Press release
Silicone Elastomers Market Report 2024: Strategies And Recent Developments | Mesgo SPA, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., KCC Corporation Ltd
Silicone Elastomers Market Characteristics
The Business Research Company offers in-depth market insights through Silicone Elastomers Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The silicone elastomers market size has grown strongly in recent years. It will grow from $7.91 billion in 2023 to $8.59 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to industrial and automotive applications, sealing and gasket materials, medical and healthcare product demand, growth in construction and infrastructure, consumer and personal care products..
The silicone elastomers market size is expected to see strong growth in the next few years. It will grow to $12.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to automotive lightweighting and ev components, medical and wearable device innovation, sealing solutions for renewable energy, industrial automation and robotics, silicone elastomers in 5g infrastructure, consumer demand for silicone in cosmetics.. Major trends in the forecast period include liquid silicone rubber (lsr) for 3d printing, bio-based and biodegradable silicone elastomers, self-healing and shape-memory elastomers, conductive and stretchable silicone materials, silicone elastomers for soft robotics, customized silicone formulations for specific applications..
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Market Segmentation:
The main types of silicone elastomers are high-temperature vulcanized, room temperature vulcanized, and liquid silicone rubber. High temperature vulcanized is a type of rubber that possesses strong mechanical properties in the elastomer product space and is used in compression molding, extrusion, and injection molding. The various process types include compression molding, liquid injection molding, injection molding, extrusion, and others that are used in automotive and transportation, electrical and electronics, healthcare, consumer goods, industrial machinery, and other end users.
Major Driver - Silicone Elastomers Market Growth Driven By Automotive And Construction Industries
The rapid growth in the automotive and construction industries is expected to propel the growth of the silicone elastomers market going forward. Construction refers to the operations of installing and assembling project equipment and materials. As silicon elastomers are widely used in the automotive and construction industries for engine and gearbox gasketing, power-train sealing, and battery modules, as a result, the growth in those industries increases the demand for silicone elastomers. For instance, according to India Brand Equity Foundation data 2021, the Indian automotive industry (including component manufacturing) has been expected to reach Rs. 16.16-18.18 trillion (USD251.4-282.8 billion) by 2026. In addition, according to international construction data 2021, despite the ongoing uncertainty of the COVID-19 pandemic, global construction output has seen a growth of 5.7% in 2021. Therefore, the rapid growth in the automotive and construction industries will drive the growth of the silicone elastomers market.
Competitive Landscape:
Major companies operating in the silicone elastomers market include Mesgo SPA, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., KCC Corporation Ltd., China National BlueStar (Group) Co. Ltd., Specialty Silicone Products, ContiTech AG., Dow Corning Inc., Wacker Chemie AG, Allergan Inc., Saint-Gobain, Bentec Medical LLC, Zhejiang Xinan Chemical Group Company Limited, Reiss Tech Inc., Cabot Corporation, Shenzhen Inno Silica Co. Ltd., ICM Products Inc., 2D Chemical Ltd., Elkem ASA, Silchem Inc., Novagard Solutions, Quantum Silicones LLC, Accurate Products Co., Nusil Technology LLC, Silteq Limited, Gelest Inc., Hoshine Silicon Industry Co.Ltd., Rogers Corporation, Air Liquide S.A., Applied Silicone Corporation
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Top Trend - Advancement In Biomedical-Grade Silicone Elastomers
The introduction of biomedical-grade silicone elastomers has emerged as the key trend gaining popularity in the silicone elastomer market. Major companies operating in the silicone elastomers sector are focused on the introduction of biomedical-grade silicone elastomers to meet customer demand. For instance, in October 2021, DuPont, a US-based provider of new technologies and performance materials serving various industries, unveiled the launch of DuPont-Liveo pharma bottle closures, is one-piece silicone stoppers, and tubing made from biomedical-grade silicone elastomers. It is mainly designed to seal the threaded glass and plastic bottles and containers used for critical fluid transfer.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Silicone Elastomers Market Characteristics
3. Silicone Elastomers Market Trends And Strategies
4. Silicone Elastomers Market - Macro Economic Scenario
5. Silicone Elastomers Market Size And Growth
…..
27. Silicone Elastomers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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