Silicone Elastomers Market Research Report -Forecast to 2030

Silicone Elastomers Market Information: by Type (High Temperature Vulcanized [HTV], Liquid Silicone Rubber [LSR], Room Temperature Vulcanized [RTV]), Application (Automotive, Electrical & Electronics, Healthcare, and Others) and Region Forecast till 2030

ID: MRFR/CnM/1229-HCR | November 2022 | Region: Global | 143 Pages         

Silicone Elastomers Market

Silicone Elastomers Market is projected to be worth USD 13.5 billion by 2027, registering a CAGR of 7.4% during the forecast period (2021-2030).

Segmentation

Type High Temperature Vulcanized [HTV] Liquid Silicone Rubber [LSR] Room Temperature Vulcanized [RTV]
Application Automotive Electrical & Electronics Healthcare

Key Players

  • Momentive (US)
  • Wacker Chemie AG (Germany)
  • DowDuPont (US)
  • Shin-Etsu Chemical Co. Ltd. (Japan)
  • KCC CORPORATION (South Korea)
  • China National Bluestar (Group) Co. Ltd. (China)
  • Reiss Manufacturing Inc. (US)
  • MESGO S.p.A. (Italy)
  • ALLERGAN (Ireland)
  • Bentec Medical (US)
  • Rogers Corporation (US)

Drivers

  • The rapidly expanding automotive industry across the globe.
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Silicone Elastomers Market Overview
 
Silicone Elastomers Market is projected to be worth USD 13.5 billion by 2022, registering a CAGR of 4.70% during the forecast period (2022-2030). Electrically conductive, thermally conductive, open-cell foams, solids, and closed-cell sponges are all examples of silicone elastomers, also known as vulcanized silicone-based polymers. Silicone elastomers are suited for usage in a variety of end-use industries, including healthcare, electrical and electronics, and transportation, due to their great features such as minimal compression set, excellent environmental resistance, and exceptional temperature resistance. In recent years, the global market for silicone elastomers has experienced tremendous expansion. The increasing demand from the construction and electronics industries are the primary reasons driving the Silicone Elastomers Market's growth in the medium term. On the other hand, silicone's negative health effects are anticipated to stifle Silicone Elastomer's expansion.
 
The fast-growing global automobile industry is principally responsible for the market's expansion. Silicone elastomers are commonly found in diaphragms, hoses, fuel system valves, gaskets, and connection seals in automobiles. Furthermore, factors such as the growing middle-class population, rising disposable income, and increasing product consumption in the electronics industry are expected to positively impact market growth in the next years. Furthermore, the expanding healthcare business in both established and developing economies is expected to provide attractive prospects for Silicone Elastomers Market participants.

Key Players


Some of the key players in the global silicone elastomers market are 



  • Momentive (US),

  • Wacker Chemie AG (Germany),

  • DowDuPont (US),

  • Shin-Etsu Chemical Co., Ltd. (Japan),

  • KCC CORPORATION (South Korea),

  • China National Bluestar (Group) Co., Ltd. (China),

  • Reiss Manufacturing, Inc. (US),

  • MESGO S.p.A. (Italy),

  • ALLERGAN (Ireland),

  • Bentec Medical (US),

  • Rogers Corporation (US), and

  • Specialty Silicone Products, Inc. (US).


Silicone Elastomers Market Share, by Type, 2017 (%)


Silicone Elastomers Market Share


Regional Analysis


Asia-Pacific accounted for the largest share of the silicone elastomers markets in 2017 as a result of the presence of a wide industrial base in developing economies such as India, China, and Thailand. Market growth is heavily influenced by increasing automotive production as a result of the surging demand for automobiles coupled with the rising per capita income of consumers.


North America is a prominent region for the silicone elastomers market owing to the burgeoning electrical and electronics industry with the rising demand for consumer electronic devices such as wireless speakers and wearable devices.


In terms of market share, North America is followed by Europe, on account of the reviving automotive industry with a surge in demand for high energy-efficient and lightweight vehicles. Additionally, the expanding healthcare industry as a result of increased spending on healthcare coupled with the growing geriatric population and high per capita income is propelling market growth.


The Latin American market is expected to grow at a significant rate during the review period with the burgeoning automotive industry in Brazil and Mexico. The market in the Middle East & Africa is likely to grow at a considerable CAGR in the coming years due to the growing industrial base in the region.


Segmentation


The global silicone elastomers market has been segmented by type, application, and region.


On the basis of type, the market has been segmented into high temperature vulcanized (HTV), liquid silicone rubber (LSR), room temperature vulcanized (RTV), and others.


Based on application, the market has been segmented into automotive, electrical and electronics, healthcare, energy, aerospace, and others.


Based on region, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Recent Development


In March 2022, Quadion LLC, d.b.a. Minnesota Rubber and Plastics (MRP), a leading producer of highly engineered elastomer and thermoplastic solutions, has announced the acquisition of Primasil Silicones Ltd. (Primasil), a specialized silicone rubber compounder, mixer, and maker situated in Weobley, United Kingdom.
 
COP Chimie, a French SME situated in the Vercors region, stated in January 2022 that its R&D lab had succeeded in developing a line of 3D printable silicone elastomers certified for skin contact and developed on its synthesis unit: COPSIL 3D. The latest advancement allows for more pleasant skin contact by creating a variety of silicone elastomers.



Report Scope:

Report Attribute/Metric Details
  Market Size   2027: USD 13.5 Billion
  CAGR   4.70%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units    Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Momentive (US), Wacker Chemie AG (Germany), DowDuPont (US), Shin-Etsu Chemical Co., Ltd. (Japan), KCC CORPORATION (South Korea), China National Bluestar (Group) Co., Ltd. (China), Reiss Manufacturing, Inc. (US), MESGO S.p.A. (Italy), ALLERGAN (Ireland), Bentec Medical (US), Rogers Corporation (US), and Specialty Silicone Products, Inc. (US).
  Key Market Opportunities   The growing electrical and electronics industry, with the surging demand for consumer electronics such as mobiles phones, TVs, home appliances, and wearable electronic devices
  Key Market Drivers   The rapidly expanding automotive industry across the globe.


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Frequently Asked Questions (FAQ) :

Poor abrasion and resistance for oil & petroleum can deter the silicone elastomers market growth.

The Asia Pacific silicone elastomers market is the largest one.

Automotive, healthcare, electrical & electronics, aerospace, energy, and others are applications that have been studied for the assessment.

The silicone elastomers market players are Wacker Chemie AG (Germany), Momentive (US), Shin-Etsu Chemical Co., Ltd. (Japan), DowDuPont (US), China National Bluestar (Group) Co., Ltd. (China), KCC CORPORATION (South Korea), MESGO S.p.A. (Italy), Reiss Manufacturing, Inc. (US), Bentec Medical (US), Rogers Corporation (US), ALLERGAN (Ireland), and Specialty Silicone Products, Inc. (US).

The booming automotive industry can trigger better growth in the region.