The earnings gains, said Wacker, reflected higher volumes and prices, as well as cost savings from an ongoing group efficiency program.
These factors more than offset marked increases in prices for raw-materials and energy, which reduced earnings by about €562 million.
Sales at Wacker Silicones lifted 16 percent to $2.92 billion last year, while segment earnings came in 43 percent higher at $623 million.
"Alongside volume growth and better prices for silicones, the division mainly benefited from the growing share of higher-margin specialties in its portfolio," stated Wacker.
Commenting on the group-wide performance, CEO Christian Hartel said, "Demand remained robust throughout the year in most of our customer sectors … and remains high as we enter 2022.
"We also achieved substantially higher prices for our products than in 2020, helping us compensate for the strong increase in some raw-material prices," he added.
Wacker's capital expenditures reached $382 million in 2021, up 52 percent from a year earlier, with the focus on expanding capacity for silicone and polymer products.