Europe Silicone Market Outlook, 2029
The Europe Silicone Market is segmented into By Material Type (Elastomers, Fluids, Resins, Gels & Other Product), By End User Industries (Industrial Use & Energy, Building And Construction, Electronic, Transportation, Health Care, Personal Care And Consumer Product, Others).
- Bonafide Research
- 31-01-2024
- Pages : 90
- Figures : 15
- Tables : 21
- Region : Europe
- Category : Chemical & Material
- Metal & Mineral
The Europe Silicon market is projected to add more than USD 2.5 Billion from 2024 to 2029 due to stringent regulations promoting energy efficiency
- Historical Period2018-2023
- Base Year2023
- Forecast Period2024-2029
- Largest MarketGermany
- Fastest Market Spain
- Market Difference(2024-2029) USD 2.5
- Format
Featured Companies
- 1. Wacker Chemie AG
- 2. The Dow Chemical Company
- 3. Evonik Industries AG
- 4. Mitsubishi Chemical Group Corporation
- 5. Shin-Etsu Chemical Co., Ltd.
- 6. Elkem ASA
- More...
Silicone Market Market Analysis
The European Silicon Market stands as a pivotal player in the global silicon industry, characterised by its diverse applications across sectors. Silicon, a crucial semiconductor material, finds extensive use in electronics, solar energy, construction, and various other industries. Europe is known for its focus on research and innovation. Ongoing research activities in materials science, semiconductor technologies, and silicon applications drive advancements in the European Silicon Market. Collaborations between academia and industry contribute to cutting-edge developments. The adoption of emerging technologies, such as the Internet of Things (IoT), artificial intelligence (AI), and 5G, drives additional demand for silicon in Europe. These technologies rely on advanced semiconductor components. Furthermore, the European Union's research and innovation programmes, such as Horizon 2020 (2014–2020) and its successor Horizon Europe (2021–2027), allocate funding for projects promoting technological advancements, including those in semiconductor technologies and materials like silicon. Europe's Circular Economy Action Plan focuses on sustainable resource use and minimising waste. It encourages the development of eco-design principles, which influence the manufacturing processes and lifecycle of products containing silicon. The EU's industrial strategy focuses on strengthening the resilience and competitiveness of European industries. Measures to support innovation, research, and the adoption of advanced technologies can impact the silicon market. Silicon is a crucial component in the automotive sector, especially in the production of semiconductors, sensors, and electronic control units. The growing trend towards electric vehicles (EVs) and advanced driver-assistance systems (ADAS) contributes to the demand for silicon in the European automotive market. According to the research report "Europe Silicon Market Outlook, 2029," published by Bonafide Research, the Europe Silicon market is projected to add more than USD 2.5 Billion from 2024 to 2029. Europe's growth in the silicon market can be attributed to its commitment to technological advancements and sustainability. The region has positioned itself as a leader in innovation, particularly in the electronics and semiconductor industries. As Europe embraces digitalization, the demand for high-performance computing, artificial intelligence, and connected devices has surged, propelling the need for silicon. Additionally, the continent's dedication to sustainability aligns with the growing global focus on renewable energy sources. Silicon, a crucial component in solar photovoltaic cells, is in high demand as Europe expands its solar energy capacity. Moreover, the construction sector benefits from silicon-based materials that enhance energy efficiency and durability. Europe's proactive policies and initiatives, such as the European Green Deal and programmes like Horizon Europe, not only support research and development but also promote eco-friendly technologies. This strategic approach, combining technological leadership with environmental responsibility, positions Europe at the forefront of the silicon market's growth, attracting investments and fostering a dynamic and competitive silicon industry in the region. In Europe, the silicon industry generates about 10 billion euros in annual turnover, and in the region, over 180 million metric tonnes of production containing silicones and silanes are sold in Europe every year.
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Download SampleMarket Dynamic
Market Drivers • Technological Innovation: Europe's emphasis on technological innovation, especially in the electronics and semiconductor sectors, is a significant driver of the silicon market. Silicon is a fundamental material for semiconductor manufacturing, and Europe's commitment to staying at the forefront of technological advancements fuels the demand for silicon-based components. • Renewable Energy Transition: Europe's ambitious goals for transitioning to renewable energy sources drive the demand for silicon in the solar energy sector. Silicon is a crucial material in the production of photovoltaic cells used in solar panels, supporting the continent's shift towards sustainable and green energy solutions. Market Challenges • Raw Material Availability and Pricing: The availability and pricing of raw materials, including quartz and other elements used in silicon production, pose challenges. Fluctuations in raw material prices and potential shortages can influence production costs and market dynamics, impacting the competitiveness of the European silicon market. • Dependency on End-User Industries: The silicon market's dependence on end-user industries, such as electronics, construction, and automotive, exposes it to fluctuations in these sectors. Economic downturns, shifts in consumer preferences, or disruptions in specific industries can directly impact the demand for silicon-based products. Market opportunity • Electric Vehicles (EVs) and Automotive Electronics: The increasing adoption of electric vehicles and the growth of automotive electronics present opportunities for the silicon market. Silicon is a crucial component in semiconductors, sensors, and control systems, contributing to the development of advanced technologies in electric and connected vehicles. • Digitalization and 5G Technology: The ongoing digitalization trend and the deployment of 5G technology offer opportunities for the silicon market. High-performance silicon-based components are essential for the development of advanced computing systems, telecommunications infrastructure, and devices connected to the Internet of Things (IoT).
