Silicone Elastomers Market Size Worth $ 11.9 Billion by 2028 | CAGR 5.4%

According to the latest report by IMARC Group "Silicone Elastomers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global silicone elastomers market size reached US$ 8.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Silicone elastomers refer to a class of materials that exhibit both elastomeric (rubber-like) and silicone-like properties. They are made by crosslinking silicone polymers, which create a three-dimensional network of chains that imparts elasticity and durability to the material. They are commonly used in a wide range of applications, such as medical devices, automotive components, and consumer products like phone cases and kitchenware. Moreover, silicone elastomers are widely known for their biocompatibility, making them ideal for medical implants and other healthcare applications. They can also be formulated with various additives and fillers to create materials with specific desired properties, such as enhanced electrical conductivity or improved flame resistance.

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Silicone Elastomers Market Trends:

One of the primary factors driving the market is the augmenting product demand from various end-use industries, including aerospace, automotive, healthcare, and consumer goods. Additionally, silicone elastomers offer a unique combination of properties, such as high temperature and chemical resistance and low compression set. These properties make them ideal for applications where other elastomers would not be suitable, thus creating a favorable market outlook. Other than this, the rising demand for electric vehicles (EVs) is positively influencing the market growth as silicone elastomers are extensively used in numerous automotive applications, including electric vehicle components, such as battery cells and connectors. Besides this, various technological advancements in the manufacturing processes have enabled the production of silicone elastomers with greater efficiency at lower costs, which in turn is propelling market growth.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product:

High Temperature Vulcanize (HTV)
Room Temperature Vulcanize (RTV)
Liquid Silicone Rubber (LSR)

Breakup by Application:

Electrical and Electronics
Automotive and Transportation
Industrial Machinery
Consumer Goods
Construction
Others

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape:

Bentec Medical
China National Bluestar (Group) Co. Ltd.
Dow Inc.
KCC Corporation
MESGO SpA (Hexpol AB)
Momentive Performance Materials Inc.
Reiss Manufacturing Inc.
Shin-Etsu Chemical Co. Ltd.
Specialty Silicone Products Inc. (Heico Corporation)
Stockwell Elastomerics Inc.
Wacker Chemie AG.

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