Silicone Price Trend and Forecast

Regional Price Overview

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).

Silicone Price Trend for the Second Half of 2023


The end-user industries projected a limited interest in the silicone sector, which caused month-on-month variations in its price trend during the third and fourth quarters of 2023. The oscillations were very severe in the third quarter when the consumption of the automotive sector remained only moderate while the production output outgrew the demand by several folds.

Silicone Price Chart

Silicone Price Trends and Forecast

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Additionally, the slump in raw material prices due to limited procurement lowered the overall cost of production and prices of silicone. However, during the last month of the third quarter and the majority of the next quarter, the market adopted a relatively stable outlook. This was based on the contraction in production activities and robust demand from the automotive industries after the softening of semiconductor supply knots.


After a period of stagnancy in the initial months of the third quarter, the price trend of silicone registered a dramatic decline in the last month. The drop in the prices was attributed to being based on a significant shrinkage in the demand from the downstream industries and the cost of production.

The market thus took a long period of recovery before showing any positive sentiments in the fourth quarter. This is evident from the fact that the cost of raw materials and demand from the end user industries started to incline since the advent of Q4’23 but the influence of these sectors was only seen during the last month of the year.

North America

In North America, the downstream rubber industries experienced an avalanche, which was further translated into the price trend of silicone during Q3 of 2023. There was also a striking imbalance between the demand and supply of the commodity which made the trading activities much dire. Additionally, the feedstock industries also failed to exert any support to the sector in the aforementioned period, resulting in the downfall of the silicone price trend. However, soon, the dynamics of the overall market shifted in favor of the rising momentum. The production output in Q4 also declined, which eased the stockpiles, and with growing demand, the prices of silicone also had room for growth.

Analyst Insight

According to Procurement Resource, the price trend of Silicone is estimated to depict the trends followed by its feedstock and downstream industries in the upcoming quarters.

Silicone Price Trend for the First Half of 2023


Asian Silicone market witnessed mixed price trend during the first half of 2023. The market had a good start in January with high demands and rising prices, given the Chinese holiday season. But the demands dipped sharply as soon as the holiday season was over, pushing the prices down. But a steady rebound was witnessed in the second quarter as the supply-demand dynamics stabilized and the Silicone market showed optimal movement.


The European Silicone market had a slow start at the beginning of 2023. Silicone prices wavered low at the beginning of the first quarter primarily because of the dull trade activities in European markets. But as the freight and supply chain issues were resolved and Europe started experiencing trade normalization, prices started rising, especially because of the semiconductor sector. Hence, the price trend for Silicone rose in Europe for the rest of the concerned period.

North America

In the North American market, suppliers continuously ordered Silicones without much concern over market demand. As there were rising demands from downstream industries, prices started high in January 2023. But as the inventory levels rose astoundingly because of consistent procurement, prices saw a dip at the end of the first quarter. However, the demands still remained high, and the prices soon came back to the inclining trajectory in the second quarter and kept rising for the rest of the said period.

Analyst insight

According to Procurement Resource, Silicone prices are expected to continue rising market trend in the upcoming months as the demand projections look good for the product.

Silicone Price Trend for the Second Half of 2022

Asia Pacific

The third quarter saw a slight increase in the price trend for silicone given the steady rise in the demand from end users like the automobile and allied industries and also due to the increase in prices of its primary feedstock. Due to the disruption of supply chain dynamics brought on by the rise of COVID cases and the resulting increase in trade restrictions, the Chinese market likewise experienced limited stock availability. The automotive, cosmetics, and pharmaceutical industries all experienced sluggish demand in the fourth quarter, which resulted in lower commodity prices.


As the demand for this commodity fell, prices on the European market fell. The downturn was caused by the high cost of local manufacturing, raw materials, and operation. The changes in the prices of commodities were evident of the recession's reverberations throughout the area.

The supply chain was affected by port overcrowding, vessel bunching, and a labour strike, which added to the negative growth of prices.  The dynamics of the supply chain did, however, slightly improve in the fourth quarter, but the price decrease was still driven by the weak demand from the pharmaceutical, cosmetics, and automotive sectors.

North America

In contrast to the other two regions, the North American region had the reverse tendency. As output rose in the local area in the third quarter, prices soared. Despite rising inflation rates, the end-user markets maintained a steady demand for the item. However, the transportation issues, port congestion, and labour shortage in the area disturbed the supply dynamics.  As a result, silicone price growth decreased in the fourth quarter.

Analyst Insight

The price trend of Silicone are likely to remain volatile during the coming month given the current market dynamics. Owing to the unfolding financial crisis, the buyers are cautious of their buying activities which negatively impacts the demand and thus, the overall dynamics.

Silicone Price Trend For the First Half of 2022


The price trend for silicone registered an upward trend throughout the Asian market during the said period. The price of silicone depends on the buoyant downstream demand from the pharmaceutical, electrical, and packaging industries. During the first quarter, the price of feedstock dimethylcyclosiloxane (DMC) kept strong averaging 37000-39500 RMB/MT.

However, the prices of DMC started declining during the second quarter owing to the logistic and transportation issues. The reduced market sentiments and inflated operating costs further impacted the prices. Despite the reduced quotations for feedstock DMC, the price trend for silicone remained strong throughout the Chinese market owing to robust demand.


The continuing Russia-Ukraine war has triggered an acute energy crisis in the European region causing high-cost inflation. The high operating costs, reduced market inventories and supply-side constraints have impacted the prices of DMC. The robust demand from the electric vehicles sector has kept the prices of silicone intact across the European region. The prices of silicone recorded an average rise of 5-7% during the said period.

North America

The US domestic market mirrored the global price trend for silicone. The price of silicone kept increasing owing to the increased input costs. The high-power costs, labour shortages, expensive logistics and booming downstream demand from the pharmaceutical and electric industry kept the silicone prices anchored throughout the domestic market. The silicon prices rose by 5-6% averaging 4500 USD/MT.

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A silicone or polysiloxane is essentially any of the several polymers that incorporate any synthetic product comprising repeating units of silicon and oxygen atoms linked together with carbon, hydrogen, or occasionally additional elements. Silicone is frequently liquid, rubber-like, and heat-resistant. It is frequently used in thermal and electrical insulations, sealants, adhesives, lubricants, pharmaceuticals, and culinary utensils. Typical forms include silicone caulk, silicone rubber, silicone resin, silicone oil, silicone grease, and silicone rubber.

Product Details

Report Features Details
Product Name Silicone
HS CODE 39100090
Industrial Uses Transportation industry, Healthcare industry, Production of automobile components, Production of adhesives
Supplier Database The Dow Chemical Company, Evonik Industries AG, Elkem ASA, Shin-Etsu Chemical Co, Ltd., Momentive, KCC Corporation, Wacker Chemie AG
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

  • Production of Silicone from silica

The first step in the synthesis of silicone is to purify silicon from silica. In this process, a significant amount of quartz sand is heated to temperatures as high as 1800 C. Pure, isolated silicon is the end product, and it is then allowed to cool before being milled into a fine powder.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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