The silicone elastomers market size was valued at USD 5.73 billion in 2020 and is predicted to reach USD 8.52 billion in 2025, with a CAGR of 6.9% during the foreseen period. Silicone elastomer is a silicone-based vulcanized polymer. It is often referred to as silicone rubber. This material is available in various forms such as solids, thermally conductive foams, open cell, closed cell, and electroconductive sponge. It features unique mechanical and chemical properties that a conventional elastomer cannot match. Therefore, it finds many end users in various applications, such as healthcare, electrical and electronics, automotive, consumer goods and others. Asia-Pacific is the fastest growing market for silicone elastomers in the automotive industry, followed by LAMEA. The construction industry has the largest share of the worldwide silicone elastomer market in terms of value and is the third most lucrative market for new entrants.
Market drivers and restraints:
The worldwide market for silicone elastomers is driven primarily by the growing call for silicone elastomers, especially in industrial machinery and consumer goods. Furthermore, increased end uses of silicone elastomer in the automotive sector are likely to exploit market expansion in the coming years. However, the high cost of the products can hamper market expansion. However, the expansion of transmission and distribution, coupled with the expansion of the healthcare sector in developing regions, may offer new avenues to the market during the foreseen period. The worldwide market for silicone elastomers is primarily driven by the growing applications of the material in the medical device and healthcare industries. The other factors driving the market are the increased call for silicone elastomers in the developing economies of Asia-Pacific and LAMEA and the considerable development of the electrical and electronics industry, which mainly contributes to expanding the activity of silicone elastomers. silicone. Asia-Pacific dominates the market, in terms of volume and expansion, due to the huge call and production in China, Japan and Korea, along with the high rate of market development in India and China. other emerging countries in the region. Strong worldwide call for automobiles and their parts to meet the trending antimicrobial silicone elastomer and insulation, bonding and sealing applications is predicted to provide ample development opportunities in the worldwide silicone elastomer market.
To know more, click on the link below:
Report segmented as:
- Liquid injection
By end use industry:
- Consumer goods
- Industrial machinery
The Asia-Pacific region was the dominant market for silicone elastomers in 2017 and is also predicted to show the highest expansion in the coming years. This expansion is attributed to the expansion of the automotive, healthcare and construction industries, especially in developing countries such as China, India, Korea and countries in the Southeast over the years. next years. Additionally, Asia-Pacific was followed by Europe and North America in the same year. Latin America, the Middle East and Africa are predicted to experience moderate expansion in the near future. Asia Pacific (APAC) offers a privileged market for the silicone elastomers trade due to the easy availability of cheap labor and raw materials in the region. Furthermore, the growing economies of countries such as China, Indonesia, Taiwan and India attract new foreign investment to these countries, contributing to the expansion of different industries in this field. However, high capital investments and the need for skilled labor to carry out operations related to silicone elastomers are predicted to slow market expansion in the region.
Important market players:
Some of the key players in the global silicone elastomers market include Dow Corning, Cabot Corporation, AkzoNobel, Bentec Medical Incorporated, ELMET, and Reiss Manufacturing Incorporated. Other players influencing the market are Sigmasoft Engineering GmbH., Wacker Chemie AG, Momentive, Allergan, ContiTech AG, Saint-Gobain, Shin-Etsu Chemical Company Limited, Arlon Silicone Technologies, Rogers Corporation, MESGO s.p.A, and Marsh Bellofram.
View a sample and decide:
The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
For more information:
Sales Manager at Market Data Forecast