Silicone Elastomers Market Size

Silicone Elastomers Market Size

Silicone Elastomers Market was valued at USD 10 billion in 2020 and is estimated to grow at a CAGR of over 6.5% through 2027 with increasing application scope in consumer goods and automotive industries.

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Silicone elastomers plays an essential role in construction materials and machinery, as it plays a critical role in the delivery of high-quality prefabricated building elements and building elements. The increasing urban population worldwide is one of the most significant factors contributing to the demand for silicone elastomers in construction industry.

Aging infrastructure is a major concern across the globe, which has led to a focus on the infrastructure upgrade is driving the demand for silicone elastomers in the coming years. Conservation & development, transportation, office, public safety, and highway & street are some of the areas of focus in infrastructural development in developing countries like China, India, UK and the U.S.

The booming construction sector in India, China, Malaysia, and Vietnam as a result of rapid industrialization and urbanization is benefitting the silicone elastomers market. Rapidly emerging economies of across the globe are leading to the construction of commercial & residential buildings, creating a high demand for silicone elastomers from the construction sector.  In addition to that, superior properties of elastomers such as low surface friction, tear resistance, temperature resistance, and self-adhesiveness, make them ideal for a variety of applications in the construction, automotive, consumer goods, healthcare, medical, electrical & electronics, and industrial sectors.