Silicone Rubber Market Research Report - Forecast till 2032

Silicone Rubber Market Research Report Information By Type (Liquid Silicone Rubber, High Consistency Rubber, and Fluorosilicone Rubber), By Application (Automotive, Medical, Electronics, Construction, Footwear, Consumer Goods, and Sportswear), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/CnM/5518-HCR | 140 Pages | Author: Anshula Mandaokar | February 2024         

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Global Silicone Rubber Market Overview


In 2022, the silicone rubber market was estimated to be worth USD 2.3 billion. The Silicone Rubber Market is expected to increase from USD 2.4 billion in 2023 to USD 4.4 billion by 2032, at a compound annual growth rate (CAGR) of 7.50% between 2023 and 2032. The burgeoning construction industry and the rising demand for electric vehicles are the key market drivers enhancing the market expansion.                            Silicone Rubber Market Overview


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Silicone Rubber Market Trends




  • Increasing demand for medical-grade silicone rubber drives market growth




Market CAGR for silicone rubber market is being driven by the increasing demand for medical-grade silicone rubber for various applications in the healthcare industry. Because of its superior qualities such as biocompatibility, sterilization resistance, and chemical resistance, medical-grade silicone rubber is widely utilized in the fabrication of medical devices, implants, and drug delivery systems. The growing frequency of chronic diseases such as diabetes, cancer, and cardiovascular disease is driving demand for medical equipment and implants, which in turn drives demand for medical-grade silicone rubber. The aging population is also increasing the demand for medical-grade silicone rubber, since the elderly are more prone to chronic ailments and require more medical interventions.


Furthermore, the increased emphasis on patient safety and quality of treatment is increasing demand for high-quality medical-grade silicone rubber that satisfies regulatory criteria and assures patient safety. The increasing need for healthcare services, as well as the developing trend of personalized treatment, is projected to fuel demand for medical-grade silicone rubber in the coming years.


Another driver of the silicone rubber market is the rising interest in electric cars (EVs). Due to its superior qualities, including as high-temperature resistance, electrical insulation, and chemical resistance, silicone rubber is widely utilized in the fabrication of EV components such as battery packs, charging cables, and connectors. The growing concern about climate change and the need to cut greenhouse gas emissions are driving up demand for EVs. Governments throughout the world are also encouraging the use of electric vehicles through various incentives and subsidies, which is driving demand for EV components such as silicone rubber. The increasing adoption of EVs and the expanding trend of sustainable mobility are likely to fuel increased demand for silicone rubber in the EV industry in the future years.


Moreover, Silicone rubber is widely utilized in the construction sector for a variety of applications including sealants, adhesives, coatings, and insulation. The growing demand for high-performance building materials such as energy-efficient windows, weather-resistant roofs, and long-lasting flooring is fueling the construction industry's demand for silicone rubber.


For instance, it is used to make silicone sealants, which are commonly used to seal windows, doors, and other building components. Silicone sealants have exceptional adhesion, flexibility, and durability, making them perfect for sealing building seams and gaps. Silicone rubber is also used to make silicone coatings, which are utilized for weatherproofing and insulation.


Silicone Rubber Market Segment Insights


Silicone Rubber Type Insights


The  Silicone Rubber Market segmentation, based on type includes liquid silicone rubber, high-consistency rubber, and fluoro silicone rubber. The liquid silicone rubber segment is a market leader in the silicone rubber industry. Because of its exceptional qualities, such as high-temperature resistance, biocompatibility, and chemical resistance, among others, LSR is widely employed in a variety of applications, including automotive, healthcare, and electronics. The increasing demand for medical-grade silicone rubber, the expanding use of electric vehicles, and the rising demand for consumer electronics are all projected to increase LSR demand in the future years.


Figure1: Silicone Rubber Market, by Type, 2022&2032 (USD Billion)                            Silicone Rubber Market, by Type, 2022&2032


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Silicone Rubber Application Insights


The  Silicone Rubber Market segmentation, based on Application, includes automotive, medical, electronics, construction, footwear, consumer goods, and sportswear. The electronics segment is one of the fastest-growing areas in the silicone rubber market, owing to rising demand for electronic devices such as smartphones, tablets, and wearables, as well as increased use of electric vehicles. Silicone rubber is widely utilized in the electronics sector due to its outstanding features, which include high-temperature resistance, electrical insulation, and chemical resistance, among others.


Silicone Rubber Regional Insights


The analysis covers market insights for North America, Europe, Asia-Pacific, and the Rest of the World.. North America dominates the silicone rubber market due to a number of factors, including the presence of key market players, rising demand for silicone rubber in a variety of end-use industries such as automotive, construction, and healthcare, and the region's increasing adoption of advanced technologies. The region boasts a well-established industrial infrastructure as well as favorable government regulations that encourage the establishment of numerous sectors, including silicone rubber.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure2: SILICONE RUBBER MARKET SHARE BY REGION 2022 (USD Billion)                                 SILICONE RUBBER MARKET SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Europe's Silicone Rubber Market accounts for the second-largest market share because of increased environmental and climate change awareness, as well as Europe's shift to electric vehicles. Further, the German Silicone Rubber Market held the largest market share, and the UK Silicone Rubber Market was the fastest-growing market in the European region


The Asia-Pacific Silicone Rubber Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the rising rise in the production of autos. Moreover, China’s Silicone Rubber Market held the largest market share, and the Indian Silicone Rubber Market was the fastest-growing market in the Asia-Pacific region.


