Silicone Elastomers Market By Type (Room Temperature Vulcanized, Liquid Silicone Rubber, and High Temperature Vulcanized), by Process (Compression Molding, Liquid Injection Molding, Injection Molding, Extrusion, and Others) and for Application (Construction, Electrical & Electronics, Healthcare, Industrial Machinery, Automotive & Transportation, Consumer Goods, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024

Global silicone elastomers market expected to reach USD 12.37 billion in 2024, growing at a CAGR of 6.2% between 2018 and 2024. In terms of volume, the global silicone elastomers market stood at approximately 4.08 kilotons in 2017. Silicone elastomers are the vulcanized polymers of silicone. It is derived synthetically by using various kind of manufacturing processes such as extrusion, injection molding, compression, and others.

13-Aug-2018 | Number of pages: 110 | Report Code: ZMR-1581 | Report Format : | Status : Published

Analysis

Silicone elastomer is a vulcanized silicone-based polymer. It is often referred as silicone rubber. This material is readily available in different forms such as solids, thermally conductive, open cells foams, electrically conductive, and closed cells sponge. It exhibits unique mechanical and chemical properties that a conventional elastomer cannot match. Thus, it finds numerous end-users in various applications such as healthcare, electrical and electronics, automotive, consumer goods, and others. 

The global silicone elastomers market is primarily driven by growing demand for silicone elastomers especially in industrial machinery and consumer goods. Additionally, increasing end-uses of silicone elastomer in the automotive sector is likely to boom the market’s growth in the forthcoming years. However, high product cost may hamper the market growth. Nonetheless, growing transmission and distribution, as well as expanding healthcare sector across the developing regions such as China, India, Brazil, and South Africa, may offer the new avenues for the market in the forecast period. 

Global Silicone Elastomers Market

Based on types, the global silicone elastomers market is segregated into room temperature vulcanized, liquid silicone rubber, and high temperature vulcanized. Among all, liquid silicone rubber was the largest segment of the global silicone elastomers market in 2017. It held significant market share over the past few decades and it is also expected to witness the highest growth over the forecast period. Furthermore, other types of silicone elastomers such as room temperature vulcanized and high temperature vulcanized are predicted to witness moderate growth in the near future.

The silicone elastomers can be manufactured using different processes such as compression molding, liquid injection molding, injection molding, extrusion, and others. Among these processes, extrusion was the most attractive process of silicone elastomers market in 2017. Liquid injection molding was the second largest process of the market in 2017. Furthermore, it is likely to experience the fastest growth of the market in the coming future. Moreover, compression molding and injection molding is expected to grow at a moderate pace during the next few years. 

Construction, electrical & electronics, healthcare, industrial machinery, automotive & transportation, consumer goods, and others are some of the major applications of the global silicone elastomers market. Construction was the leading application sector of the global silicone elastomers market in 2017. Moreover, it is expected to grow at a moderate pace in the coming years. Automotive & transportation is predicted to grow at the highest CAGR in the years to come. Silicone elastomer is used in room temperature vulcanization adhesives and as anti-foaming agents in the industrial sector. Thus, industrial machinery application is likely to gain traction in the upcoming years. 

The Asia Pacific was the dominating market for silicone elastomers in 2017 and further, it is expected to exhibit the highest growth in the forthcoming years. This growth is attributed to the growing automotive, healthcare, and construction industries especially in developing countries such as China, India, Korea, and Southeast countries over the next few years. Moreover, Asia Pacific was followed by Europe and North America in the same year. Latin America and the Middle East & Africa are projected to cater moderate growth in the coming future. 

Some of the key players in the global silicone elastomers market include Dow Corning, Cabot Corporation, AkzoNobel, Bentec Medical Incorporated, ELMET, and Reiss Manufacturing Incorporated. Other players influencing the market are Sigmasoft Engineering GmbH., Wacker Chemie AG, Momentive, Allergan, ContiTech AG, Saint-Gobain, Shin-Etsu Chemical Company Limited, Arlon Silicone Technologies, Rogers Corporation, MESGO s.p.A, and Marsh Bellofram.


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