Silicone Elastomers Market To Reach USD 10.7 Billion By 2027 | CAGR 5.6% – Forencis Research

Silicone Elastomers Market - Global Industry Analysis and Forecast 2020 to 2027

Global Silicone Elastomers Market: Key Highlights

  • According to the new market research report Silicone Elastomers Market by Type (High-Temperature Vulcanized (HTV)/High Consistency Rubber (HCR), Liquid Silicone Rubber (LSR), and Room Temperature Vulcanized (RTV)), by Process (Extrusion, Liquid Injection Molding, Injection Molding, Compression Molding), by End-Use Industry (Automotive & Transportation, Electrical & Electronics, Healthcare, Consumer Goods, Industrial Machinery), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global silicone elastomers market is estimated to reach USD 10.7 Billion by 2027 at a CAGR of around 5.6% during the review period.
  • Silicone elastomers are durable & highly-resistance material composed of silicon together with other molecules including carbon, hydrogen, and oxygen.
  • It possesses superior mechanical properties when it is used for reinforcement such as elasticity, absorption, and tear strength
  • Characteristics that are possessed by the silicone elastomers are excellent heat resistance, good weather ability, flame retardant, cold resistance, electrical properties, chemical resistance, and stability. 

Silicone Elastomers MarketGlobal Silicone Elastomers Market: Key Market Dynamics

  • Superior properties possed by the silicone elastomers making them used in various end-use industries which is likely to drive the silicone elastomers market globally
  • High demand from the electric and electronics industry for silicone elastomers is also a key driving factor for market
  • However, stringent regulatory policies for silicone a major restraining factor for the growth of the silicone elastomers market

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Global Silicone Elastomers Market: Regional Overview

  • Asia-Pacific:

Asia-Pacific is expected to account for the largest share in the global Silicone Elastomers market. Moreover, the region is also expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the easy availability of raw material and cheap labor costs. In addition to this, the increasing foreign investment in the region due to the growing economies in countries such as India, China, Indonesia, South Korea, and many others, thereby leading to the growth of various end-user industries in the Asia-Pacific region. Furthermore, the Asia-Pacific region is anticipated to witness the automotive and electrical & electronics due to the growing population and rising disposal income, thus aiding the regional silicone elastomers market.

Global Silicone Elastomers Market: Key Players Overview

  • Dow:

Dow is US-based one of the leading material science companies that is a combination of science and technology to develop solutions. The company operates through three business segments namely performance materials & coatings, industrial intermediates & infrastructure, and packaging & speciality plastics. Its products serve different applications, including coatings, home and personal care, durable goods, adhesives and sealants, and food and speciality packaging. Besides, the Company operates a global commercial and development network that features eight research and development (R&D) centres.

  • Wacker Chemie AG:

Wacker Chemie AG is a Germany-based engaged in the manufacturing of specialty chemical products. The company operates through four segments: Silicones, Polymers, Biosolutions, and Polysilicon. The silicones segments provide silane, silicone fluids, emulsions, elastomers, sealants, and resins to pyrogenic silicas. In January 2019,  Wacker Chemie AG has expanded its silicone elastomer production in China. The new production at Zhangjiagang in China will help the company for future growth paths in China and improve the availability of high consistency silicone rubber (HCR) in the Asia-Pacific region.

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Rep Id : CM 0167

Published : 2020-09-16