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Silicone In Electrical And Electronic Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033
Silicone In Electrical And Electronic Global Market
According to The Business Research Company's, 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.
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Market Drivers and Trends:
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.
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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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
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.
Silicone In Electrical And Electronic Market 2024 Key Insights:
• The silicone in electrical and electronic market will grow to $2.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Silicone's Surging Demand In Electrical And Electronic Markets Fueled By Smartphone Proliferation
• Silicones In Electrical And Electronics Market Thrive On Technological Advancements
• Asia-Pacific was the largest region in the silicone in electrical and electronic market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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