According to a recent market study published by Growth Market Reports, titled, “Global Silicone Elastomers Market by type, by application, and by Region: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 5,656.8 Million in 2020 and is expected to grow at a growth rate of 6.4 % by the year 2028.

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Silicone elastomers are made by combining reactive, straight-chained molecules with a cross-linking agent and reinforcing to produce a material with high mechanical characteristics (elasticity, absorption, tear strength). Linear polymers, reinforcing agents, a crosslinker, and a catalyst are used to make silicone elastomers. The Types of elastomers formed is determined by the viscosity and Types of the basic straight-chain molecule, as well as the processing temperature.
Silicone elastomers are employed in high-performance Applications, especially when conventional polymeric materials are expected to fail.

When subjected to a broad range of temperatures (from -50°C to 250°C) or intense outdoor exposure, parts manufactured of silicone elastomer rubber offer extended durability and dependability (humidity, UV, Ozone). Their dielectric houses and thermal resistance are ideal to insulate and defend digital systems, which includes protection of excessive voltage lines.

The Global Silicone Elastomers Market has been fragmented based on types, applications and region. In terms of type, the Global Silicone Elastomers Market is categorized as Liquid Silicone Rubber, High Consistency Rubber, Fluorosilicone Rubber, Others. In terms of application, the market is categorized as Automotive, Healthcare, Electronics, Apparel, Medical Devices, Home Repair & Hardware, Construction, Others. Considering regions, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

The Coronavirus disease 2019 (COVID-19) pandemic highlighted economic disparities, global interdependence, and governance challenges. Pandemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. COVID-19 has a moderate impact on the industry due to the simultaneous reduction of supply and demand. The COVID-19 pandemic caused a slight slowdown in market expansion. Once these sectors have recovered from the pandemic's effects, the market for other end-user industries is likely to restore its growth rate.

As per growth market reports industry analyst Sumitra Choudhary, “The expanding Automotive, Healthcare, Electronics, Apparel, Medical Devices industry are expected to contribute to the growth of the Global Silicone Elastomers Market.

The supply chain in developed regions has been accelerated by the addition of large suppliers, manufacturers, and distributors, the availability of raw materials, and the presence of integrated logistics. Silicone elastomers are produced by performing various steps and processes at manufacturing units. Special precautions are taken by producers while manufacturing silicone elastomers as an end product to prevent health issues among workers.

Key Takeaways from the Study

  • The players including the Silicone Elastomers market include CHT Germany GmbH, Elkem ASA, KCC CORPORATION, The Dow Chemical Company ("Dow"), Momentive, Wacker Chemie AG, Innovative Silicone, ARCO Silicone, Nano Tech Chemical Brothers Private Limited, Shenzhen Tensan CO., LTD., STOCKWELL ELASTOMERSICS, INC. Elkem ASA holds a major market share of the Silicone Elastomers market in the year 2020.
  • Increasing utilization in automotive industry, Rising use of silicone elastomers in construction sector, Growing Applications in cosmetic and non-public care, Growing government expenditure is bolstering the medical & healthcare sector are expected to drive the global Silicone Elastomers market.
  • In terms of types, the market is segmented into Liquid Silicone Rubber, High Consistency Rubber, Fluorosilicone Rubber, Others. Silicone Elastomers In 2020, The liquid silicone rubber segment is expected to constitute a 45.1%market share, owing to its increased usage in high-power LED lighting, electronics, and automotive lighting.
  • Based on applications the market has split the Global Silicone Elastomers Market is fragmented into Automotive, Healthcare, Electronics, Apparel, Medical Devices, Home Repair & Hardware, Construction and Others. The home repair & hardware segment is expected to drive the market, as silicone adhesives and sealants are used to seal and protect doors, windows, wings, fuel tanks, and hydraulic switches, as silicone can endure stress and temperature fluctuations.
  • In terms of regions, the Global Silicone Elastomers markets are divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America is expected to contribute 5.7% CAGR to the silicone elastomers market and is gaining popularity as a high-performing material for use in piping and molds. Europe is expected to drive the market, owing to factors such as increasing urbanization and industrialization, expanding vehicle industry, and rising demand for cosmetics.

Report Scope

Report Metric

Details

Market Value in 2020

US$ 5,656.8Million

Market Growth Rate (from 2020 to 2028)

6.4 %

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

By Type, By Application and By Region

Key Companies Profiled

CHT Germany GmbH, Elkem ASA, KCC CORPORATION, The Dow Chemical Company ("Dow"), Momentive, Wacker Chemie AG, Innovative Silicone, ARCO Silicone, Nano Tech Chemical Brothers Private Limited, Shenzhen Tensan CO., LTD., STOCKWELL ELASTOMERSICS, INC

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Manufacturer and distributors
  • Demand Side: Automotive, Healthcare, Electronics, Apparel, Medical Devices, Home Repair & Hardware, Construction.
  • Regulatory Side: Concerned government authorities, and other approval regulatory bodies.
  • Associations and Industry Bodies: European Chemicals Agency (ECA) Registration, Evaluation, Authorization and Restriction of Chemicals (REACH).