Rapid industrialization in developing countries and the high demand from the chemical and petrochemical industry are expected to drive the demand for the global high consistency silicone rubber market in the forecast period, 2023-2027. According to TechSci Research report, “High Consistency Silicone Rubber Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global silicone rubber market is anticipated to grow at a steady rate in the forecast period, 2023-2027.
The Important Elements of Global High Consistency Silicone Rubber Market
Rapid advancements in the fabrication process industry and the high demand from the electrical and electronics industry are the primary factors driving the demand for the global high consistency silicone rubber market.
However, the availability of alternate solutions may hinder the global silicone rubber market growth over the forecast period.
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The global high consistency silicone rubber market is segmented into process, end-use, regional distribution, and competitive landscape.
Based on the process, the global silicone rubber market is divided into injection, extrusion, compression, and others. The extrusion segment is expected to hold the largest market share in the forecast period, 2023-2027. High consistency silicone rubber parts produced through the extrusion process can have a wall-like thickness that ranges from less than 0.01 inches up to three inches. They also offer a wide range of elastomeric performance, having a durometer in the range of 30 to 80 types.
Based on end-use, the global silicone rubber market is divided into electronics, food, pharmaceuticals, medical, chemical & petrochemical, and others. The electronics industry dominates the market and is expected to maintain its dominance over the next five years.
Due to its high thermal and chemical resistance, high consistency silicone rubber is used in the manufacturing of several components. The rise in the expenditure capacity of consumers is boosting the sales of computers, smartphones, and laptops worldwide. Electronics market players are introducing novel products to increase their market share in the global market. With the growing electronics industry, the demand for global high consistency silicone rubber is expected to grow in the coming years.
Major market players operating in the global silicone rubber market are:
- Dow Corning
- Shin-Etsu
- Wacker Chemie AG
- SIMTEC Silicone Parts
- Dongguan Jingliwei Silicone Tech Ltd
- Fowcomm
- Elkem Silicones
- KCC Corporation
- Shenzhen Inno Silica Co., Ltd
- CHT Group
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“The Asia-pacific region dominates the market and is expected to maintain its dominance over the forecast period, 2023-2027. Rapid urbanization, a growing population, and strong economic growth are boosting the growth of the prominent industry verticals in the region. Manufacturers are setting up their manufacturing plants in the region and are making use of high consistency silicone rubber for fabrication purposes.
The medical and pharmaceutical industry is one of the fastest-growing end-use industries in the region. The rise in the use of high consistency silicone rubber in the different medical and pharmaceutical industries due to its higher versatility and massive demand from developing countries are expected to propel the global silicone rubber market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
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“High Consistency Silicone Rubber Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Process (Injection, Extrusion, Compression, Others), By End-Use (Electronics, Food, Pharmaceuticals, Medical, Chemical & Petrochemical Others), and By Region”, has evaluated the future growth potential of global high consistency silicone rubber market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global silicone rubber market.
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