Enhanced demand for the excellent properties of Silicone Elastomers in various industries globally is the major factors influencing market growth.
Market Size – USD 6.46 billion in 2018, Market Growth - CAGR of 5.7%, Market Trends –Rise in demand for Silicone Elastomers in Electrical & Electronics Industry
NEW YORK, March 19, 2019 (GLOBE NEWSWIRE) -- The global Silicone Elastomers Market is expected to reach USD 10.22 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with increased demand from healthcare industry globally. Based on statistics, Increasing Demand for Automotive Vehicles is expected to become the most common growth interest globally in the coming years. Increased demand from healthcare industry is also significant factors stimulating market demand.
APAC is the largest user of silicone elastomers across the globe. The region is predicted to register the highest share of 40% in 2026. The majority of the market in the APAC is due to the spontaneous availability of low labor and raw materials in the region. Also, the developing prosperity of countries such as Indonesia, Taiwan, China, and India is inviting new international ventures in these countries thereby leading to the growth of various industries in this region.
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Further key findings from the report suggest
- The High Temperature Vulcanized segment is occupies the largest share of 40% of the silicone elastomers market in 2018. High-Temperature Vulcanized silicone rubbers have vast application areas due to their excellent properties such as electrical conductivity, high strength of siloxane bond radiation resistance, etc.
- APAC is estimated to register the highest CAGR of 6.3%, during the forecasted period.
- North America is expected to reach USD 2.56 billion by 2026.
- The wide variety of utilization in various sectors makes the market for silicone elastomers most productive. The growth in the automotive industry is one of the most significant factors for the market.
- The need for secure and hygienic surgical and other instruments in the healthcare sector will boost up the demand for the market by 6.5% CAGR.
- The standard applications in consumer goods will grow at a CAGR of 4.2% during the forecast period and will further drive the need for the market since the electronic sector prospers it will increase the demand of the market which is used because of their high thermal conductivity. The increase in the aviation sector will boost the need for silicone elastomers.
- The application of silicon elastomers in electrical and electronics sectors is estimated to be the second highest share holder of 20% of the market in 2018.
- The healthcare sector in North America is forecasted for the highest CAGR of 7.0% during the forecasted period.
- The Extrusion technology is forecasted to register a CAGR of 6.5%. This technology is mainly used for its property of resistance of higher environmental conditions and advantage of them lasting longer.
- The High Temperature Vulcanized segment is occupies the market share of 40% in 2018. They have vast application areas due to their excellent properties such as electrical conductivity, high strength of siloxane bond radiation resistance
- The majority of the market in the APAC is due to the spontaneous availability of low labor and raw materials in the region and is forecasted to reach USD 4.29 billion at a CAGR of 6.3%. Also, the developing prosperity of countries such as Indonesia, Taiwan, China, and India is inviting new international ventures in these countries thereby leading to the growth of various industries in this region.
- Key participants include Dow Corning, Momentive Performance Materials, Wacker Chemie, Chemical Industrial Group Co., Ltd., Shin-Etsu, China National Bluestar Silicones, KCC Corporation, Reiss Manufacturing, Mesgo SpA, Zhejiang Xinan Specialty Silicone Products.
Read more at: https://www.reportsanddata.com/report-detail/silicone-elastomers-market
For the purpose of this report, Reports and Data have segmented global Silicone Elastomers Market on the basis of Product, Technology, Application, Type and region:
- Product Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- High Temperature Vulcanized
- Liquid Silicone Rubber
- Room Temperature Vulcanized
- Technology Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Extrusion
- Liquid Injection Molding
- Injection Molding
- Compression Molding
- Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Automotive & Transportation
- Electrical & Electronics
- Healthcare
- Consumer Goods
- Industrial Machinery
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- Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Fluoro Liquid Silicone Rubber (F-LSR)
- Fluorosilicone Rubber (FSR)
- High Consistency Rubber (HCR)
- Liquid Silicone Rubber (LSR)
- Thermoset Additives for Plastics
- Regional Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- South-east Asia
- Latin America
- Brazil
- MEA
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