Silicone Elastomers Market to Grow US$ 8.81 billion by 2023

The report covers the market for silicone elastomers across different industry verticals and regions. It aims at estimating the market size and potential of the silicone elastomers market based on type, process, end-use industry, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

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The silicone elastomers market is projected to grow from USD 6.38 billion in 2018 to USD 8.81 billion by 2023, at a CAGR of 6.7% between 2018 and 2023. The superior properties of silicone elastomers, aging population fueling the demand from the healthcare industry, and high demand for silicone elastomers from the electrical & electronics industry are driving the silicone elastomers market across the globe.

The silicone elastomers market has a diversified and established ecosystem of upstream players such as raw material suppliers and downstream stakeholders such as manufacturers and vendors of silicone elastomers, end users, and government organizations. The key players in the silicone elastomers market include Dow Corning (US), Wacker Chemie (Germany), Momentive Performance Materials (US), Shin-Etsu (Japan), China National Bluestar Silicones (China), KCC Corporation (South Korea), Reiss Manufacturing (US), Mesgo SpA (Italy), Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China), and Specialty Silicone Products (US).

Key Target Audience:
• Manufacturers of silicone elastomers
• Suppliers of silicone elastomers
• Traders and distributors of silicone elastomers
• Government & regional agencies and research organizations
• Investment research firms

The silicone elastomers market is covered in detail in this report. The current market demand and forecasts are also included in this report to provide a comprehensive market scenario.

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APAC is the largest silicone elastomers market. The growth in this region is mainly attributed to the high economic growth rate and heavy investments in the automotive & transportation, electrical & electronics, and healthcare industries. In the recent years, APAC has emerged as a major market for silicone elastomers because of the growing demand from China and India.

Silicone Elastomers Market, By Type
1. Introduction
2. High Temperature Vulcanized/High Consistency Rubber
3. Liquid Silicone Rubber
4. Room Temperature Vulcanized

Silicone Elastomers Market, By Process
1. Introduction
2. Extrusion
3. Liquid Injection Molding
4. Injection Molding
5. Compression Molding

Silicone Elastomers Market, By End-Use Industry
1. Introduction
2. Automotive & Transportation
3. Electrical & Electronics
4. Healthcare
5. Consumer Goods
6. Industrial Machinery

9 Silicone Elastomers Market, By Region
1. Introduction
2. APAC
3. North America
4. Europe
5. South America
6. Middle East & Africa

On the basis of end-use industry, automotive & transportation is largest segment of silicone elastomers market, in terms of both volume and value. Silicone elastomers are widely used in the automotive & transportation industry for the manufacturing of spark plug boots, connector seals, turbocharger hoses, silicone wiper blades, gaskets, and ignition cables. The use of these elastomers has revolutionized the designing and manufacturing process in the automotive & transportation industry.

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Reasons to Buy the Report

The report is expected to help market leaders/new entrants by providing them with the closest approximations of revenues in the silicone elastomers market. This report also aims at helping the stakeholders understand the competitive landscape of the market by providing them insights to position their businesses and formulate market strategies. The report is also expected to help the stakeholders understand the pulse of the market and acquire information on the key drivers, restraints, challenges, and opportunities for the silicone elastomers market.

The break-up of the primary interviews is given below:
• By Company Type: Tier 1 – 42%, Tier 2 – 25%, and Others – 33%
• By Designation: C Level – 36%, Director Level – 19%, and Others – 45%
• By Region: Europe – 42%, North America – 25%, APAC – 17%, South America – 8%, and the Middle East & Africa – 8%

The liquid injection molding process segment of the silicone elastomers market is projected to register the highest CAGR between 2018 and 2023, in terms of both volume and value.

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This release was published on openPR.