While silicone markets have become more balanced and less volatile since the pandemic, innovation in process know-how has taken top priority for silicone firms both large and small.
Demand for silicone in medical, automotive and construction continues to be high, and supply continues to match demand for the $21.5 billion global market that is expected to grow at between 7 and 8 percent CAGR annually through 2029.
Upstream suppliers like Shin-Etsu, Elkem and Dow continue to invest in global capacity, and mid-stream companies like Simtec Silicone Parts L.L.C. and United Kingdom-based Silicone Engineering continue to invest in improved processes for customers—reducing the time-to-market for critical medical components.
Elmet, an Austrian firm that makes LSR dosing equipment, is focusing on micromolding and silicone parts for headlights that can see around corners.
And Wacker Chemie A.G., another major upstream silicone giant, remains bullish on the Americas—the second-largest silicone market in the world, behind China.
Here is a look back at five of the top stories from the silicone world in 2024.