The silicone in heavy machinery global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Silicone in Heavy Machinery Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The silicone in heavy machinery market size has grown strongly in recent years. It will grow from $1.42 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to industrial and heavy machinery manufacturing, high-temperature and high-pressure environments, lubrication and sealing solutions, growth in mining and construction equipment, aerospace and defense applications..
The silicone in heavy machinery market size is expected to see strong growth in the next few years. It will grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to integration of silicone in hydraulic systems, noise and vibration damping in heavy machinery, silicone gaskets and seals for improved efficiency, demand for silicone adhesives and coatings, silicone insulation for electrical components, silicone-based maintenance and repair solutions.. Major trends in the forecast period include silicone-based 3d printing for heavy machinery parts, iot and sensors for predictive maintenance, self-lubricating silicone materials, silicone for noise control in heavy equipment, silicone encapsulation for ruggedized electronics, silicone solutions for extreme cold and heat..
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Scope Of Silicone in Heavy Machinery Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Silicone in Heavy Machinery Market Overview
Market Drivers –
Growing demand for silicone rubber in the wind energy sector across the globe is expected to propel the growth of the silicone market going forward. Silicone rubber refers to an elastomer made of silicone, which contains silicon as well as carbon, hydrogen, and oxygen. In wind turbine blades and tower sections, silicone rubber is frequently utilized for its long-lasting, adhesive, and sealing qualities for lubrication, thermal interference, and sealing. For instance, in November 2021, according to the Global Wind Report published by the Global Wind Energy Council, a Belgium-based international trade association for the wind power industry, 93 GW of new capacity wind power was installed worldwide, with a 53% year-on-year increase, making 743 GW of wind power capacity globally. Therefore, the growing demand for silicone rubber in the wind energy sector is driving the silicone market.
Market Trends –
Product innovation is a key trend gaining significant popularity in silicone in the heavy machinery market. Major market players are concentrating their efforts on innovating new products in various industries that aid in thermal stability, durability, flexibility, and electrical conductivity. It provides properties such as flame retardant, steam resistant, UV and radiation resistance, and metal adhesion. For instance, in December 2022, Dow Inc., a US-based chemical company, launched its SILASTIC™ SA 994X Liquid Silicone Rubber (LSR) series. It represents a collection of primerless, self-adhesive, multipurpose, self-lubricating Liquid Silicone Rubbers (LSRs) characterized by a one-to-one mix ratio. These LSRs are specifically engineered for two-component injection molding, particularly in conjunction with thermoplastic substrates such as polybutylene terephthalate and polyamide.
The silicone in heavy machinery market covered in this report is segmented –
1) By Type: Elastomer, Liquid Silicone Rubber, Other Types
2) By Application: Transformer, Switchgears
3) By Sales Channel: Channel-Direct/Institutional Sales, Indirect Sales
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Regional Insights –
Asia-Pacific was the largest region in the silicone in heavy machinery market in 2023. North America was the second-largest region in the silicone in heavy machinery market share. The regions covered in the silicone in heavy machinery market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the silicone in heavy machinery market include Dow Inc., Elkem Silicones, KCC Corporation, Momentive Inc, Shin-Etsu Silicone, Wacker Chemie AG, Iota Silicone Oil (Anhui) Co.Ltd, Stockwell Elastomerics Inc, Zhejiang XinAn Chemical Industrial Group Co Ltd, Evonik Industries AG, Gelest Inc., Innospec Inc., Avantor, Alstone Industries, ARCO Silicone, 3M, Saint-Gobain, Henkel, H.B. Fuller, Avery Dennison, Bostik, Sika, Huntsman Corporation, EssentialCo, Lanxess AG, Arkema SA, Toray Industries, Mitsubishi Chemical Corporation, Sumitomo Chemical Co Ltd
Table of Contents
1. Executive Summary
2. Silicone in Heavy Machinery Market Report Structure
3. Silicone in Heavy Machinery Market Trends And Strategies
4. Silicone in Heavy Machinery Market – Macro Economic Scenario
5. Silicone in Heavy Machinery Market Size And Growth
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27. Silicone in Heavy Machinery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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