Silicone Elastomer Demand to Grow 4.4% Annually Through 2022
Growth will be driven by opportunities for specialized elastomers - such as LSR
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CLEVELAND, March 5, 2018 /PRNewswire/ -- Demand for silicone elastomers is projected to expand at an above average 4.4% per year to $1.8 billion in 2022. Growth will be driven by opportunities for specialized elastomers – such as LSR – in markets with more demanding performance requirements, including motor vehicle and other transportation outlets, as well as the medical market. These and other trends are presented in Silicones Market in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
More information about this study is here: https://www.freedoniagroup.com/industry-study/silicones-in-the-us-by-product-market-and-function-9th-edition-3608.htm
These markets will post the fastest gains going forward:
- Motor vehicle market, where silicone elastomers are favored over organic rubbers for under-the-hood applications due to their wide temperature tolerance and excellent oil resistance.
- Medical market, where silicone elastomers will continue to capture share from PVC and latex components due to silicone's low toxicity and biocompatibility.
The construction market is the single largest outlet for silicones and will also post healthy gains. Though according to analyst Ellen Kriz, "Growth will slow from the strong post-recession recovery of the 2012-2017 period". Demand in the construction sector consists of RTV elastomers for adhesives and sealants. Advances for RTVs will stem from their chemical and water resistance, as well as their extreme temperature stability and tear strength.
Related studies include:
#3493 Architectural Paint Market in the US (February 2017)
#3492 Manufacturing (OEM) Coatings Market in the US (January 2017)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Plastics & Other Polymers studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
Press Contact:
Corinne Gangloff
+1 440.684.9600
cgangloff@freedoniagroup.com
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SOURCE The Freedonia Group
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