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

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.

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).

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 May 2025? The Silicone Rubber Price Index in North America saw a quarter-on-quarter decline of 1.62% in Q1 2025. January opened with upward momentum, fueled by tight supply, firm feedstock prices, and consistent demand from construction, aerospace, and electronics sectors.

The average silicone export price stood at $2,526 per ton in February 2025, leveling off at 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.

Silicone oil prices in North America showed an upward trend in Q1 2025, driven by strong demand from key sectors such as automotive, aerospace, electronics, and personal care. The price increase was influenced by persistent supply-side challenges, including rising raw material costs, especially due to fluctuations in crude oil prices. Crude oil price volatility had a direct impact on the cost of key raw materials for silicone oil production, such as siloxanes and energy-intensive production processes. Logistical disruptions, including port congestion on the U.S. West Coast and transportation delays, further compounded supply chain issues, raising shipping and storage costs.

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.

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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. Cros

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.

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.

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

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.

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.

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

Silicone imports into India was estimated at 89K tons in 2023, with an increase of 3.8% compared with the previous year.

Graph and download economic data for Producer Price Index by Commodity: Rubber and Plastic Products: All Other Consumer, Institutional, and Commercial Products (WPU072B01) from Dec 2006 to May 2025 about rubber, plastics, commercial, consumer, commodities, PPI, inflation, price index, indexes, price, and USA.

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.

In 2023, supplies from abroad of silicones (in primary forms) decreased by -11.9% to 57K tons, falling for the second consecutive year after two years of growth.