Silicon Elastomers Market by Type [Heat Cured Rubber (HCR), Liquid Silicone Rubber (LSR), and Room Temperature Vulcanization (RTV)], Application (Automotive, Electronics, Healthcare, Building and Construction, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 8 billion mark in 2022 and is expected to hit US$ 15 billion by 2030, recording a CAGR of 8% during the forecast period.
Silicon elastomers market has been significantly growing with the increasing demand from the automotive industry
The major factor driving the silicon elastomers market growth is an increasing their demand from the automotive industry. Silicone elastomers are used in automobiles to manufacture spark plug boots and connector seals, and more recently for such components as intake manifold gaskets (fluorosilicone), turbo charger hoses and silicone wiper blades. Silicone elastomers offer exceptional durability and stable performance over a wide temperature range. Due to the unique characteristics, silicone rubber is widely used in the automotive industry. Advantageous properties of silicone materials have also led to their increasing use in numerous applications in modern vehicles. The global automotive sector has witnessed tremendous growth in the last decade. In China, the automotive industry has been growing rapidly, and the country is playing an increasingly important role in the global automotive market. The growing automotive industry in various countries across the globe is creating a massive demand for silicon elastomers. The liquid silicone rubber segment is expected to held the significant share of the market during the forecast period. Liquid silicone rubber is highly used in healthcare, automotive, consumer goods, electrical and electronics, etc. applications. Further, other segment such as heat cured rubber is also expected to gain traction during the forecasted year.
Within the report, the market is segmented into type, application, and geography. By type, the market is further segmented into heat cured rubber (HCR), liquid silicone rubber (LSR), and room temperature vulcanization (RTV). On the basis of application, the market is segmented into automotive, electronics, healthcare, building and construction, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Antimicrobial silicone elastomers for use in healthcare industry
Medical grade silicones offer a low risk of unfavourable biological reactions because of the inherently low toxicity. Hence, they have gained recognition and acceptance for medical applications. But bacteria and other microorganisms can affect properties of silicone rubber. Hence, biocides are used to prevent growth of micro-organism and the build-up of harmful bacteria that increase the risk of contamination or transmission of infections. Growing use of antimicrobial silicone elastomers in the healthcare industry will offer more lucrative opportunities for the market growth during the forecast period.
Growing Use in Electronics Industry Favours the Silicon Elastomers Market Growth
Silicone rubber find application in consumer and industrial lamps and luminaries, signage, street and architectural lighting, entertainment lighting, lights for car interiors, etc. Silicone elastomers are a good fit for electrical insulation applications owing to their high dielectric strength. They provide resistance to high temperature, UV, and ozone, they are hydrophobic, so they do not promote surface insulation failures. The use of silicone elastomers in the electronics field for a wide variety of applications has increased as the industry can count on the extreme diversity of silicone polymer chemistry and architectures for meeting technical challenges. The growing electronics industry in countries such as China, India, Japan, and others further fuels the silicon elastomers market growth.
Recent strategic developments in silicon elastomers market
The silicon elastomers market has undergone several significant developments, and a few of these have been mentioned below:
- In October 2019, Dow launched new liquid silicone rubber 3D printing materials for use in liquid additive manufacturing 3D printing. The company is enabling greater design freedom and process efficiency with its latest introduction to the North American elastomer market.
- In 2020, Dow Personal Care developed a new silicone elastomer to align itself with the trend in Asia Pacific for simplified natural products without sensorial compromises. Dowsil EL-TIPS is formulated in a renewable carrier derived from sustainable sugar care sources.
- In June 2019, Wacker inaugurated a new production line for silicone elastomers at its Zhangjiagang site in China. This new facility will help the company’s future growth path in China and improve the availability of high-consistency silicone rubber in the Asia-Pacific region.
The silicon elastomers market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Dow; Wacker Chemie AG; REISS MANUFACTURING, INC.; Elkem Silicones; and Momentive are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Silicon elastomers related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Application industries of silicon elastomers
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type
- Heat Cured Rubber (HCR)
- Liquid Silicone Rubber (LSR)
- Room Temperature Vulcanization (RTV)
- Application
- Automotive
- Electronics
- Healthcare
- Building and Construction
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Dow
- Wacker Chemie AG
- REISS MANUFACTURING, INC.
- Elkem Silicones
- Momentive
Companies profiled
- Dow
- Wacker Chemie AG
- REISS MANUFACTURING, INC.
- Elkem Silicones
- Momentive