Silicone Elastomers Market Size By Product (High Temperature Vulcanized, Room Temperature Vulcanized, Liquid Silicone Rubber), By Application (Electrical & Electronics, Automotive & Transportation, Industrial Machinery, Consumer Goods, Construction, Others), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023

Published Date: Mar 2016  |  Report ID: GMI361  |  Authors: Kunal Ahuja, Sonal Singh

Report Format: PDF   |   Pages: 180   |   Base Year: 2015




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Silicone Elastomers Market size was over USD 7 billion for 2015 and is anticipated to expand at a CAGR of 7.6% during the forecast period. Flourishing automotive industry in developing economies like India, South Korea and well-established automobile industry in countries like Germany, China, France are anticipated to bolster the global market.
 

Silicone Elastomers Market Statistics

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Silicone elastomers products possess the properties of fuel and oil resistance, efficient performance at different temperatures, low smoke density. Owing to all these properties of silicone elastomers they are used in vibration dampers and cure-in-place gaskets.
 

These products are used as adhesives in electronics & electrical products due to their property of an extended lifetime. Electronics & electrical industry is witnessing an upsurge in current era due to rapid technological advancement and growing consumer awareness regarding these products. In construction sector silicone elastomers are used for structural glazing and sealants as they are resistant to high temperature and have long-term sustainability. Hence, silicone elastomers market demand is expected to bolster in next couple of years from construction and electrical industry.
 

These are convenient to use in ornaments, furniture, restoration, prototyping, and mold making. Increase in global population, rise in disposable income, and surge in purchase power parity of people have propelled the market of consumer goods, and other such kind of capital goods. Thus, all these factors offer a promising growth for silicone elastomers market share in near future.
 

Silicone Elastomers Market Report Coverage
Report Coverage Details
Base Year: 2015 Market Size in 2015: 7 Billion (USD)
Historical Data for: 2012 to 2015 Forecast Period: 2016 to 2023
Forecast Period 2016 to 2023 CAGR: 7.6% 2023 Value Projection: 12 Billion (USD)
Pages: 180 Tables, Charts & Figures: 234
Geographies covered (10): U.S., Germany, UK, France, Italy, China, India, Japan, South Korea, Brazil
Segments covered: Product, Application and Region
Companies covered (11): China National BlueStar (Group) Co. Ltd., Dow Corning Corporation, KCC Corporation, Mesgo S.P.A., Momentive Performance Materials Inc., Shin-Etsu Chemical Co. Ltd., Reiss Manufacturing Inc., Wacker Chemie AG, Zhejiang Xinan Chemical Industrial Group Co. Ltd., Stockwell Elastomerics, Specialty Silicone Products, Inc.,
Growth Drivers:
  • Superior features
  • Growing application in healthcare
  • High demand from the electrical & electronics industry
Pitfalls & Challenges:
  • High production cost

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Market, By Product

HTV (High Temperature Vulcanize) accounts for the maximum silicon elastomer market share of nearly 60%. This product type is anticipated to remain dominant in the forecast period owing to its application in automotive industry, industrial machinery and at high temperature prone areas.
 

Liquid Silicone Rubber (LSR) is anticipated to expand at a CAGR of 7.2% in terms of value in the forecast period. LSR is expected to increase its silicone elastomers market share amongst the product type in ensuing years owing to its applications in various end-user industries like consumer goods, automotive, packaging, furniture and toys. Room Temperature Vulcanize (RTV) is the segment that reports the lowest contribution in the market and registered a revenue of $780 Million in 2015. This product is generally used for low temperature applications like making molds, lens and over-molding.
 

Market, By Application

Silicone Elastomers Market by Application

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Based on application, the market includes construction, consumer goods, industrial machineries, automotive, electrical & electronics etc. Electrical & electronics sector is anticipated to expand at the highest CAGR of nearly 5.6% in the forecast period. Increasing consumer awareness and advanced versions of electronics devices is expected to boost its demand in near future. The booming construction industry also accounts for a major application sector of silicone elastomers market as they are used in sealants and structural glazing applications. Construction industry is anticipated to have a market share of more than 40%.
 

Another upcoming application of the product is in vibration dampers and gaskets in vehicles. Automotive and transportation is anticipated to have a tremendous growth potential in several years owing to rapid industrialization and rise in disposable income of people.
 

Market, By Region

Asia Pacific is the leading region in terms of consumption due to the presence of flourishing industries like automotive, electrical & electronics, industrial machinery, and consumer goods. Asia Pacific is gaining attention of many foreign investors to establish facilities in this region owing to its business-friendly government policies. Asia Pacific accounts for more than 50% of the global silicone elastomers market share and is expected to remain dominant in the forecast period.
 

Europe is expanding at a rapid pace in the market due to its footprint in automobile market. Moreover, Europe has witnessed a healthy growth in the industrial machinery sector and thus has a market share of more than 20%.
 

Competitive Market Share

Global silicone elastomers market is a bit oligopolistic in nature, with companies involved in R&D to expand their product portfolio. There is a possibility of backward integration in this market as many silicone manufacturers can also manufacture its elastomers.
 

The major manufacturers in the silicone elastomers industry are Shin-Etsu Chemical Co.; Ltd, Reiss Manufacturing, Momentive Performance Materials Inc., KCC Corporation, Dow Corning Corporation, Wacker Chemie AG. There are even some companies which have the facility of manufacturing silicone raw materials required for manufacturing of elastomers; such companies are fully integrated in the value chain of silicone elastomers.
 

Industry Background

Silicone elastomers are extensively used in varied and wide applications such as in sealants, gaskets, O-rings, vibration dampers, ornaments, furniture, restoration, prototyping, as an adhesive, etc. These products are utilized in end user industries of electronics & electrical, automotive & transportation, consumer goods, construction, and industrial machinery.
 

The silicone elastomers market has witnessed a decent growth in past few years owing to rapid urbanisation and industrialisation and is anticipated to register a healthy growth in next few decades even. Technological advancements and consumer awareness about the electronic devices and gadgets are luring the customers to purchase these products.
 

Silicone Elastomers market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons & revenue in USD million from 2013 to 2023, for the following segments:
 

By Product

  • HTV (High Temperature Vulcanized)
  • RTV (Room Temperature Vulcanized)
  • LSR (Liquid Silicone Rubber)

By Application

  • Electrical & Electronics
  • Automotive & Transportation
  • Industrial Machinery
  • Consumer Goods
  • Construction
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
  • EU
    • UK
    • Germany
    • France
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America (LATAM)
    • Brazil
       

Frequently Asked Questions (FAQ) :

According to the report published by Global Market Insights Inc., the silicone elastomers business is supposed to attain $12 billion by 2023.
Superior features, growing application in healthcare, and high demand from the electrical & electronics industry are major factors expected to drive the growth of global market.
China National BlueStar (Group) Co. Ltd., Dow Corning Corporation, KCC Corporation, Mesgo S.P.A., Momentive Performance Materials Inc., Shin-Etsu Chemical Co. Ltd., Reiss Manufacturing Inc., Wacker Chemie AG are some of the top contributors in the industry.
The electrical & electronics segment registered the highest market share in 2015 and is projected to record a remarkable growth rate throughout the forecast period.

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Premium Report Details

  • Published Date: Mar 2016
  • Pages: 180
  • Tables: 219
  • Charts / Figures: 15
  • Companies covered: 11
  • Countries covered: 10

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