Global Silicone Rubber Market Size, Trends & Growth Opportunity, By Product & Service, By Type, (Liquid Silicone Rubber, High Consistency Rubber (HCR), Room Temperature Vulcanization (RTV), Fluorosilicate Rubber), By Application (Gasket &Seals, Adhesives

Global Silicone Rubber Market Size, Trends & Growth Opportunity, By Product & Service, By Type,

(Liquid Silicone Rubber, High Consistency Rubber (HCR), Room Temperature Vulcanization (RTV), Fluorosilicate Rubber), By Application (Gasket &Seals, Adhesives &Sealants, Coatings, Encapsulants) By End User, (Electronics, Aerospace Construction, Medical) By Region and Forecast till 2027.

Global Silicone Rubber Market

Global Silicone Rubber Market was valued at US$ 10,929.42 Mn in 2021, estimated to reach US$ 18,290.55 Mn in 2027, with a CAGR of 9.21% from 2022-2027.The scope of the Silicone Rubber market covers segmentation on the basis of by type, end user industry and by region.

Global Silicone Rubber defined as “Silicone rubber is a synthetic rubber, inorganic in nature, made via cross-linking of silicone-based polymers in the presence of specific catalysts, and this compound is available in a variety of forms, including solids, closed cell sponges, open-cell foams, electrically conductive, and thermally conductive materials, considered as a chemical bridge between inorganic & organic polymers, owing to its unique combination of mechanical and chemical properties.”

Market Drivers

Silicones are one of the most versatile products, with applications in a wide variety of industries. They have distinct properties such as durability, di-electricity, adhesion, foam control, discharge safety, UV stability, glossiness, transparency, radiation resistance, hydrophobicity, heat resistance, and flexibility, allowing them to be used in a wide range of forms and applications.

This long-lasting and highly resistant material is best suited for use in temperatures above 100°C (the limit of most other rubbers). Silicone rubber is non-toxic and is used in applications requiring food quality. Among the types segment, Liquid Silicone Rubber Silicone Rubber segment, is expected to drive the market demand for Silicone Rubber market, and would grow at a CAGR of 8.23% during the

forecast period.

Market Restraints

The most significant challenge in the global silicone rubber market is the constant fluctuation of raw material and energy prices. The sharp increase in raw material prices, such as methyl chloride and silicon metal, from 2016 to 2018, indirectly reduces silicone rubber producers' profit margins.

As a result, the price of rubbers as a whole rise. Rising raw material costs are expected to have an adverse effect on the global silicone rubber market. Silicone rubber producers are constantly faced with high and volatile feedstock costs, which they are expected to pass on to end users.

Market Segmentation

Global Silicone Rubber Market is segmented into By Type, By Application & By Region. By type market is segmented into Liquid Silicone Rubber, High Consistency Rubber, Room Temperature Vulcanization, Fluorosilicone Rubber. By application market is segmented into Healthcare, Automotive, Electricals & Electronics, others (Domestic uses, Aviation, Construction).

Regional Analysis

Global Silicone Rubber Market is segmented into five regions such as North America, Europe, Asia Pacific, Latin America, and MEA. The market in Asia-Pacific is projected to dominate the Silicone Rubber market owing to the rise in Electricals & Electronics segment in the region, where the Silicone rubber finds its major application segment. Europe is expected to grow at a significant growth rate due to presence of manufacturing and automotive industries in Germany and other countries in Europe.

Key Players

Key companies across the Silicone Rubber market include ICM Products Group, Elkem AS, KCC Corporation, The Dow Chemical Company, Mesgo S.p.A., Momentive Performance Materials Inc., Reiss Manufacturing, Inc., Shin-Etsu Chemical Co., Ltd., Specialty Silicone Products Inc., Wacker Chemie AG (Wacker).

Market Taxonomy

By Type

• Liquid Silicone Rubber
• High Consistency Rubber (HCR)
• Room Temperature Vulcanization (RTV)
• Fluorosilicone Rubber

• Healthcare
• Automotive
• Electricals & Electronics
• Others (Domestic Uses, Aviation, Construction)

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa