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 (U.S., Germany, UK, France, Italy, China, India, Japan, South Korea, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
Published Date: Mar 2016 | 180 Pages | Report ID: GMI361 | Authors: Kunal Ahuja, Sonal Singh Report Format: PDF
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.
U.S. Silicone Elastomers Market size, by application, 2013-2023 (USD Million)
Get more details on this report by requesting a free sample copy
Silicone elastomers market 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. Flourishing automotive industry in developing economies like India, South Korea and well established automobile industry in countries like Germany, China, France is anticipated to bolster the silicone elastomers market.
These products are used as adhesives in electronics & electrical products due to its properties of 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 it is resistant to high temperature and has a long terms sustainability. Hence, silicone elastomers market demand is expected to bolster in next couple of years in construction and electrical industry.
These are convenient to use in ornaments, furniture, restoration, prototyping, and mould making. Increase in global population, rise in disposable income, and surge in purchase power parity of people has 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, 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.
LSR (Liquid Silicone Rubber) 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 several years owing to its applications in various end-user industries like consumer goods, automotive, packaging, furniture and toys. RTV (Room Temperature Vulcanize) is the segment that reports the lowest contribution in the silicone elastomers market by product type and is expected to have a revenue of USD 780 Million in 2015. This product is generally used for low temperature applications like making moulds, lens and over-moulding.
Silicone Elastomers Market, By Application
Silicone elastomers market applications include construction, consumer goods, industrial machineries, automotive, electrical & electronics etc. Electrical & electronics industry 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 products as they are used in sealants and structural glazing applications. Construction industry is anticipated to have a silicone elastomers market share of more than 40%.
Another upcoming application of silicone elastomers market products 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.
Silicone Elastomers Market, By Region
Asia Pacific is the leading region in terms of silicone elastomers market 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 industries 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 silicone elastomers market 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 share 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 market 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.
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 is luring the customers to purchase these products.
What Information does this report contain?
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability
Why Global Market Insights?Comprehensive Research
- All-inclusive coverage
- In-depth and granular data (ex: information for 8 to 15 countries, with clients open to add to this list, in each report)
- Penetrative insights & latest trends
- Offers holistic understanding of the market
- Unique methodology
- Iterative in nature to eliminate errors
- Detailed methodology, scope, assumptions and data sources available for reference
- Committed to making a positive difference for our clients
- Given the nature of this industry, we are committed to ensure that our clients get maximum return on their investment in our services
- Every purchase comes with an option to obtain additional information:
- up to 10% of the original cost
- 45-minute analyst tele-call to obtain further clarity on the market.
- Global Market Insights, Inc. strictly adheres to PCI-DSS security norms.
- Only PCI-DSS compliant payment methods used for highest level of client data security
Connect with our sales team