Middle East & Africa Silicone Market Outlook, 2029
The Middle East & Africa 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 : 73
- Figures : 12
- Tables : 15
- Region : MEA
- Category : Chemical & Material
- Metal & Mineral
The Middle East & Africa Silicon market is expected to reach a market size of more than USD 1.50 Billion by 2029 due to rise in Infrastructure development projects
- Historical Period2018-2023
- Base Year2023
- Forecast Period2024-2029
- Market Size (2029) USD 1.5 Billion
- Largest Market South Africa
- Fastest Market South Africa
- Format
Featured Companies
- 1. Wacker Chemie AG
- 2. The Dow Chemical Company
- 3. Evonik Industries AG
- 4. Mitsubishi Chemical Group Corporation
- 5. Elkem ASA
- 6. The CHT Group
- More...
Silicone Market Market Analysis
The silicon market in the Middle East and Africa (MEA) stands at the intersection of technological advancement, industrial diversification, and sustainable innovation. As a region with a dynamic economic landscape and a wealth of natural resources, MEA countries such as Saudi Arabia, the United Arab Emirates (UAE), and South Africa play pivotal roles in shaping the trajectory of the global silicon market. Silicon, a versatile element with applications spanning construction, electronics, healthcare, and renewable energy, becomes a linchpin in the region's pursuit of economic resilience and technological excellence. From the gleaming skyscrapers of the UAE to the sprawling solar farms in Saudi Arabia, Silicon's impact resonates across diverse sectors, driving advancements in infrastructure, electronics manufacturing, healthcare technology, and sustainable energy solutions. Furthermore, certain countries in the Middle East and Africa have government initiatives that include Saudi Arabia's Vision 2030 outlines ambitious goals for the country, including a significant focus on renewable energy. The government has been investing in solar energy projects, driving the demand for silicon in the production of photovoltaic cells for solar panels. The Dubai Silicon Oasis Authority in the UAE has been fostering innovation and technological advancements. The initiative includes creating a technology park and providing an ecosystem for tech companies, potentially boosting the demand for silicon in various applications. Governments in the MEA region have been supporting research and development (R&D) in technology and innovation. Investing in R&D can lead to advancements in silicon-based technologies and applications. The development of smart cities in the UAE and Saudi Arabia involves the integration of advanced technologies. Silicon plays a vital role in smart city infrastructure, such as sensors and semiconductors, contributing to initiatives aimed at enhancing urban living and sustainability. According to the research report "Middle East & Africa Silicon Market Outlook, 2029," published by Bonafide Research, the Middle East & Africa Silicon market is expected to reach a market size of more than USD 1.50 Billion by 2029. The region is actively working on economic diversification beyond traditional sectors like oil and gas. Silicon is essential in various industries, including electronics, construction, and healthcare, contributing to economic diversification goals. Many cities in the Middle East are investing in smart city initiatives. Silicon plays a crucial role in the development of smart city infrastructure, including sensors, semiconductors, and connectivity solutions, contributing to the growth of the silicon market. Furthermore, the region is witnessing a construction boom with numerous infrastructure and real estate projects. Silicon-based products, such as sealants, adhesives, and coatings, are in demand for construction applications, enhancing durability and weather resistance. Many cities in the Middle East are investing in smart city initiatives. Silicon plays a crucial role in the development of smart city infrastructure, including sensors, semiconductors, and connectivity solutions, contributing to the growth of the silicon market. As the automotive sector expands in the region, silicon is increasingly used in the production of automotive components such as sensors and elastomers. The growth of manufacturing industries further boosts the demand for silicon-based materials.
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Download SampleMarket Dynamic
Market Drivers • Economic Diversification: MEA countries are actively working on economic diversification strategies to reduce dependence on traditional sectors like oil and gas. Silicone plays a key role in supporting diversification, as it is utilised in various industries, including electronics, construction, and healthcare. • Construction and Infrastructure Development: The ongoing construction boom in the Middle East and Africa requires materials with enhanced durability and weather resistance. Silicon-based products, such as sealants and adhesives, are in demand for construction applications, supporting the region's infrastructure development projects. Market Challenges • Raw Material Availability: Ensuring a stable supply of raw materials, such as quartz and carbon, is crucial for silicon production. MEA countries may face challenges related to the availability, extraction, and processing of these raw materials, impacting the overall supply chain. • Circular Economy Adoption: The adoption of circular economy principles, including recycling and sustainable practices in silicon-related industries, is a challenge. Developing effective recycling technologies for silicon-based products is crucial for reducing environmental impact and promoting sustainability. Market Opportunity • Technological Innovation and Smart Cities: MEA countries, especially the UAE, are investing in technological innovation and the development of smart cities. Silicon is a fundamental component in high-tech applications, including sensors, semiconductors, and connectivity solutions, creating opportunities for silicon-related industries. • Healthcare Technology Advancements: The growth of the healthcare sector in the MEA region presents opportunities for silicon in medical devices, implants, and pharmaceuticals. Silicon's biocompatibility aligns with advancements in healthcare technology and patient care.