Silicone Rubber Key Market Players & Competitive Insights


Leading market players are extensively investing in research and development in order to extend their product lines, which will help the Silicone Rubber Market grow even further. Market participants are also engaging in a number of strategic initiatives to grow their worldwide presence, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. The silicone Rubber industry must produce cost-effective products in order to flourish and thrive in a more competitive and expanding market environment.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  Silicone Rubber industry to benefit clients and increase the market sector. In recent years, the Silicone Rubber industry has offered some of the most significant advantages to medicine. Major players in the Silicone Rubber Market, including Momentive (US), Wacker Chemie AG (Germany), Shin-Etsu, Chemical Co. (Japan), Reiss Manufacturing, SIMTEC Silicone Parts (US), Shenzhen Inno Silica Co and others, are attempting to increase market demand by investing in research and development operations.


Dow Chemical Company, officially Dow Inc., is an American multinational corporation based in Midland, Michigan. The firm is one of the world's top three chemical makers. It employs over 37,800 people worldwide and has a presence in approximately 160 countries. Dow has been dubbed the "chemical companies' chemical company" because its products are sold to other industries rather than directly to end users. Dow participates in the American Chemistry Council. In 2020, Dow announced the debut of DOW CORNINGTM HTE-7320 Thermally Conductive Adhesive, which is developed for advanced power electronics applications, to expand its portfolio of high-temperature silicone elastomers.


The largest chemical company in Japan is Shin-Etsu Chemical Co., Ltd., which is ranked ninth in the Forbes  2000 for the chemical industry. The photomask substrate, semiconductor silicon, and polyvinyl chloride markets are all dominated by Shin-Etsu. The business was named one of Thomson Reuters' Top 100  Innovators in 2011, 2012, 2013, and 2014. The word "Shin-Etsu" comes from the Shin'etsu Region, where the company established its first chemical factory as Shin-Etsu Nitrogen Fertiliser in 1926. Today, the corporation is headquartered in Tokyo and has production sites in 14 other nations. In 2020, Shin-Etsu Chemical Co., Ltd. announced the increase of its silicone rubber manufacturing capacity in Japan and the United States to fulfill the growing demand for silicone rubber in industries such as automotive, electronics, and healthcare.


Key Companies in the Silicone Rubber market include



  • CHT Group (Germany)

  • KCC CORPORATION (South Korea)

  • Elkem Silicones (Norway)

  • MESGO S.p.A. (Italy)

  • Momentive (US)

  • Wacker Chemie AG (Germany)

  • Shin-Etsu Chemical Co. (Japan)

  • Reiss Manufacturing

  • SIMTEC Silicone Parts (US)

  • Shenzhen Inno Silica Co.


Silicone Rubber Industry Developments


In March 2020, Momentive Performance Materials Inc. has introduced SiloprenTM LSR 27x9, a new silicone rubber product designed for the fabrication of automobile parts such as gaskets, seals, and connectors, with better processing and performance features.


In August 2021, Silbione® Biomedical LSRs, a new liquid silicone rubber (LSR) product from Elkem Silicones, are designed for medical and healthcare applications and feature biocompatibility, sterilization resistance, and high purity.


In November 2020, Wacker Chemie AG announced the expansion of its silicone rubber production capacity in China with the construction of a new production site in Zhangjiagang, Jiangsu Province, which will produce various types of silicone rubber for the Chinese and markets, including high-temperature vulcanizing silicone rubber (HTV) and liquid silicone rubber (LSR).


Silicone Rubber Market Segmentation


Silicone Rubber Market By Type Outlook



  • Liquid Silicone Rubber

  • High Consistency Rubber

  • Fluorosilicone Rubber


  Silicone Rubber Market By Application Outlook



  • Automotive

  • Medical

  • Electronics

  • Construction

  • Footwear

  • Consumer Goods

  • Sportswear


Silicone Rubber Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size2022 USD 2.3Billion
Market Size 2023 USD 2.4Billion
Market Size2032 USD 4.4 Billion
Compound Annual Growth Rate (CAGR) 7.50% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled CHT Group (Germany), KCC CORPORATION (South Korea), Elkem Silicones (Norway), MESGO S.p.A. (Italy), Momentive (US), Wacker Chemie AG (Germany), Shin-Etsu, Chemical Co. (Japan), Reiss Manufacturing, SIMTEC Silicone Parts (US), Shenzhen Inno Silica Co. among others
Key Market Opportunities The semiconductor business is growing.
Key Market Dynamics Growth in the automotive industry




Frequently Asked Questions (FAQ) :

The Silicone Rubber Market size was valued at USD 2.3Billion in 2022.

The market is projected to grow at a CAGR of 7.50% during the forecast period, 2023-2032.

North America had the largest share in the Silicone Rubber Market

The key players in the market are Momentive (US), Wacker Chemie AG (Germany), Shin-Etsu, Chemical Co. (Japan), Reiss Manufacturing, SIMTEC Silicone Parts (US), Shenzhen Inno Silica Co.

The Liquid Silicone Rubber (LSR)category dominated the market in 2022.

Electronics had the largest share in the Silicone Rubber Market

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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