Silicone Market Segmentation
| By Material Type | Elastomers | |
| Fluids | ||
| Resins | ||
| Gels & other product | ||
| By End User | Industrial use & energy | |
| Building and construction | ||
| Electronic | ||
| Transportation | ||
| Health care | ||
| Personal care and consumer product | ||
| Others | ||
| Europe | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Russia | ||
Based on the material types, which are segmented into elastomers, fluids, resins, gels, and others, among them in Europe, the fluids contribute the significant market share. Silicon elastomers offer exceptional versatility and performance, making them suitable for a wide range of applications. Industries in Europe require flexible and durable materials with specific properties; silicon elastomers could become the material of choice. Silicones, including silicon elastomers, are commonly used in healthcare and medical applications due to their biocompatibility and resistance to sterilisation processes. If there's a growing demand for medical devices and implants in Europe, it could contribute to the prominence of silicon elastomers. Silicones are used in various forms in the automotive and electronics industries. Silicon elastomers might be preferred in these sectors for their ability to withstand high temperatures, vibrations, and environmental exposure, meeting the stringent requirements of these industries. Silicon elastomers are commonly used in the construction industry for sealants and adhesives. There's a surge in construction activities in Europe, the demand for silicon elastomers could increase. In terms of end users, they are segmented into, industrial use and energy, building and construction, electronics, transportation, health care, personal care, consumer products, and others. In Europe, the demand for personal care and consumer products is growing. In this region, European consumers often prioritise high-quality and premium personal care products. Silicones contribute to the luxurious feel and performance of these products, aligning with consumer preferences for items that offer a superior sensory experience. The European personal care industry is characterised by continuous innovation in formulations. Silicones enable formulators to create innovative and technologically advanced products that stand out in the market. This emphasis on innovation drives the demand for silicon in new and improved formulations. Silicones, particularly those designed for personal care, are known for their biocompatibility and low environmental impact. Manufacturers in Europe are increasingly focusing on sustainable and eco-friendly formulations. Silicones can be part of formulations that meet these environmental considerations, contributing to their growing demand. Sustainability is a key trend in the European personal care market. Silicones, when formulated responsibly, can align with sustainability goals. Manufacturers are exploring sustainable sourcing of silicones and promoting recycling initiatives, responding to consumer demands for eco-friendly beauty products.
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Silicone Market Market Regional Insights
Based on the report, the major countries covered in this report include Germany, the United Kingdom, France, Italy, Spain, Russia, and the rest of Europe. Among them in Europe, Germany holds the largest market share. Germany has a robust and diversified industrial base, including manufacturing, automotive, electronics, and chemical industries. Silicon finds widespread applications in these sectors, contributing to the high demand for silicon-based products. Germany is home to some of the world's leading automotive manufacturers. Silicon is extensively used in the automotive sector for the production of components such as sensors, semiconductors, and elastomers. The growing emphasis on electric vehicles (EVs) and advanced automotive technologies further increases the demand for silicon. Germany is a key player in the European electronics and semiconductor industries. Silicon is a fundamental material for semiconductor manufacturing, and Germany's advanced technology infrastructure and expertise in these fields contribute to a significant demand for silicon. The chemical industry in Germany is substantial, and silicon is a crucial component in various chemical processes. Silicones, derived from silicon, are widely used in the production of chemicals, sealants, adhesives, and elastomers, contributing to the overall demand for silicon. Germany has been a pioneer in renewable energy, particularly solar power. Silicon is a key material in photovoltaic cells used in solar panels. The country's commitment to sustainable energy solutions has led to a significant demand for silicon in the photovoltaic industry.
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Key Development
Companies Mentioned
- Wacker Chemie AG
- The Dow Chemical Company
- Evonik Industries AG
- Mitsubishi Chemical Group Corporation
- Shin-Etsu Chemical Co., Ltd.
- Elkem ASA
- Oldrati Group
- Momentive Performance Materials, Inc.