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 | ||
| MEA | United Arab Emirates | |
| Saudi Arabia | ||
| South Africa | ||
Based on the material types, which are segmented into elastomers, fluids, resins, gels, and others, among them in the Middle East and Africa, the resins contribute the most to the significant market share. Resins, especially epoxy resins, are commonly used in the construction industry for various applications, such as adhesives, coatings, and sealants. If there is a surge in construction and infrastructure projects in the Middle East and Africa, the demand for resins will increase due to their versatile applications in this sector. Resins, including those with silicon components, are known for their advanced properties such as durability, adhesion, and resistance to harsh environmental conditions. As industries in the Middle East and Africa adopt advanced materials for various applications, there could be a growing preference for resins. Resins are widely used in manufacturing processes for their moulding and casting properties. If there is significant industrial growth in the region, particularly in sectors where resins are commonly applied, this could contribute to the growth of the resin market. Silicones, which are silicon-based polymers, are extensively used in the electronics industry for encapsulation and insulation purposes. If there is growth in the renewable energy sector or an increase in electronics manufacturing in the Middle East and Africa, it could drive the demand for silicones and related resins. 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 the Middle East and Africa, the demand for silicon is growing. Furthermore, at the global level, the electronics market purchases more than 195, 000 tonnes of silicone products each year. Silicon is the primary material for manufacturing integrated circuits (ICs) or microchips. ICs are essential components in electronic devices, and they play a key role in processing and storing information. The miniaturisation and complexity achievable with silicon-based ICs contribute to the efficiency and functionality of electronic devices. Silicon exhibits excellent thermal stability, allowing electronic devices to operate efficiently even at high temperatures. This property is crucial for maintaining the reliability and performance of electronic components. The demand for consumer electronics, such as smartphones, tablets, and other personal devices, has been growing in the Middle East and Africa. Silicon's role in powering the processors, memory, and various components of these devices contributes to its widespread use. The overall economic growth and industrialization in the Middle East and Africa contribute to the increased usage of electronic devices. These devices, ranging from communication equipment to industrial automation systems, rely on silicon-based technology.
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Silicone Market Market Regional Insights
Based on the report, the major countries covered include Saudi Arabia, the United Arab Emirates, South Africa, and the rest of the Middle East and Africa. Saudi Arabia is contributing the highest market share. Saudi Arabia's Vision 2030, launched in 2016, outlines ambitious economic and social reforms aimed at reducing the country's dependence on oil revenue and diversifying its economy. As part of this vision, there is a significant focus on developing high-tech industries, including those related to silicon and electronics. Saudi Arabia has made substantial investments in renewable energy projects, particularly solar energy. Silicon is a key component in the production of photovoltaic cells used in solar panels. The country's commitment to renewable energy aligns with the global demand for clean and sustainable energy solutions. The Saudi government has been making strategic investments in technology and innovation. Initiatives such as the Saudi Data and Artificial Intelligence Authority (SDAIA) and the development of technology parks and innovation centres contribute to the growth of the Silicon Market. The Saudi government is actively working to diversify its economy by investing in non-oil sectors. Silicon has applications in various industries, including electronics, construction, and healthcare, contributing to the economic diversification goals outlined in Vision 2030.
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Key Development
Companies Mentioned
- Wacker Chemie AG
- The Dow Chemical Company
- Evonik Industries AG
- Mitsubishi Chemical Group Corporation
- Elkem ASA
- The CHT Group
- Momentive Performance Materials, Inc.
- 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. Middle East & Africa 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. UAE 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. Saudi Arabia 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. South Africa 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
- 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. Wacker Chemie AG
- 8.5.3. Elkem ASA
- 8.5.4. Evonik Industries AG
- 8.5.5. The CHT Group
- 8.5.6. Momentive Performance Materials, Inc.
- 8.5.7. The Mitsubishi Chemical Group
- 8.5.8. 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: Middle East & Africa Silicone Market Size and Forecast, By Material Type (2018 to 2029F) (In USD Billion)
Table 8: Influencing Factors for Silicone Market, 2023
Table 9: Middle East & Africa Silicone Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 10: United Arab Emirates Silicone Market Size and Forecast By Material Type (2018 to 2029F) (In USD Billion)
Table 11: United Arab Emirates Silicone Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 12: Saudi Arabia Silicone Market Size and Forecast By Material Type (2018 to 2029F) (In USD Billion)
Table 13: Saudi Arabia Silicone Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 14: South Africa Silicone Market Size and Forecast By Material Type (2018 to 2029F) (In USD Billion)
Table 15: South Africa 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: Middle East & Africa Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: Middle East & Africa Silicone Market Share By Country (2023)
Figure 8: UAE Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Saudi Arabia Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: South Africa Silicone Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Competitive Dashboard of top 5 players, 2023
Figure 12: Porter's Five Forces of Global Silicone Market
Silicone Market Market Research FAQs
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