According to the latest report by IMARC Group “Silicone Elastomers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global silicone elastomers market reached a value of US$ 7.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2027, exhibiting a CAGR of 6.29% during 2022-2027.
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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Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global silicone elastomers market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product and application.
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
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 with Key Player:
- 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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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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