The 2024 Silicone Market Report offers an analysis of the industry that continues to be crucial across sectors such as automotive, construction, healthcare, electronics, and personal care. The report explores the silicone market’s growth, which is influenced by technological advancements, increased demand for high-performance materials, and sustainability initiatives. It examines firmographic data, and investment patterns, and provides insights into innovative startups.
This silicone report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights Silicone Report 2024
- Executive Summary
- Introduction to the Silicone Report 2024
- What data is used in this Silicone Report?
- Snapshot of the Global Silicone Industry
- Funding Landscape in the Silicone Industry
- Who is Investing in Silicone Solutions?
- Emerging Trends in the Silicone Industry
- 5 Innovative Silicone Startups
Executive Summary: Silicone Report 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 700+ silicone startups developing innovative solutions to present five examples from emerging silicone industry trends.
- Industry Growth Overview: The silicone industry is experiencing expansion, with an annual growth rate of 16.23%. Over 700 startups contribute to a total of 8700+ companies in this sector.
- Manpower & Employment Growth: The global workforce in the industry comprises over 380K employees. Also, over 20K new employees joined the industry in the last year.
- Patents & Grants: The sector holds more than 169K patents from over 53K applicants. The yearly patent growth rate is approximately 0.24%. In addition, more than 260 grants have been awarded.
- Global Footprint: Leading country hubs include the USA, China, India, the UK, and Germany. Top city hubs showing high startup activity include Shenzhen, Mumbai, Dongguan, New York City, and Melbourne.
- Investment Landscape: The financial landscape is vibrant, with an average investment value of USD 20.2 million per funding round. The sector has closed over 800 funding rounds involving more than 380 investors. This has benefited over 330 companies.
- Top Investors: The combined investment value of the top investors, including GIC, Winner Medical, Elevation Partners, and more exceeds USD 380 million.
- Startup Ecosystem: Five innovative startups include eSiprint (Elastic Silicone 3D Printing), Zentek New Materials (Silicone Coatings), Cohere Tech (Silicone Sealants), KAPPA AgTech (Silicone Substrate), and EuroDucting (Silicone Ducting)
- Recommendations for Stakeholders: Investors should fund R&D for advanced, eco-friendly silicone products and processes. Entrepreneurs must capitalize on niche markets like medical and electronics applications by developing specialized silicone solutions. Further, companies should invest in efficient manufacturing techniques and form partnerships for resource sharing and market expansion.
Explore the Data-driven Silicone Report for 2024
The Silicone Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. Our database includes 700+ startups and over 8700 silicone companies. The annual growth rate of 16.23% shows upward momentum in the sector. The industry has over 169K patents, a reflection of strong innovation and intellectual property activities. Further, more than 260 grants have been awarded to support ongoing research and development.
The global workforce in the silicone industry exceeds 380K employees, with an increase of over 20K employees in the last year. The top country hubs leading the industry are the USA, China, India, the UK, and Germany, while Shenzhen, Mumbai, Dongguan, New York City, and Melbourne are the top city hubs. They serve as crucial centers for industry activities and advancements.
What data is used to create this silicone report?
Based on the data provided by our Discovery Platform, we observe that the silicone industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- News Coverage & Publications: The silicone industry has garnered extensive media attention and research activity, with over 6000 publications last year.
- Funding Rounds: Our database shows the sector has completed over 800 funding rounds. This reflects a strong investment and financial support.
- Manpower: With a workforce exceeding 380K workers, the industry has experienced manpower growth, adding over 20K new employees in the past year.
- Patents: The sector has over 169K patents, highlighting a high level of innovation and intellectual property generation.
- Grants: In addition, the silicone industry has received more than 260 grants.
- Yearly Global Search Growth: The annual global search growth stands at 18.93%. This is an indication of the increasing interest and awareness in the silicone sector.
- and more. Get in touch to explore all data points used to create this silicone report.
A Snapshot of the Global Silicone Industry
The silicone industry shows strong growth and a dynamic market environment. The sector has an annual growth rate of 16.23%, with over 700 startups contributing to this upward trend. It features 150 early-stage startups and over 340 mergers and acquisitions. This is reflective of both innovation and consolidation within the sector.
In terms of intellectual property, the industry has accumulated over 169K patents from more than 53K applicants. The yearly patent growth is 0.24%, with the USA and China leading as the top issuers, accounting for over 43500 and 25100 patents respectively. This underscores significant contributions from these key players in advancing silicone technology.
