The
global Silicone Elastomer Market size is expected to
reach USD 12.6 billion by 2030, registering a CAGR of 10.3% from 2024 to 2030,
according to a new study by Grand View Research, Inc. Superior quality
over conventional elastomers makes it ideal for industrial usage, thereby
positively affecting the overall industry. End-use industries, such as
construction, automotive, and electrical & electronics, are expected to
witness rapid growth over the forecast period. Silicone elastomers are widely
used in the medical and healthcare industries. Silicone elastomers have quickly
acquired popularity in the medical and healthcare industries, from medical
equipment to drug delivery systems. Favorable features, such as inertness, high
permeability, ease of processing, and low toxicity contribute to this acceptability.
With
a rising population, the medical sector has been under immense pressure to meet
the rising healthcare demand. Moreover, the aging population in certain
countries of the world, such as North America, is expected to put a burden on
the medical and healthcare business throughout the projection period.
Construction was a dominant application segment in 2023. It was followed by the
automotive and electrical & electronics segments, which held 23.8% and
13.8% shares, respectively, in the same year. The electrical & electronics
segment is expected to grow at the fastest CAGR from 2024 to 2030. The
electronics end-use segment is expected to witness a significant growth rate
during the forecast period. Silicone elastomer is used to enclose electronic
components to increase their stability against vibration, shock, and radiation.
Thus,
it helps enhance durability, thereby, boosting the overall performance of the
device under extreme conditions, such as zero gravity and low-pressure areas.
Factors, such as expanding population, increasing disposable income of the
middle-class population, and digitalization are creating significant growth
opportunities for the electronics industry. This, in turn, is expected to boost
product demand over the forecast period. Key companies are constantly engaged
in mergers & acquisitions, developing new products, and other techniques to
enhance their market share. For instance, in November 2021, Momentive
Performance Materials Inc. acquired KCC Corp.’s silicone business in the U.K.
and Korea as well as the sales operations in China. This agreement will enable
Momentive Performance Materials Inc. to further expand its global footprint
across advanced silicones.
Related Press
Release@ Silicone Elastomer Market Report
List Of Key Players Of Silicone Elastomer Market
- China
National BlueStar (Group) Co., Ltd.
- Dow Corning
Corporation
- KCC
Corporation
- Mesgo S.P.A.
- Momentive
Performance Materials Inc.
- Shin-Etsu
Chemical Co., Ltd.
- Reiss
Manufacturing Inc.
- Wacker
Chemie AG
- Zhejiang
Xinan Chemical Industrial Group Co., Ltd.
- Stockwell
Elastomerics
- Specialty
Silicone Products, Inc.
Silicone Elastomer Market Report Highlights
- In 2023,
Asia Pacific was the largest revenue-generating region due to rapidly
growing economies, such as India, China, and South Korea
- Moreover,
leading players are shifting their manufacturing bases to Asia Pacific on
account of the availability of cheap labor. This is expected to drive the
regional market during the forecast period
- Liquid
Silicone Rubber (LSR) was the largest product segment in 2023 and is
anticipated to expand further at a steady CAGR retaining the dominant
position throughout the forecast period
- LSR uses
only additive curing with platinum and is compatible with temperatures
ranging from -60°C to 250°C, owing to which, it is widely used in the
production of complex and small-size elastomeric parts for automotive
& medical devices
- In March
2022, Shin-Etsu Chemical Co., Ltd. developed a new vulcanization type of
one-component LSR under the recently introduced KCP series product line.
The new product is superior in vulcanization attributes and safety
For Free Consultation @ https://www.grandviewresearch.com/request-free-consultation/1194/rfc
Silicone Elastomer Market Segmentation
Grand
View Research has segmented the global silicone elastomer market report based
on product, application, and region
Silicone Elastomer Product Outlook (Volume, Kilotons;
Revenue, USD Million, 2018 - 2030)
- High-temperature
Vulcanize (HTV)
- Room-temperature
Vulcanize (RTV)
- Liquid
Silicone Rubber (LSR)
Silicone Elastomer Application Outlook (Volume, Kilotons;
Revenue, USD Million, 2018 - 2030)
- Electrical
& Electronics
- Automotive
& Transportation
- Industrial
Machinery
- Consumer
Goods
- Construction
- Others
Silicone Elastomer Regional Outlook (Volume, Kilotons;
Revenue, USD Million, 2018 - 2030)
- North
America
- U.S.
- Europe
- Germany
- France
- U.K.
- Italy
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central
& South America
- Brazil
- Middle East
& Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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