Dublin, Oct. 01, 2018 (GLOBE NEWSWIRE) -- The "Silicone Elastomers Market by Type (HTV, LSR, RTV), Process (Extrusion, Liquid Injection, Injection, Compression), End-use Industry (Transportation, Electronics, Healthcare, Consumer Goods, Industrial Machinery), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The silicone elastomers market is projected to grow from USD 6.38 billion in 2018 to USD 8.81 billion by 2023, at a CAGR of 6.7% between 2018 and 2023.
The superior properties of silicone elastomers, aging population fueling the demand from the healthcare industry, and high demand for silicone elastomers from the electrical & electronics industry are driving the silicone elastomers market across the globe. However, stagnant growth in the developed countries is expected to act as a restraint for the silicone elastomers market during the forecast period.
The growth of the global healthcare industry plays a significant role in driving the silicone elastomers market. In this industry, silicone elastomers are used to make tubing for feeding, electrosurgical handpieces, test chambers & infusion sleeves, introducer tips & flexible sheaths, shunts & septum, ear plugs & hearing devices, and for the manufacturing of different types of seals, valves, stoppers, and clips. The global aging population is a major driver for the silicone elastomers market in the healthcare industry. Pacemaker and other devices are made by silicone elastomers.
The aging population is prone to organ failure, cardiovascular diseases, and hearing ailments, which indirectly increases the demand for healthcare and medical equipment, where silicone elastomers are used in the manufacturing process. Most of these products are manufactured using medical-grade silicone elastomers. Thus, the medical application of silicone elastomers is directly influenced by the increasing demand for silicone elastomer-based products in the healthcare industry.
APAC is the largest silicone elastomers market. The growth in this region is mainly attributed to the high economic growth rate and heavy investments in the automotive & transportation, electrical & electronics, and healthcare industries. In the recent years, APAC has emerged as a major market for silicone elastomers because of the growing demand from China and India. The manufacturers of silicone elastomers are targeting this region, owing to the advantages of setting up production facilities, low cost of production, and the ability to better serve the local emerging markets. In addition, high domestic demand along with the easy availability of raw materials and low-cost labor also make APAC the most preferred region for producers of silicone elastomers.
Dow Corning (US), Wacker Chemie (Germany), Momentive Performance Materials (US), Shin-Etsu (Japan), China National Bluestar Silicones (China), KCC Corporation (South Korea), Reiss Manufacturing (US), Mesgo SpA (Italy), Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China), and Specialty Silicone Products (US) are the key players operating in the silicone elastomers market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in the Silicone Elastomers Market
4.2 Silicone Elastomers Market Size, By Type
4.3 Silicone Elastomers Market Size, By Process
4.4 Silicone Elastomers Market, By End-Use Industry and Key Countries
4.5 Silicone Elastomers Market Size, Developed vs. Developing Countries
4.6 APAC: Silicone Elastomers Market
4.7 Silicone Elastomers Market Attractiveness
5 Market Overview
5.1 Introduction
5.1.1 Advantages of Silicone Elastomers
5.1.2 Disadvantages of Silicone Elastomers
5.1.3 Silicone Elastomers Comparative Analysis
5.2 Market Evolution
5.2.1 Adoption of Silicone Elastomers
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Superior Properties of Silicone Elastomers
5.3.1.2 Aging Population Fueling the Demand From Healthcare Industry
5.3.1.3 High Demand for Silicone Elastomers in Electrical & Electronics Industry
5.3.2 Restraints
5.3.2.1 Stagnant Growth in Developed Countries
5.3.3 Opportunities
5.3.3.1 Antimicrobial Silicone Elastomers for Healthcare Industry
5.3.3.2 Conductive Elastomers for Electrical Applications
5.3.3.3 Highly Transparent Silicone Elastomers for Optical Applications
5.3.3.4 Increasing Demand for Automotive Vehicles
5.3.4 Challenges
5.3.4.1 Fluctuating Raw Material Prices
5.4 Current Trend
5.4.1.1 Shift From HTV to LSR
5.5 Porter's Five Forces Analysis
5.5.1 Threat of Substitutes
5.5.2 Bargaining Power of Buyers
5.5.3 Threat of New Entrants
5.5.4 Bargaining Power of Suppliers
5.5.5 Intensity of Competitive Rivalry
6 Silicone Elastomers Market, By Type
6.1 Introduction
6.2 High Temperature Vulcanized/High Consistency Rubber
6.3 Liquid Silicone Rubber
6.4 Room Temperature Vulcanized
7 Silicone Elastomers Market, By Process
7.1 Introduction
7.2 Extrusion
7.3 Liquid Injection Molding
7.4 Injection Molding
7.5 Compression Molding
7.6 Others
8 Silicone Elastomers Market, By End-Use Industry
8.1 Introduction
8.2 Automotive & Transportation
8.3 Electrical & Electronics
8.4 Healthcare
8.5 Consumer Goods
8.6 Industrial Machinery
8.7 Others
9 Silicone Elastomers Market, By Region
10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking of Key Players
10.3 Competitive Situation & Trends
10.3.1 New Product Launches
10.3.2 Expansions
10.3.3 Partnerships, Agreements & Joint Ventures
10.3.4 Mergers & Acquisitions
11 Company Profiles
11.1 Dow Corning Corporation
11.2 Wacker Chemie AG
11.3 Momentive Performance Materials Inc.
11.4 Shin-Etsu Chemical Co., Ltd.
11.5 KCC Corporation
11.6 China National Bluestar (Group) Co., Ltd.
11.7 Reiss Manufacturing Inc.
11.8 Mesgo S.P.A.
11.9 Zhejiang Xinan Chemical Industrial Group Co., Ltd.
11.10 Specialty Silicone Products Inc.
For more information about this report visit https://www.researchandmarkets.com/research/sr6qpl/silicone?w=12
Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager.
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 Related Topics: Rubber