Explore the Funding Landscape of the Silicone Industry
The financial landscape of the silicone industry is notable, with an average investment value per funding round of USD 20.2 million. The industry has experienced over 800 funding rounds, involving more than 380 investors. This investment activity has supported over 330 companies. This is a highlight of the investor’s confidence in the sector’s potential for growth and innovation.
Who is Investing in Silicone Solutions?
The combined value invested by the top investors in the silicone industry exceeds USD 380 million. Here are the top investors and their contributions:
- GIC has invested USD 123 million in 2 companies.
- Winner Medical has contributed USD 108.2 million to at least one company.
- Elevation Partners has invested USD 100 million in at least one company.
- Viking Global has contributed USD 56 million to at least one company.
Access Top Silicone Innovations & Trends with the Discovery Platform
The growing trends in the silicone industry, along with the firmographic insights are as follows:
- Electronics Manufacturing involves leveraging silicone’s unique properties to enhance electronic device performance and durability. It encompasses 7K+ companies employing 626K+ individuals. Despite a minor decline with an annual trend growth rate of -3.01%, this sector remains vital due to the increasing integration of silicone components in electronics.
- Biocompatible Silicone is driven by 1K+ companies with 37K+ employees. There has also been an addition of 2K+ new employees in the last year. In addition, this trend is experiencing an annual trend growth rate of 11.69%.
- Medical Device Manufacturing includes companies leveraging silicone’s properties for improved performance and reliability. The trend encompasses 3K+ companies employing 223K+ individuals. Despite a slight stability with an annual trend growth rate of -0.52%, this sector remains resilient in a competitive and highly regulated market.
5 Top Examples from 700+ Innovative Silicone Startups
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
eSiprint offers Elastic Silicone 3D Printing
German startup eSiprint provides materials that enable silicone 3D printing using binder jetting technology. The process involves applying a thin layer of silicone resin powder to the build platform. A multijet print head then selectively introduces a silicone oil crosslinking solution. It chemically crosslinks the silicone resin to form durable silicone rubber. eSiprint’s process reduces costs and delivery times and minimizes waste.
Zentek New Materials makes Silicone Coatings
Chinese startup Zentek New Materials develops silicone materials for semiconductor, electronics, and automotive applications. Its silicone photoresist anti-reflecting coating enhances size uniformity, and pattern resolution, and reduces standing wave effects. The startup’s other product, PCB protective coating composed of functional polysiloxane, silicone resin, solvent, silane, catalyst, and more, has applications in home appliance, electronic, and marine electronics circuit boards.
Cohere Tech provides Silicone Sealants
Indian startup Cohere Tech offers general-purpose acetic cure sealant that remains permanently elastic even after hardening. It resists chemicals and fills gaps in glass joints, steel, and electrical applications. The startup’s neutral silicone, a solvent-free moisture-hardening sealant, fills gaps in sheet metal work, copper, and wood. Its siliconized acrylic, a non-sag paste, offers high plasticity for various applications. Lastly, its co-bond fire stop silicone, a one-part fire barrier sealant, ensures fire resistance in construction joints and glazing applications.
KAPPA AgTech develops Silicone Substrate
US-based startup KAPPA AgTech builds silicone substrate that replaces disposable media in hydroponics. This solution eliminates disease vectors and works with all seed types. It also simplifies nutrient dosing. The startup’s silicone adapts to various hydroponic formats, from nutrient film technique (NFT) to deep water culture (DWC). It wicks water to seeds during germination and ensures an oxygen-rich microenvironment. KAPPA AgTech’s silicone substrate is also UV-resistant, heat-tolerant, and sustainable.
EuroDucting provides Silicone Ducting
Polish startup EuroDucting offers DuraSilicone, which caters to hot/cold liquid, pressurized air, negative air pressure, and solid particle transportation. DuraSilicone comprises three product types: coolant, turbo, and FDA food hoses. These ducts are crafted by winding silicone fabric onto pre-manufactured metal molds, reinforced with resin mesh. The resulting shape undergoes a specialist heating/cooling cycle to ensure durability.
Gain Comprehensive Insights into Silicone Trends, Startups, or Technologies
The 2024 silicone market report underscores a dynamic industry positioned for sustained growth. Driven by technological advancements and rising demand across various sectors, the integration of silicone in electronics manufacturing and the emergence of biocompatibility in medical applications signal a promising future for innovation and sustainability. Get in touch to explore all 700+ startups and scaleups, as well as all industry trends impacting silicone companies.
