The Global silicone elastomers market is valued at USD 9.4 billion in 2022 and is projected to reach a value of USD 16.64 billion in 2030 expanding at a CAGR of 7.4% over the forecast period of 2022-2030.
Silicone Elastomers– Overview
Silicone elastomers are compounded using reactive, straight chained molecules together with a cross-linking agent and support to give good mechanical properties (elasticity, absorption, tear strength).
Otherwise called silicone rubbers, silicone elastomers are made by joining direct polymers, supporting specialists, cross-linkers, and impetuses. They assist in providing heat and dampness resistance, fire retardancy, and weatherability. They additionally offer dielectric properties to protect and safeguard electronic hardware like high voltage lines. As of now, silicone elastomers are generally accessible in an assortment of structures, including electrically and thermally conductive, open-cell foams and closed cell sponges.
Key market trends- Growth determinants and restraints
The Global silicone elastomers Market is developing at a quicker pace with significant development rates throughout the most recent couple of years and is assessed that the market will fill essentially in the gauge period for example 2022 to 2030.
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The development in the worldwide market can be credited to a few basic factors, for example, solid interest from the end-use businesses. Silicone elastomers have better qualities when thought about than different elastomers. Such qualities make them basic for modern utilization, thusly supporting the worldwide silicone elastomers industry. End-use ventures for the item, like construction, car, and electrical and hardware, are supposed to observe quick development during the figure time frame.
The development of the silicone elastomers market has deteriorated in the created nations, like the US, Germany, the UK, Japan, and other Western European nations, as the significant end-use businesses of these elastomers, for example, car and transportation, electrical and hardware apparatuses, and buyer merchandise have arrived at development. The consistent financial development has likewise impacted the development of the market in these nations.
Segmentation Analysis of this market
Based on product type
- High temperature vulcanised
- Liquid silicone rubber
- Room temperature vulcanised
Based on end-user
- Automotive
- Healthcare
- Electronics
- Apparel
- Medical devices
- Home repair and hardware
- Construction
- Others
Asia-Pacific is expected to hold the largest market share
North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions constituting the geographical landscape of Global silicone elastomers market. Asia-Pacific dominates the market with the largest market share among others.
Competitive Landscape
The Key players in the Global silicone elastomers market are Dow Inc. (US), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (US), Shin-Etsu Chemical Co., Ltd (Japan), China National Bluestar (Group) Co., (China), Reiss Manufacturing Inc. (US), CHT Germany GmbH (Germany), among others.
Major Development
The Global silicone elastomers market is expected to increase at a significant rate during the figure time period, somewhere in the range of 2022 to 2030. In 2020, the market was developing at a consistent rate and with the increasing reception of systems by key players, the market is supposed to ascend over the projected skyline.
Major questions answered in this report
- What is the growth rate of this Market?
- What are the primary growth determinants of the Global silicone elastomers market?
- Which are the major regions constituting the geographical landscape of Global silicone elastomers Market?
- Which are the prominent companies operating in Global silicone elastomers Market?
Key Takeaways from The Report-
- The Global silicone elastomers market is poised to register a growing CAGR of over 7.4% from 2022 to 2030.
- Asia-Pacific to lead the market with the highest market share.
- The development in the worldwide market can be credited to a few basic factors, for example, solid interest from the end-use businesses. Silicone elastomers have better qualities when thought about than different elastomers.
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