The global Silicone Elastomers Market is expected to be valued at USD 10.80 Billion in 2027 from USD 6.82 billion in 2019, registering a CAGR of 5.7% through the forecast period. The global market growth is primarily attributed to the constantly rising industrial applications of silicone elastomers due to their superior properties, such as wear & tear resistance, low surface friction, robust heat resistance, and self-adhesive nature. The ever-increasing demand for silicone elastomers across the electrical & electronics, automotive, construction, consumer goods, packaging, and healthcare industries is a crucial parameter contributing to the growth of the global silicone elastomers market. The growing usage of silicone elastomers in mold-making, ornaments, toys, furniture, optical lenses, industrial machinery, and adhesives & sealants further boosts the market growth.
In recent years, manufacturers have increasingly invested in research & development activities to advance these materials technologically. For instance, in July 2020, a team of engineers at Freudenberg Sealing Technologies, a leading manufacturer of industrial sealants, developed a silicone elastomer with a high heat-resistance capacity and electrical insulation properties. Freudenberg’s latest innovation is specifically designed for use in various electric car components, semiconductors, and several other automotive electrical components.
Key companies in this industry include Dow Corning, Wacker Chemie, Momentive Performance Materials, KCC Corporation, Chemical Industrial Group Co., Ltd., China National Bluestar Silicones, Reiss Manufacturing, Shin-Etsu, Zhejiang Xinan Specialty Silicone Products, and Mesgo SpA.
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Key findings of the report:
- Based on product type, the high temperature vulcanized sub-segment, which accounted for the largest market share of 40% by 2019, is expected to dominate the global silicone elastomers market throughout the forecast timeframe. High temperature vulcanized silicone elastomers find numerous applications, owing to their excellent characteristics, such as improved strength, enhanced siloxane bond, superior electrical conductivity, steam and flame resistance, radiation resistance, and resistance to extreme temperatures.
- Based on technology, the extrusion technology sub-segment is estimated to hold the leading market position over the forecast period, exhibiting a CAGR of 6.5%. This technology is most popular and widely used due to its enhanced durability and superior resistance to harsh environmental conditions.
- The Asia Pacific region stands out as the leading regional market for silicone elastomers globally. The market is poised to achieve the highest revenue share of 40% over the estimated period, displaying the fastest CAGR of 6.3%. Rapid urbanization and the booming automotive, consumer goods, and electrical & electronics industries, mainly in China, India, and Indonesia, are the most crucial factors leading to the regional market growth.
- In October 2020, Dow, the global leader in materials science, developed next-generation, high-performance silicone additives for waterborne wood coatings and varnishes. The three new products, including the DOWSIL™ 211S Additive, DOWSIL™ 107F Additive, and DOWSIL™ 402LS Additive, exhibit enhanced blocking resistance, foam control, and excellent durability and compatibility.
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For the purpose of this report, the global silicone elastomers market has been segmented on the basis of product type, technology, application, and region:
By Product Type (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- High Temperature Vulcanized
- Room Temperature Vulcanized
- Liquid Silicone Rubber
- Fluorosilicone Rubber (FSR)
- Fluoro Liquid Silicone Rubber (F-LSR)
- Liquid Silicone Rubber (LSR)
- High Consistency Rubber (HCR)
- Thermoset Additives for Plastics
By Technology (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Injection Molding
- Liquid Injection Molding
- Compression Molding
By Application (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Electrical & Electronics
- Automotive & Transportation
- Consumer Goods
- Industrial Machinery
Key Takeaways from the Global Silicone Elastomers Market report:
- The global Silicone Elastomers market report entails a broad product segmentation.
- It methodically evaluates the overall product expanse of this business space.
- The report covers pivotal information about the accrued market share of each product type, their profit estimations, and production growth graph.
- The report further details the market share and product demand for each application segment.
- The study estimates the growth rate of each application segment over the projected timeframe.
- Moreover, the report offers crucial information on the different parameters boosting the global market expansion, such as raw material production and market concentration rates.
Major Regions Analyzed in Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Global Silicone Elastomers Market: Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
3.1. Macro Indicators
3.1.1. Antimicrobial Silicone Elastomers contribution for Healthcare Industry
3.1.2. Increasing Demand for Automotive Vehicles
Chapter 4. Silicone Elastomers Market Segmentation & Impact Analysis
4.1. Silicone Elastomers Market Segmentation Analysis
4.2. Silicone Elastomers Market Value Chain Analysis, 2018-2026
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