- BRB International
- Wynca Group
- DyStar Group
- Innospec Inc
Table of Contents
- Table of Contents
- 1. Executive Summary
- 2. Research Methodology
- 2.1. Secondary Research
- 2.2. Primary Data Collection
- 2.3. Market Formation & Validation
- 2.4. Report Writing, Quality Check & Delivery
- 3. Market Structure
- 3.1. Market Considerate
- 3.2. Assumptions
- 3.3. Limitations
- 3.4. Abbreviations
- 3.5. Sources
- 3.6. Definitions
- 4. Economic /Demographic Snapshot
- 5. Global Silicone Market Outlook
- 5.1. Market Size By Value
- 5.2. Market Share By Region
- 5.3. Market Size and Forecast, By Material Type
- 5.4. Market Size and Forecast, By End User
- 6. Europe Silicone Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Country
- 6.3. Market Size and Forecast, By Material Type
- 7. Market Dynamics
- 7.1. Market Drivers & Opportunities
- 7.2. Market Restraints & Challenges
- 7.3. Market Trends
- 7.4. Covid-19 Effect
- 7.5. Supply chain Analysis
- 7.6. Policy & Regulatory Framework
- 7.7. Industry Experts Views
- 7.8. Market Size and Forecast, By End User
- 7.9. Germany Silicone Market Outlook
- 7.9.1. Market Size By Value
- 7.9.2. Market Size and Forecast By Material Type
- 7.9.3. Market Size and Forecast By End User
- 7.10. United Kingdom Silicone Market Outlook
- 7.10.1. Market Size By Value
- 7.10.2. Market Size and Forecast By Material Type
- 7.10.3. Market Size and Forecast By End User
- 7.11. France Silicone Market Outlook
- 7.11.1. Market Size By Value
- 7.11.2. Market Size and Forecast By Material Type
- 7.11.3. Market Size and Forecast By End User
- 7.12. Italy Silicone Market Outlook
- 7.12.1. Market Size By Value
- 7.12.2. Market Size and Forecast By Material Type
- 7.12.3. Market Size and Forecast By End User
- 7.13. Spain Silicone Market Outlook
- 7.13.1. Market Size By Value
- 7.13.2. Market Size and Forecast By Material Type
- 7.13.3. Market Size and Forecast By End User
- 7.14. Russia Silicone Market Outlook
- 7.14.1. Market Size By Value
- 7.14.2. Market Size and Forecast By Material Type
- 7.14.3. Market Size and Forecast By End User
- 8. Competitive Landscape
- 8.1. Competitive Dashboard
- 8.2. Business Strategies Adopted by Key Players
- 8.3. Key Players Market Positioning Matrix
- 8.4. Porter's Five Forces
- 8.5. Company Profile
- 8.5.1. Dow Inc
- 8.5.1.1. Company Snapshot
- 8.5.1.2. Company Overview
- 8.5.1.3. Financial Highlights
- 8.5.1.4. Geographic Insights
- 8.5.1.5. Business Segment & Performance
- 8.5.1.6. Product Portfolio
- 8.5.1.7. Key Executives
- 8.5.1.8. Strategic Moves & Developments
- 8.5.2. Shin-Etsu Chemical Co., Ltd.
- 8.5.3. Wacker Chemie AG
- 8.5.4. Elkem ASA
- 8.5.5. oldrati group
- 8.5.6. Evonik Industries AG
- 8.5.7. The CHT Group
- 8.5.8. Momentive Performance Materials, Inc.
- 8.5.9. The Mitsubishi Chemical Group
- 8.5.10. Wynca Group
- 8.5.11. DyStar Group
- 8.5.12. Innospec Inc
- 9. Strategic Recommendations
- 10. Annexure
- 10.1. FAQ`s
- 10.2. Notes
- 10.3. Related Reports
- 11. Disclaimer
Table 1: Global Silicone Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Silicone Market Size and Forecast, By Material Type (2018 to 2029F) (In USD Billion)
Table 6: Global Silicone Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 7: Europe Silicone Market Size and Forecast, By Material Type (2018 to 2029F) (In USD Billion)
Table 8: Influencing Factors for Silicone Market, 2023
Table 9: Europe Silicone Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 10: Germany Silicone Market Size and Forecast By Material Type (2018 to 2029F) (In USD Billion)
Table 11: Germany Silicone Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 12: United Kingdom Silicone Market Size and Forecast By Material Type (2018 to 2029F) (In USD Billion)
Table 13: United Kingdom Silicone Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 14: France Silicone Market Size and Forecast By Material Type (2018 to 2029F) (In USD Billion)
Table 15: France Silicone Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 16: Italy Silicone Market Size and Forecast By Material Type (2018 to 2029F) (In USD Billion)
Table 17: Italy Silicone Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 18: Spain Silicone Market Size and Forecast By Material Type (2018 to 2029F) (In USD Billion)
Table 19: Spain Silicone Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 20: Russia Silicone Market Size and Forecast By Material Type (2018 to 2029F) (In USD Billion)
Table 21: Russia Silicone Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Figure 1: Global Silicone Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Silicone Market Share By Region (2023)
Figure 6: Europe Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: Europe Silicone Market Share By Country (2023)
Figure 8: Germany Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: UK Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: France Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Italy Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: Spain Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: Russia Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 14: Competitive Dashboard of top 5 players, 2023
Figure 15: Porter's Five Forces of Global Silicone Market
Silicone Market Market Research FAQs
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