Silicone Elastomers Market Size is valued at USD 9.64 billion in 2022 and is predicted to reach USD 17.70 billion by the year 2031 at a 7.1% CAGR during the forecast period for 2023-2031.
Silicone elastomers are silicone-based polymers that have been vulcanized. Silicone elastomers are created using linear polymers, reinforcing agents, crosslinkers, and a catalyst. The viscosity and kind of essential straight-chain molecule, as well as the processing temperature, affect the type of elastomer generated, such as high consistency rubber (HCR), liquid silicone rubber (LSR), and room temperature vulcanization (RTV). Silicone elastomers outperform other elastomers in terms of performance. Because of these properties, it is essential for industrial use, which benefits the worldwide silicone market. The global silicone elastomer market is being driven by the increasing demand for silicone elastomer in the automotive industry. The surge in sales of passenger automobiles and commercial vehicles is driving the silicone elastomer market in the automotive industry.
However, due to lower consumer spending, travel restrictions, and production halts, demand for silicone elastomers in particular industries, such as automotive and aerospace, declined dramatically during the epidemic's early stages. In contrast, growing demand in sectors such as medical equipment and healthcare drove adjustments in demand patterns.
Competitive Landscape
Some of the Silicone Elastomers Market players are:
- AB Specialty Silicones, LLC
- Avantor, Inc.
- Bellofram Silicones
- China National BlueStar (Group) Co., Ltd.
- CHT Germany GmbH (Germany)
- Dow Corning Corporation
- Dupont De Nemours, Inc.
- KCC Corporation
- Mesgo S.P.A.
- Momentive Performance Materials Inc.
- Reiss Manufacturing Inc.
- Shin-Etsu Chemical Co., Ltd.
- Silicone Solutions, Inc.
- Specialty Silicone Products, Inc.
- Stockwell Elastomerics
- Wacker Chemie AG
- Zhejiang Xinan Chemical Industrial Group Co., Ltd.
Market Segmentation:
The Silicone Elastomers Market is segmented based on type, end-use, and process. The type segment includes high-temperature vulcanized, room-temperature vulcanized, and liquid silicone rubber. The liquid silicone rubber segment includes industrial, food, and medical grades. End-use provides building and construction, electrical and electronics, automotive transportation, healthcare, consumer goods, foam, and others. The process segment includes extrusion, liquid injection molding, injection molding, and compression molding.
Based On Type, The High-Temperature Vulcanized (HTV) Segment Is Accounted As A Significant Contributor In The Silicone Elastomers Market
The high-temperature vulcanized category is expected to hold a major share of the global Silicone Elastomers Market in 2022. HTV elastomers are cured at high temperatures using either platinum catalysis or organic peroxides. To increase mechanical strength, reinforcing fillers are applied to the cured rubber. Because of their superior features, such as increased siloxane bond strength, electrical conductivity, radiation resistance, steam resistance, flame retardance, oil resistance, and extreme temperature resistance, HTVs have a wide range of applications. Growing demand in major end-use sectors, particularly in developing nations, will likely be a significant development driver.
The Extrusion Segment Witnessed Growth At A Rapid Rate
The extrusion segment is projected to grow rapidly in the global Silicone Elastomers Market. The rise in the electronics and electrical industry is expected to drive the demand for extrusion processes. Uncured rubber is continuously extruded using a die in the extrusion process to achieve a suitable, homogenous cross-sectional size and shape prior to curing. This method is ideal for tubing rods, bigger gaskets, seals, wire insulation, and preforms for compression molding because it typically has high production rates and quick lead times. Fluorosilicone rubber (FSR) and HCR/HTV are both utilized with it.
In The Region, The Asia Pacific Silicone Elastomers Market Holds A Significant Revenue Share
Asia Pacific Silicone Elastomers Market is expected to record the highest market share in revenue in the near future because the region produces more significant numbers of automobiles, driving up the demand for silicone elastomers there. In Asia-Pacific, nations like Malaysia, Japan, Taiwan, and India are producing more cars. In addition, Europe is anticipated to develop rapidly due to the high need for silicone elastomers in end-use sectors brought on by fast industrialization and urbanization, as well as growing disposable income driving up demand for consumer products and automobiles.
Silicone Elastomers Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 9.64 Bn |
|
Revenue Forecast In 2031 |
USD 17.70 Bn |
|
Growth Rate CAGR |
CAGR of 7.1% from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn, Volume (KT) and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Drug Class, By Indication, By Distribution Channel, By End User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Dow Inc. (US), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd (Japan), China National Bluestar (Group) Co., (China), Momentive Performance Materials Inc. (US), Reiss Manufacturing Inc. (US), and CHT Germany GmbH (Germany) |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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