ID: MRFR/CnM/5518-HCR | February 2021 | Region: Global | 140 pages
Silicone Rubber Market is estimated to grow at a CAGR 7.5% from 2022 to 2030.
Silicone rubber is an elastomeric material which consists silicone polymer along with the carbon, hydrogen, oxygen, and fillers. It is either a one-part or a two-part rubber in general. The silicone rubber is inert, stable, highly resistant to the extreme work environments. Some of the other substantial properties exhibited by the silicone rubbers includes the high withstand ability for a wider range of temperature (75°F to 500°F) as compared to nearly all other elastomers, high wear and tear strength, great elongation, high flexibility and a durometer range of 5 to 80 Shore A. Additionally, silicone rubbers are highly non-conductive and maintain greater di-electric strength and resists water, oxidation, various acids, solvents, oils and fuels.
The global factors influencing the overall rubber market are bound to affect the market of silicone rubber equally. The silicone rubber products are widely used in almost all the rapidly growing industries such as automotive, construction and electronics. This is expected to fuel its demand during the forecast period. In past few years the global market for silicone rubber is growing at a robust CAGR on account of its greater adaptability and recyclability favor sustainability principle. Surging construction activities across the world is significantly driving the overall demand for the product during the forecast period. In addition, growing demand for the high water, chemical, oil, and fuel resistant rubber in automotive and electronics applications is likely be the key driver for silicone rubber market during the review period. However, the volatility in the prices of raw materials of silicone rubbers and rapid research in the field of development of ecofriendly and innovative products by leading players may hamper the market growth in coming years.
Some of the key players in the global silicone rubber market are 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, Inc. (US), SIMTEC Silicone Parts (US), Shenzhen Inno Silica Co., Ltd. (China).
Global Silicone Rubber Market Share, by Application, 2017 (%)
Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five regions studied for the global silicone rubber market. Asia-Pacific is the largest in 2017 and fastest growing region in this market during the forecast period. This region has undertaken rapid expansion of its physical infrastructure projects and is incentivizing its footwear making industry, which is anticipated to boost demand for the product in this region during the forecast period. Additionally, rapid growth of both construction and automotive industry in this region is expected to drive the market growth for silicone rubber in this region.
North America is closely following Asia-Pacific and held the second largest market share in 2017. Surging reconstruction activities and growing demand for the product in the automotive industry are driving the growth of regional silicone rubber market.
Europe is another substantial regional market, wherein the demand for the product from in automobile industry has witnessed significant growth. The Middle East & African and Latin American markets held little shares in 2017, yet these regions are estimated to grow at a considerable CAGR of owing to high investment potential and raw material availability.
The global silicone rubber market has been segmented on the basis of type, application, and region.
Based on type, the global silicone rubber market has been segregated into liquid silicone rubber, high consistency rubber, and fluorosilicone rubber, and others.
On the basis of application, the market is categorized into automotive, medical, construction, electronics, footwear, consumer goods, sportswear, and others.
The global silicone rubber market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
|Market Size||2030: Significant Value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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, Inc. (US), SIMTEC Silicone Parts (US), Shenzhen Inno Silica Co., Ltd. (China)|
|Key Market Opportunities||he volatility in the prices of raw materials of silicone rubbers and rapid research in the field of development of ecofriendly and innovative products|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Dwindling raw material prices, combined with investment to find eco-friendly alternatives, can prevent the silicone rubber market the expected growth.
Industries like construction, automotive, and electronics are expected to impact the silicone rubber market growth.
The Asia Pacific region would have a dominating impact on the silicone rubber market.
The silicone rubber market would have impacts from companies like KCC CORPORATION (South Korea), CHT Group (Germany), MESGO S.p.A. (Italy), Elkem Silicones (Norway), Wacker Chemie AG (Germany), Momentive (US), Reiss Manufacturing, Inc. (US), Shin-Etsu Chemical Co. (Japan), Shenzhen Inno Silica Co., Ltd. (China), SIMTEC Silicone Parts (US), and others.
The global market for silicone rubber would witness strategies like acquisition, merger, brand positioning, innovation, product launch, rising R&D investment, collaboration, and others from major companies.