Press release
Silicone Elastomers Market: Impressive Growth, CAGR of 9.6%, and Key Market Drivers
Silicone Elastomers Market
What Is The Projected Market Size Of The Global Silicone Elastomers Market And Its Growth Rate?
The Silicone Elastomers Market has experienced substantial growth, highlights include:
•The market rose from $8.53 billion in 2024 to $9.23 billion in 2025, indicating a CAGR of 8.3%.
•The growth is significantly attributed to industrial and automotive applications, and demand for medical and healthcare products amongst others.
•The market size is forecasted to reach $13.33 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%, driven by a host of factors including automotive lightweighting and EV components, medical and wearable device innovation, and consumer demand for silicone in cosmetics.
What Is Driving The Growth In The Silicone Elastomers Market?
The Silicone Elastomers Market growthis primarily driven by the rapid growth in the automotive and construction industries. Construction and the operations of installing and assembling project equipment and materials involve use of silicon elastomers. These elastomers are widely used for engine and gearbox gasketing, power-train sealing, and battery modules in these industries, and therefore growth in these industries increases the demand for silicone elastomers. For instance, as per Statistics Canada, there was a 0.3% rise in the total number of registered road motor vehicles in Canada in 2022, equivalent to an additional 78,655 units on the roads.
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Who Are the Key Players Driving Silicone Elastomers Market Growth?
Key players 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.
What Are The Key Trends In The Silicone Elastomers Market?
Key trends in the Silicone Elastomers Market include:
•Use of liquid silicone rubber (LSR) for 3D printing
•Development of bio-based and biodegradable silicone elastomers
•Production of self-healing and shape-memory elastomers
•Use of conductive and stretchable silicone materials
•Utilisation of silicone elastomers for soft robotics
•Development of customized silicone formulations for specific applications
What Are The Segments Of The Global Silicone Elastomers Market?
The Silicone Elastomers market is segmented as follows:
•By Product: High Temperature Vulcanized, Room Temperature Vulcanizing, Liquid Silicone Rubber
•By Process: Compression Molding, Liquid Injection Molding, Injection Molding, Extrusion
•By End User: Automotive and Transportation, Electrical and Electronics, Healthcare, Consumer Goods, Industrial Machinery
Which Region Leads The Silicone Elastomers Market?
North America was the largest region in the silicone elastomers market in 2024. However, Asia-Pacific is projected to be the fastest-growing region. The areas covered in the silicone elastomers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What Is Covered In The Silicone Elastomers Market Global Market Report?
- Market Size Analysis: Analyze the Silicone Elastomers Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Silicone Elastomers Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Silicone Elastomers Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Silicone Elastomers Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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