silicone manufacturers, potentially leading to price fluctuations in the market and affecting their profitability. Companies operating in this market must closely monitor raw material prices and adapt their strategies accordingly to maintain competitiveness and mitigate risks.

What will be the Size of the Silicones Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market showcases a dynamic and evolving landscape, with ongoing advancements and innovations shaping its various sectors. Silicone fillers play a crucial role in enhancing the properties of silicone resins, while medical applications continue to expand, driven by the biocompatibility and biodegradability of these materials. Silicone extrusion processes enable the production of diverse shapes and sizes, from tubing to profiles, while sealants ensure airtight and watertight bonds. Surface treatment and coatings enhance silicone's durability and resistance to environmental factors, such as heat, weather, and chemicals. Dielectric properties make silicones indispensable in the electronics industry, while anti-fouling and release agents cater to the maritime sector.

Silicone fluids serve as essential lubricants and coolants, and their chemical resistance is a key factor in numerous industrial applications. Adhesives, gels, rubbers, and elastomers expand the versatility of silicones, catering to diverse industries, including automotive, construction, and aerospace. The continuous pursuit of sustainability drives research into biodegradable silicones and eco-friendly production methods. Silicones' adaptability and performance make them a valuable asset in numerous industries, with ongoing advancements ensuring their relevance and growth in the market.

How is this Silicones Industry segmented?

The silicones industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Elastomers
  Fluids
  Resins
  Gels and others


End-user

  Industrial process
  Construction
  Personal care and consumer products
  Transportation
  Others


Application

  Industrial Process
  Construction
  Automotive
  Electronics
  Personal Care & Consumer Products
  Healthcare
  Energy


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Product Insights

The elastomers segment is estimated to witness significant growth during the forecast period.

Silicone elastomers, a type of high-performance polymer, are manufactured by combining straight-chained, reactive, and linear polymer molecules with crosslinkers, reinforcements, and catalysts. This process results in elastomers with superior absorption, elasticity, and tear strength. Silicone elastomers come in various forms, including room-temperature vulcanized liquid silicone rubber and high-temperature vulcanized or heat-cured rubber. The selection of elastomer type depends on the characteristics of the straight-chain molecules and processing temperature. Silicone elastomers exhibit desirable properties, such as weatherability, thermal conductivity, heat and cold resistance, flame retardancy, electrical conductivity, gas permeability, vibration absorption, radiation resistance, tensile and tear strength, and ozone and UV resistance.

These properties make silicone elastomers suitable for diverse applications, including automotive, construction, electronics, healthcare, and aerospace industries. Crosslinking and vulcanization processes enhance the mechanical properties of silicone elastomers.

In 2024, the UK silicone market decreased by -11.1% to $356M, falling for the second year in a row after two years of growth. In general, the total consumption indicated a noticeable increase from 2012 to 2024: its value increased at an average annual rate of +3.3% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -23.2% against 2022 indices.

For the fourth consecutive year, Turkey recorded growth in supplies from abroad of silicones (in primary forms), which increased by 5.8% to 49K tons in 2023.

In the fourth quarter of 2023, the price of silicon in the USA reached 2207 USD/MT by December. Similarly, in China, the silicon prices hit 2044 USD/MT in the same month. Germany also saw silicon prices reaching 2169 USD/MT during Q4 2023.

Explore IMARC’s newly published report, titled “Silicon Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of silicon pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

The global Silicon Oil market was valued at USD 4.3 billion in 2022 and will reach USD 7.22 billion by 2030, registering a CAGR of 6.7% for the forecast period 2023-2030.

Growing demand for cosmetics products:

According to the Environmental Working Group study, moderate man uses five to six personal care products, women use ten to twelve, and the average teenage girl uses sixteen personal care products in America. The demand for silicon oil in the cosmetic industry is increasing. Silicon in cosmetic products offers natural lubrication, adding more slip and glide to cosmetics, reducing stickiness on the skin and a sticky feeling in hair, improving hair's softness, and reducing fizziness even in high humidity. Silicone oil and polydimethylsiloxane are used in the production of cosmetics to improve the performance of cosmetics. Hence growing demand for cosmetic products results in increasing demand for the silicon oil market.

High demand across the automobile industry: 

According to the CEIC data, India Motor Vehicles Sales grew by 2.8% in March 2022. The rising income of the middle class and the increased population of youth is rapidly increasing the use of vehicles. Silicon oil is used in vehicles for seat belt lubrication, damper oil for meters, damper material for the interior parts, hard coating agents for plastics, processing, and modification of synthetic leather seats, and in auto paint additives. Hence silicon oil has wide applications in the automobile industry. Increasing demand for silicon oil in the automobile industry will drive the Silicon Oil market.

Growing demand from the textile industry to propel market growth

Restraining Factor:

Volatile prices of raw materials:

The cost and availability of the raw material of silicon oil are highly unstable. The major cause for restraining the growth of the Silicon Oil market is volatile prices. The sudden increase in the prices of raw silicon fluctuates the prices of silicon oil. Fluctuating prices of the raw material harm the market. Hence volatile prices of raw materials hinder the growth of the Silicon Oil market.

Impact of the COVID-19 Pandemic on the Silicon Oil Market:

The outbreak of COVID-19 has witnessed a negative impact on the Silicon Oil market growth. During the pandemic, the government implemented lockdowns in various parts of the country which limited the movement of over 138 crore population of India. The lockdown disrupted the manufacturing of various end-use industries which negatively impacted the Silicon Oil market. As the outbreak of the virus was from China, the Asia-Pacific region has to face major problems regarding manufacturing which altogether hindered the growth of the market in the Asia-Pacific region. Post-pandemic all the activities resumed and witnessed a positive impact. The problems related to manufacturing, labor shortage, and supply chain of industries like automotive, construction, cosmetics, and electronics were online. Hence development in end-use industries boosted the Silicon Oil market after the pandemic. A silicone oil is any liquid polymerized siloxane with organic side chains with relatively high thermal stability and lubricating properties. Silicone oil is a colorless, tasteless, non-toxic, transparent, non-volatile liquid, non-corrosive to metals, low freezing point, and with good water resistance. Silicon oil is used as a damping fluid, thermal bath fluid, lubricant, dielectric fluid, cosmetic products, paint additives, and pharmaceuticals. Silicone oils offer great thermal stability and flexible and flowable forms at extreme temperatures. Silicon oil is used as an antifoaming agent in the chemical, pharmaceutical, and food industries. It is widely used in pharmaceuticals and cosmetics as head oil, hair cream, hair-forming agent, solid hair-forming agent, and sunscreen agent. In the electrical and electronic industry, silicon oil is used for high-temperature dielectric liquid. Hence growing demand from all such end-use industries like Automotive, Chemical, Construction, Electronics, Medical, Personal Care, Textile, and Others boost the Silicon Oil market. The fluctuating cost of raw materials hinders the growth of the Silicon Oil market.

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