According to the latest report by IMARC Group “Silicone Elastomers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The global silicone elastomers market size reached US$ 8.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.
Silicone elastomers, also called silicone rubbers, are manufactured by combining linear polymers, reinforcing agents, cross-linkers, catalysts, etc. They aid in providing heat and moisture resistance, flame retardancy, weather ability, etc. In addition to this, silicone elastomers offer dielectric properties to insulate and protect electronic equipment. Consequently, they find extensive applications in various sectors, including construction, healthcare, industrial, etc. Presently, silicone elastomers are commonly available in a wide array of forms, including electrically and thermally conductive, open-cell foams, closed-cell sponges, etc.
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Silicone Elastomers Market Trends:
The growing product utilization in the manufacturing of connector seals, turbocharger hoses, spark plug boots, gaskets, silicone wiper blades, ignition cables, etc., is primarily driving the silicone elastomers market. Additionally, the rising adoption of these polymers as coated glass-fiber cloths, tapes, extruded sleeving and moldings, sheet, wire and cable coverings, braided glass sleeving, etc., for electrical insulation is further catalyzing the market growth. Besides this, the shifting consumer preferences from traditional high oil and fatty alcohol systems towards silicone elastomers to provide soft focus and line-filling properties are acting as significant growth-inducing factors. Moreover, the escalating demand for silicone rubbers to fabricate the electrical systems, engine, interiors, and other body parts of an automobile is also positively influencing the global market. Apart from this, the leading manufacturers are investing in R&D activities to expand their product portfolio, which is anticipated to fuel the silicone elastomers market over the forecasted period.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product:
- High Temperature Vulcanize (HTV)
- Room Temperature Vulcanize (RTV)
- Liquid Silicone Rubber (LSR)
Breakup by Application:
- Electrical and Electronics
- Automotive and Transportation
- Industrial Machinery
- Consumer Goods
- Construction
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape:
- Bentec Medical
- China National Bluestar (Group) Co. Ltd.
- Dow Inc.
- KCC Corporation
- MESGO SpA (Hexpol AB)
- Momentive Performance Materials Inc.
- Reiss Manufacturing Inc.
- Shin-Etsu Chemical Co. Ltd.
- Specialty Silicone Products Inc. (Heico Corporation)
- Stockwell Elastomerics Inc.
- Wacker Chemie AG.
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