Silicone Elastomers Industry worth $13.5 billion by 2027 | Key players Dow Inc, Wacker Chemie AG, Shin-Etsu Chemical Co., Ltd, China National Bluestar, Momentive Performance Materials Inc.

According to recent market research the "Silicone Elastomers Market by Type (HTV, RTV, LSR), By Process (Extrusion, Liquid Injection Molding, Injection Molding), End-Use Industry (Building & Construction, Electrical & Electronics, Automotive & Transportation) & Region - Global Forecast to 2027" The silicone elastomers market is projected to reach USD 13.5 billion by 2027, at a CAGR of 7.4 % from USD 9.4 billion in 2022. The growing development in healthcare industry is driving the demand for silicone elastomers. Rising awareness towards health & hygiene and interest towards antimicrobial properties will further drive the demand for silicone elastomers in the industry. The superior properties of silicone elastomers with electrical conductivity make it suitable for electrical & electronics applications.

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LSR is a low-viscosity silicone that can be injection molded or cast into silicone rubber sheets. The liquid term is used in the name to distinguish LSR from HCR products. LSRs are cured by platinum catalysed cure systems in contrary to other rubber-based silicones that are cured by peroxide. LSR is projected to be the fastest-growing type of silicone elastomer during the forecast period. This is due to its unique properties, such as biocompatibility, flexibility, and easy processing, which makes it suitable for various end-use industries such as healthcare, automotive & transportation, and consumer goods.

Compression molding involves placing preform rubber into a heated mold and then into a press to allow the silicone elastomers to melt and fill the mold cavity. This process has low-to-medium production rates. Compression molding is an economical method for short runs and start-up production, with a short setup time. It leads to low wastage, when carried out for correct mold design, and could Mold large and fairly intricate parts.

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Asia Pacific is projected to be the fastest-growing market for silicone elastomers during the forecast period. The rapidly growing end-use industries, competitive manufacturing costs, and high economic growth rate are the favorable factors for the growth of the silicone elastomers market in this region. These factors are also attracting the market players to expand their businesses in Asia Pacific.

New product launches and expansions are the major growth strategies adopted by the key players in the market. Dow Inc (US) and Wacker Chemie AG (Germany) are the key players that have focused on new product launches and developments for deeper market penetration. Momentive Performance Materials Inc. (US), Shin-Etsu Chemical Co., Ltd (Japan), China National Bluestar (Group) Co., (China) have undertaken expansions in the silicone elastomers market.

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Dow Inc. (US) is one of the leading players in global silicone elastomers market. It is the most innovative company in the world and provides sustainable solutions in plastics, industrial intermediates, coatings, and silicone businesses. Dow Inc. offers silicone elastomers under the brand names DOWSIL and SILASTIC. It caters to diverse needs of customers in industries including building and infrastructure; consumer and electronics; industrial and chemical processing; mobility and transportation; home care; and personal care. The company offers all types of silicone elastomers solutions i.e., high temperature vulcanized, room temperature vulcanized and liquid silicone rubber. As part of its growth strategy, Dow Inc. continuously innovating new technology and entering emerging markets which is helping enhance the sales. The company is focusing on investing in high-growth markets and sub-markets.

Wacker Chemie AG (Germany) is a global specialty chemicals manufacturer. It is a dominant player within silicone elastomers market. The company's portfolio includes more than 3,000 products which are supplied in over 100 countries. It operates business through five reportable segments, namely silicones, polymers, BioSolutions, polysilicon, and others. Silicon-based products account for approximately 65% of company's sales. Business segment silicones has the broadest range of products with around 2,800 silicone products in seven groups, namely, silanes, siloxanes, silicone fluids, silicone elastomers, silicone emulsions, silicone resins, and pyrogenic silica. As part of its growth strategy, Wacker Chemie AG is focusing on both organic and inorganic growth strategies.

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