Silicone In Electrical And Electronic Market: Key Drivers, Trends, Growth, Outlook 2024-2033

The silicone in electrical and electronic market size has grown strongly in recent years. It will grow from $2.08 billion in 2023 to $2.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to heat resistance and thermal stability, insulating properties, water and weather resistance, flexibility and low-temperature performance, dielectric strength, adhesion to various substrates.

The silicone in electrical and electronic market size is expected to see strong growth in the next few years. It will grow to $2.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to electric vehicle revolution, advanced wearable electronics, smart home applications, sustainable and eco-friendly trends, emerging flexible electronics. Major trends in the forecast period include advancements in thermal management, flexible and foldable electronics, integration of silicone in smart devices, innovation in sealants and encapsulants, artificial intelligence (ai) integration.

Market Overview -
Silicone in electrical and electronic refers to the class of synthetic materials made from metallurgical silicon that provide high thermal stability and resistance to weathering, ozone, moisture, and UV radiation. Silicone is a heat-resistant and rubber-like material that is used in applications for thermal and electric insulation.

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Silicone's Surging Demand In Electrical And Electronic Markets Fueled By Smartphone Proliferation
An increase in the use of smartphone devices is expected to propel the growth of silicone in the electrical and electronic markets going forward. A smartphone refers to a portable electronic gadget that connects to a cellular network. Silicone electrical sealants are used in smartphone fingerprint sensor assemblies to help attain an IP waterproof rating and protect various components against heat, shock, and contaminants. They offer interior micro-USB type C components primer-less adhesion to help build a barrier that prevents moisture intrusion. So, these factors boost silicone in the electrical and electronic markets. For instance, according to Uswitch Limited, a UK-based online and telephone comparison and switching service, 71.8 million mobile connections will be active in 2022. By 2025, there will be 68.3 million individuals in the UK, with 95% of them carrying smartphones. Therefore, the increase in the use of smartphones is driving the growth of silicone in the electrical and electronic market.

Competitive Landscape -
Major companies operating in the silicone in electrical and electronic market report are Silchem Inc., ICM Products Inc., Specialty Silicone Products Inc. (SSP), Wacker Chemie AG, Evonik Industries AG, Dow Inc., Kemira Oyj, Quantum Silicon Inc., Kaneka Corporation, Hutchinson SA, Shin-Etsu Chemical Co. Ltd., H.B. Fuller Company, ACC Silicones Ltd., Elkem Silicones, LORD Corporation, Rogers Corporation, Momentive Performance Materials Inc., Henkel AG & Co. KGaA, Reiss Manufacturing Inc., Saint-Gobain Performance Plastics, 3M Company, Nusil Technology LLC, Silafrica, Siltech Corporation, Krayden Inc., Master Bond Inc., Permabond LLC, Pyradian Corporation, Silicones Plus Inc., Trelleborg Group, Zeus Industrial Products Inc.

Silicones In Electrical And Electronics Market Thrive On Technological Advancements
Technological advancement is the key trend gaining popularity in silicone in the electrical and electronics markets. Major companies operating in the electrical and electronics markets are adopting new technologies to sustain their position in the market. For instance, in June 2021, Dow Inc., a US-based manufacturer of chemicals, launched three new silicone technologies for EV electronics applications called DOWSIL TC-2035 CV Adhesive, DOWSIL TC-4551 CV Gap Filler, and DOWSIL TC-4060 GB250 Thermal Gel, which are designed for reliable performance, high thermal conductivity, efficient heat dissipation, and easy processing. For the assembly of automotive electronics, such as advanced driver assistance systems (ADAS) units and electronic control units (ECUs), DOWSILTM TC-2035 CV Adhesive offers excellent thermal conductivity, a quick cure, and exceptional room-temperature shelf-life stability. High thermal conductivity and dependable performance are also provided by DOWSILTM TC-4551 CV Gap Filler in vehicle power electronics, ECUs, and ADAS.

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Key Segments -

The silicone in electrical and electronic market covered in this report is segmented -
1) By Product Type: Sealants And Adhesives, Ceramics, Silicone Coatings, Conformal Coatings, Encapsulants, Potting Silicones, Hardcoats, Optical Bonding Adhesives, Quartz And Thermal Management
2) By Form: Fluids, Gels, Elastomers, Resins
3) By End-User: Automotive Industry, Electronics Industry, Telecommunications, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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