The global silicone elastomers market size is anticipated to reach USD 9.34 billion by 2026 growing at a CAGR of 5.1% from 2018 to 2026 according to a new report published by Polaris Market Research. The report ‘Silicone Elastomer Market Share, Size, Trends & Industry Analysis Report By Product Type (Liquid Silicone Rubber, High Temperature Vulcanized/High Consistency Rubber, Room Temperature Vulcanized), By Process, By End-Use, By Regions]: Segment Forecast, 2018 – 2026’provides insights on the current market scenario and the future prospects.
Silicone elastomers has been gaining significant importance from a wide range of end-use industries, especially from the construction industry. Evolution of advance liquid silicone rubber (LSR) technology has experienced exponential growth mainly in the high-tech application fields. Silicone elastomers are also used widely in the medical appliances sector and its utility has been increasing every year with increasing trend towards self-treatment of chronic ailments including blood conditions, autoimmune diseases, and hormone diseases.
In the other areas such as portable water and food processing, severely strict environmental as well as safety and health considered as catalyst to move to LSR. In the automotive industry, the rising trends of autonomous cars means vehicles are equipped with more and more electronic features, and that promotes the demand for integrated and super clean liquid silicone elastomer and LSR components. The growing demand for these products are related to demographics, urbanization and social changes as the growing affluent population has a higher buying power for electronics and other categories of lifestyle consumables.
Silicone elastomers are used widely in the present original equipment manufacturing industry owing to its extreme versality that makes it compatible to a wide range of end-use conditions. As silicone are liquid raw materials, it offers superior advantages in processing, which makes it the premier option for materials to be used for technical components in high volumes.
HVSR are also used in a wide variety of industries including the electronics, electrical and automotive, transmission along with the distribution industry, construction industry, process and mechanical engineering, and in food, health care and the medical sector.
The room temperature vulcanized rubbers also have an extensive portfolio. These specific product categories provide an advantage for the cured rubbers to be manufactured with extreme high level of versality and extremely specified properties. RTV -2 and RTV-1 rubbers offers versatile and unique solution portfolios for individual manufacturing issues in a variety of industrial sectors including optoelectronics, electronics, moldmaking, household appliance, industrial process engineering, mechanical engineering, solar/photovoltaics, and even health care applications. The RTV-1 rubber grades are also absolutely ideal for all types of bonding, sealing and coating applications. These silicone-based elastomers owing to their extremely characteristics find applications in these wide manufacturing sectors.
The Asia Pacific industry is the leading silicone rubber producing regional market and accounted for approximately forty percent of the global market in 2017. China remained the fastest growing country for silicone elastomers in the region in 2017. These gains in the region were and are also anticipated to be driven by the continuous growth of China’s silicone and rubber industry along with India’s emerging silicone manufacturing industry. This is also owing to the favorable economic outlook for the higher income nations in the region.
The silicone-based elastomer manufacturing industry is a competitive market space with several multinational and diversified product manufacturing companies that play an active role. Some of the leading industry participants include Momentive Performance Materials Inc., Wacker Chemie AG, Dow Corning Corporation, Shin-Etsu Chemical Co., Ltd., Ltd., KCC Corporation, Mesgo S.P.A., China National Bluestar (Group) Co., Reiss Manufacturing Inc., Zhejiang Xinan Chemical Industrial Group Co., Ltd., Mesgo S.P.A., and Specialty Silicone Products Inc.
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