Silicone Elastomers market is valued at USD 9.4 billion in 2022 and is projected to reach a value of USD 16.64 billion in 2030 expanding at a CAGR of 7.4% over the forecast period of 2022-2030.
Silicone elastomers are a common name for vulcanised silicone-based polymers. Silicone elastomers are created using catalysts, crosslinkers, linear polymers, and reinforcement. The viscosity and kind of the fundamental straight-chain molecule, as well as the processing temperature, affect the type of elastomer that is created. Examples include high consistency rubber (HCR), liquid silicone rubber (LSR), and room temperature vulcanization (RTV). Forms of silicone elastomers include solid silicone elastomers that conduct heat, open-cell foams that conduct electricity, closed-cell sponge elastomers, and silicone that is electrically conductive. From 10 durometer Shore A (soft) to 70 durometer Shore A, solid silicone sheet and parts are easily accessible (firm).
The exceptional high and low temperature resistance, electrical insulation, physiological inertness, oil resistance, great weatherability, and flame retardance are only a few of the special qualities of silicone elastomers. Silicone elastomers are frequently utilised to replace petrochemical goods in a variety of industries, including aerospace, munitions, automobiles, construction, electric electronics, medical, and food processing, as a result of their distinctive properties. The relative chemical inertness of silicone elastomers to the chemistry of the human body is one of its fundamental characteristics. Without a doubt, silicone elastomers can function as medical devices without having a negative impact on the patient. Gels or tubing for bandage covering are frequent applications for silicones in this industry. Additionally, these materials are frequently employed in implantable medical devices and eyeglass lenses.
Market Trends And Growth:
In recent years, the demand for silicone elastomers has grown dramatically on a global scale. The rising demand for silicone elastomer in the automotive industry. The increase in sales of passenger cars and commercial vehicles is what is driving the silicone elastomer market in the automotive industry.
These elastomers have numerous recognised industrial applications in a variety of manufacturing facilities. The capacity of silicone rubber to be extruded into a variety of shapes and formations has also contributed to the market's expansion. Silicone elastomers are used to make industrial tubes and pipes, which has increased market demand. These rubbers are also used by manufacturers to create robust seals for industrial applications. In the years to come, it makes sense to assume that the worldwide silicone elastomers market will travel a prosperous road.
In the near future, makers of silicone elastomers must deal with the issue of historically low investment in the manufacturing of siloxane, the raw material for silicone elastomers. In example, shortages of high-consistency rubber (HCR), the most significant type of silicone elastomer, have led to rising costs for silicone elastomers.
Market Drivers:
The strong demand from multiple end-use sectors, among other important reasons, has contributed to the silicone elastomers market's growth in recent years. In contrast to other elastomers, silicone elastomers display impressive properties. These qualities have encouraged its adoption across several industries, which has led to significant market growth. The product finds considerable use in the construction, electrical electronics, and automotive end-use industries, all of which have seen rapid growth globally. As their end-use industries continue to expand, developing regions like Central and South America and the Asia Pacific are driving up demand.
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Silicone Elastomers Market: Segmental Analysis
Based On Type:
- High Temperature Vulcanized
- Room Temperature Vulcanized
- Liquid Silicone Rubber
(Industrial Grade, Food Grade, Medical Grade)
Based On End-Use Industry:
- Building Construction
- Electrical Electronics
- Automotive Transportation
- Healthcare
- Consumer Goods
- Foam
- Others
Based On Process:
- Extrusion
- Liquid Injection Molding
- Injection Molding
- Compression Molding
- Others
Key Players:
Dow Inc. (US), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (US), Shin-Etsu Chemical Co., Ltd (Japan), China National Bluestar (Group) Co., (China), Reiss Manufacturing Inc. (US), and CHT Germany GmbH (Germany).
COVID-19 Analysis:
The COVID-19 outbreak has had a significant impact on the silicone elastomers sector. Numerous nations had to go into lockdown due to the pandemic situation in order to contain the rising infection rates. As a result, the demand and supply chains have been disturbed, having an impact on the global sector. Due of the pandemic crisis, several operations, manufacturing facilities, and infrastructure projects had to be suspended.
The COVID-19 epidemic and the fluctuating cost of the raw chemicals required to create silicone elastomers have both slowed the rate of expansion of the worldwide market. On the plus side, things are beginning to return to normal, which bodes well for future market growth.
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FREQUENTLY ASKED QUESTIONS:
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