Silicone Elastomers Market is expected to reach more than USD 8.7 billion by 2022 with a CAGR of more than 7.7%

“Silicone Elastomers Market”
Silicone Elastomers Market Research Report, By Product type (HTV, RTV and LSR), By Application (Construction, Automotive, Electronics, Consumer Goods and Industrial) – Forecast To 2022

Market Research Future Published a Half-Cooked Research Global Silicone Elastomers Market Research Report – Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.    

Wacker Chemie AG (Germany), DOW Corning Corporation (U.S.), KCC Corporation (South Korea), Momentive Performance Materials Inc. (U.S.), Specialty Silicone Products Inc. (U.S.), Reiss Manufacturing Inc.  (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), Mesgo S.p.A. (Italy), ICM Products Inc. (U.S.) and Elkem Silicones (Europe) among others are some of the prominent players at the forefront of competition in the Global Silicone Elastomers Market and are profiled in MRFR Analysis.

Silicone Elastomers Market – Market Overview

Silicone Elastomer referred to as synthetic rubber that is available in various forms such as solids, closed cell sponge, electrically conductive, open cell forms and thermally conductive materials. These elastomers possess superior properties such as electrical and thermal resistance, low surface friction, flame retardancy and self-adhesive nature which increases the demand of product across various application such as automotive, construction, medical & healthcare and electrical & electronics among others. Growing demand of product in structural glazing and sealants are anticipated to drive the silicone elastomer in construction industry. Moreover, rising demand of Silicone Elastomers in aviation sector owing to low thermal conductivity is projected to drive the market growth.  

Silicone Elastomers are considered ideal elastomer which contains both mechanical and chemical properties. These properties enable its usage in commercial as well as industrial applications such as hoses, spark plug boots, vibration dampers, ignition cables and structural glazing among others. Moreover, these polymers are also used in door seals, shoe inserts, kitchen utensils, dental and surgical devices and sterilization mats.

The various Silicone Elastomer product types available in the market are high temperature vulcanize (HTV), room temperature vulcanize (RTV) and liquid silicone rubber (LSR) among others. Liquid silicone rubber finds extensive application in electronic and electrical equipment industry owing to its superior properties such as low viscosity, chemical stability and electrical resistance. Growing demand of room temperature vulcanize (RTV) in applications such as sealing, lens, molds in electrical and electronics, health care and medical equipment’s are anticipated to drive overall market growth. Based on application, automobile industry is leading the end use industry segment due to rising investment in lightweight component parts to meet government regulations and increasing automotive cluster in emerging economies. In addition, increasing demand of safe and sterile surgical elastomers are also anticipated to open new opportunities in healthcare sector. Asia Pacific region witnessed high growth in terms of favourable government policies, rapid industrialization and technology advancement. Flourishing automotive industry in Japan and China is also expected to augment the market share. Further, China policy to have single child are expected to have less youth population compared to aged population. Thus, rising aging population will drive focus towards cosmetic surgery owing to stay presentable which aids to growth of Silicone Elastomer in regional market. Growing healthcare industry in U.S. and Canada is also likely to propel the market growth. Consequently, Chinese manufactures are dominating with price discrimination which leads to low demand of silicone elastomer in developed region. Hence, this can hamper the Global Silicone Elastomer Market growth.

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Silicone Elastomers Market – Competitive Analysis

Silicone Elastomers Market fragmented with presence of tier 1 and tier 2 as well as strong regional players in the market. The key players are highly focusing on quality and high-performance products by investing on research and development which is further expected to provide lucrative opportunity for market participants. The various other strategies adopted by major players are expansion, acquisition and agreement. The industry is high following backward integration strategy such as raw material used for producing silicone uses silicone for manufacturing elastomers. Thus, achieving cost effective business through minimising the raw material procurement problems. For instance, Wacker Chemie AG, Dow Corning Corporation, Momentive Performance Materials Inc. and Shin-Etsu Chemical Co., Ltd. among others are major participants in backward integration. Moreover, companies are implementing high tech technologies to meet customer requirements. The players are entering into long term agreement with distributors to maintain profit across value chain. 

Industry/ Innovation/ Related News:

November 2017 – WACKER expands its production and research & development facility in China. The company is planning to expand capacities for silicone and polymer products and further strengthen its position in regional market. Consequently, company is expanding solid silicone rubber manufacturing facility and production capacity of vinyl acetate-ethylene (VAE) copolymer dispersion at Nanjing plant site along with new R&D facility for pyrogenic silica, silicone fluids and resins and room-temperature-curing silicone elastomers. Through this expansion company would be able to meet additional volumes of product.  

April 2017 –WACKER and STC, a Brazilian silicone compounder has entered into agreement for co-branding ready to use silicone compounds. Now, STC can promote silicone compounds made from raw materials produced by WACKER under seal ‘ELASTOSIL’. STC company would now be able to supply high quality and tailored made silicone compounds in Brazil market.

March 2017 – Momentive Performance Materials Inc. launched silicone based gel named as Velvesil E-Gel PMF for aqueous based skin care and cosmetic solutions. This is an innovative silicone based cross polymer emulsion for the cosmetic industry. The Velvesil E-Gel is long lasting, moisturizing application mask, all in one product. Velvesil E-Gel PMF emulsion can be incorporated in products such as toners, serums, sunscreens and foundations as this can enhance performance with just single additive. Moreover, this product in cosmetic industry has reduce complexity and cost associated with producing skin and hair care products.

September 2017 –Dow medical solutions, a business unit of the DowDuPont Specialty product division launched two products to meet growing demand of medical device manufacturer. The two-product launch includes Dow Corning QP1-33X0 Liquid Silicone Rubber and QP1-5040 Self-Adhesive Liquid Silicone Rubber. Both these products, enables faster cure at lower temperature. The QP1-33X0 can be used for products such as wearable monitoring, respiratory care and external communicating. The QP1-5040 enables to combine hard and soft components and is suitable for liquid injection molding. These two products provide opportunities to medtech manufactures to use different thermoplastic products to meet customer requirements.

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