The global Silicone Elastomers Market is expected to be valued at USD 10.80 Billion in 2027 from USD 6.82 billion in 2019, registering a CAGR of 5.7% through the forecast period. The global market growth is primarily attributed to the constantly rising industrial applications of silicone elastomers due to their superior properties, such as wear & tear resistance, low surface friction, robust heat resistance, and self-adhesive nature. The ever-increasing demand for silicone elastomers across the electrical & electronics, automotive, construction, consumer goods, packaging, and healthcare industries is a crucial parameter contributing to the growth of the global silicone elastomers market. The growing usage of silicone elastomers in mold-making, ornaments, toys, furniture, optical lenses, industrial machinery, and adhesives & sealants further boosts the market growth.
In recent years, manufacturers have increasingly invested in research & development activities to advance these materials technologically. For instance, in July 2020, a team of engineers at Freudenberg Sealing Technologies, a leading manufacturer of industrial sealants, developed a silicone elastomer with a high heat-resistance capacity and electrical insulation properties. Freudenberg’s latest innovation is specifically designed for use in various electric car components, semiconductors, and several other automotive electrical components.
Key companies in this industry include Dow Corning, Wacker Chemie, Momentive Performance Materials, KCC Corporation, Chemical Industrial Group Co., Ltd., China National Bluestar Silicones, Reiss Manufacturing, Shin-Etsu, Zhejiang Xinan Specialty Silicone Products, and Mesgo SpA.
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For the purpose of this report, the global silicone elastomers market has been segmented on the basis of product type, technology, application, and region:
By Product Type (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
By Technology (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
By Application (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
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Global Silicone Elastomers Market: Table of Contents
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2018-2026 Chapter 3. Indicative Metrics 3.1. Macro Indicators 3.1.1. Antimicrobial Silicone Elastomers contribution for Healthcare Industry 3.1.2. Increasing Demand for Automotive Vehicles Chapter 4. Silicone Elastomers Market Segmentation & Impact Analysis 4.1. Silicone Elastomers Market Segmentation Analysis 4.2. Silicone Elastomers Market Value Chain Analysis, 2018-2026
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