June 16, 2024
Silicone Gel

Global Silicone Gel Industry is Expanding Rapidly

Silicone elastomers has properties that make it useful for several applications across industries such as consumer goods, medical devices, and others. Some of its key properties include biocompatibility, flexibility, thermal conductivity etc. Moreover, its production process is relatively simple which has resulted in low production costs. This has boosted the adoption of silicone elastomers especially in developing economies.

Rapid growth of end-use industries along with rising demand for Silicone Gel elastomers based products like breast implants, mattresses, furniture etc. are some of the major factors driving the market. The superior characteristics of silicone elastomers like being odorless, non-toxic and easy to use are fueling its application in medical as well as consumer goods.

Medical Industry Dominates Silicone Gel Consumption

The medical industry accounted for the largest market share of over 35% in 2022 owing to increasing usage of silicone elastomers in prosthetics, wound care products and breast implants. Silicone elastomers provides durability, softness and life-like texture that makes it suitable for prosthetics and breast implants. Around 300,000 breast augmentation procedures are performed annually in the U.S. alone using silicone elastomers implants. This is a major factor behind the dominant share of the medical industry.

Moreover, increasing prevalence of chronic diseases is propelling the demand for silicone elastomers based products in wound care and bandages. As per the estimates given by Centers of Disease Control and Prevention, over 6.5 million patients in the U.S. suffer from chronic wounds requiring long-term treatment involving use of silicone elastomers dressings. Rise in aging population globally is expected to further fuel the requirement of silicone elastomers in medical devices and wound care products over the forecast period.

Consumer Goods Emerging as an Important End-User

The consumer goods industry is emerging as one of the fastest growing end-user industry for silicone elastomers industry on account of augmented utilization in furniture, mattresses, waterproof electronics and more. In furniture, silicone elastomers is injected into cushions and mattresses owing to its pressure redistribution and insulating properties which enhances comfort. Rising disposable incomes in developing nations are propelling sales of premium furniture and mattresses embedded with advanced materials like silicone elastomers.

Moreover, growing electronics industry especially in Asia is creating substantial demand for silicone elastomers as it can be injected into devices to make them splash or water resistant. As per projections, around 2 billion smartphones will require splash proof coating by 2025 thereby driving silicone elastomers consumption. Growth of e-commerce channels coupled with rising health awareness are some of the key drivers bolstering the sales of silicone elastomers based consumer goods.

Regional Outlook of Silicone Gel Industry

Asia Pacific represented the largest regional market and held a share of over 40% of global silicone elastomers demand in 2022. Presence of numerous silicone elastomers manufacturing plants along with robust growth of end-use industries has augmented the consumption in the region. Moreover, the regional electronics industry is one of the largest worldwide which necessitates use of silicone elastomers as a protective coating.

North America stood as the second major silicone elastomers market backed by surging demand from the exponentially expanding medical industry particularly in the U.S. According to CMIE, over 1 million knee and hip replacements are performed annually in the United States requiring use of silicone elastomers. This has made North America an important hub consumption of silicone elastomers for medical applications. Improving healthcare infrastructure and rising medical tourism are anticipated to drive the regional demand further over the forecast period.

Europe accounted for a sizable market share as well due to growing elderly population base triggering use of silicone elastomers based prosthetics and barrier creams. Additionally, high disposable incomes have augmented sales of premium silicone elastomers embedded consumer goods like mattresses and furniture in European countries. However, stringent regulations around the use of silicone elastomers in food contact and baby care applications may hinder the market growth to some extent.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.