Silicone Elastomers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

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 6.24% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Also known as silicone rubbers, silicone elastomers are made by combining linear polymers, reinforcing agents, cross-linkers, and catalysts. They assist in providing heat and moisture resistance, flame retardancy, and weatherability. They also offer dielectric properties to insulate and protect electronic equipment like high voltage lines. At present, silicone elastomers are widely available in a variety of forms, including electrically and thermally conductive, open-cell foams and closed-cell sponges.

Silicone Elastomers Market Trends:
The increasing utilization of silicone elastomers in the automotive sector around the world represents one of the key factors stimulating the growth of the market. These elastomers are employed in the manufacturing of connector seals, spark plug boots, turbocharger hoses, gaskets, silicone wiper blades, and ignition cables. Moreover, they offer low surface friction, thermal and tear resistance, and self-adhesive qualities. As a result, they find extensive application in the construction, healthcare and industrial sectors across the globe. Apart from this, silicone elastomers are used as tape, sheet, wire, cable coverings for electrical insulation. The market is also driven by the rising utilization of silicone elastomers in the personal care and cosmetic industries around the world. They are employed as an alternative to traditional high oil and fatty alcohol systems to provide soft focus and line-filling properties. Furthermore, leading manufacturers are investing in research and development (R&D) activities to expand their product portfolio. This, along with rapid urbanization and industrialization, burgeoning automotive industry, increasing willingness among individuals to undergo plastic surgery for looking presentable, is fueling the market growth. Additionally, the ability of silicone elastomers to be extruded into different shapes and formations is anticipated to impel the growth of the market.

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:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and Wacker Chemie AG.

Key Questions Answered in This Report:
How has the global silicone elastomers market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global silicone elastomers market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global silicone elastomers market and who are the key players?
What is the degree of competition in the industry?