Silicone Elastomers Market Size & Share Global Analysis Report, 2024-2032
Silicone Elastomers Market Size & Share Global Analysis Report, 2024-2032

Silicone Elastomers Market Share, Size, Trends, Industry Analysis Report, By Product (High-Temperature Vulcanize, Room-Temperature Vulcanize, and Liquid Silicone Rubber); By Process; By Application; By Region; Segment Forecast, 2024-2032

  • Published Date:Jan-2024
  • Pages: 116
  • Format: PDF
  • Report ID: PM1540
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The global silicone elastomers market was valued at USD 6.3 billion in 2023 and is expected to grow at a CAGR of 10.4% during the forecast period. Growing utilization of the product across various industrial sectors, including construction and automotive, due to its high strength and moisture resistance and increasing use in conjugation with a variety of materials such as glass, concrete, aluminum, steel, and marble that are being widely used in both residential and commercial applications are among the key factors driving the global market growth. In addition, the emerging demand for the product from the electrical & electronics sector, continuously growing implementation of R&D activities by companies, and expanding their production capacity to cater to the need for the brad application base are further anticipated to create tremendous growth in the coming years.

The market research report offers an in-depth analysis of the industry to support informed decision-making. It offers a meticulous breakdown of various market niches and keeps readers updated on the latest industry developments. Along with tracking the Silicone Elastomers Market on the basis of SWOT and Porter’s Five Forces models, the research report includes graphs, tables, charts, and other pictorial representations to help readers understand the key insights and important data easily.

Silicone Elastomers Market Size

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For instance, in May 2022, Wacker Chemie announced to expand its production capabilities for silicone rubber. The company will gradually enhance its capacities for the LSR & HCR grades in the coming years. The company intends to increase growth in its chemical divisions by focusing on the production specialties.

There has been a significant rise in the demand for gaskets, seals, and O-rings across North America and the European region due to the increasing implementation of guidelines by the Environmental Protection Agency and the rising need for reducing the hazardous emissions from rotating the equipment along with the surge in requirement for superior sealing solutions to prevent leakage of fluids in oil & gas, aerospace, and industrial manufacturing sectors, are likely to contribute towards the market growth significantly.

The outbreak of the COVID pandemic has impacted the market growth. Regulations and restrictions have directly affected the automotive, construction, and electronic industries due to the closure of manufacturing facilities and high disruptions in the global supply chain. Since the market is highly dependent on these industries, the demand for the product has seen a significant decline in order during the pandemic.

Industry Dynamics

Growth Drivers
The presence of a variety of unique and beneficial properties in the silicone elastomers, such as excellent high-low temperature resistance, physiological inertness, oil resistance, better weather ability, flame retardance, and electrical insulation, due to which the product is being widely used to replace petrochemical products across several industries that are the major factors driving the demand and growth of the silicone elastomers market. Furthermore, the advent of medical-grade silicone elastomers that are highly suitable for the healthcare industry owing to their low toxicity and continuously improving characteristics by ongoing research activities are more likely to impact the global market positively. Moreover, the increasing prevalence of antimicrobial silicone elastomers in the healthcare industry and the demand for transparent silicone elastomers for a variety of optical applications are projected to create new growth opportunities for the market in the near future.

Silicone Elastomer

Report Segmentation

The market is primarily segmented based on product, process, application, and region.

By Product

By Process

By Application

By Region

  • High-Temperature Vulcanize
  • Room-Temperature Vulcanize
  • Liquid Silicone Rubber
  • Extrusion
  • Liquid Injection Molding
  • Injection Molding
  • Compression Molding
  • Others
  • Electrical & Electronics
  • Automotive & Transportation
  • Industrial Machinery
  • Consumer Goods
  • Construction
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Liquid silicone rubber segment accounted for the largest market share in 2022

The liquid silicone rubber segment accounted for the largest market share in 2022 and will likely retain its position throughout the forecast period. The growth of the segment market can be mainly attributed to the wide usage of LSR in various applications, including injection molding, as it is prevalent across numerous end-use industries like automotive, packaging, musical instruments, consumer goods, storage containers, toys, furniture, and housewares.

High-temperature vulcanize segment is also expected to grow significantly during the projected period due to its widespread use in various components of automotive vehicles because of its heat resistance, UV resistance, and superior oil properties. In addition, these products are two silicone rubber grades, which can be injection molded without any need for secondary processing; the adoption and prevalence across several types of EV applications, including PCT heaters, hangers, wire harness connectors, and sheath heaters, is increasing gradually.

Injection molding segment is expected to witness highest growth during forecast period

The injection molding segment is expected to grow at the highest CAGR during the anticipated period, mainly attributable to its increasing penetration and popularity regarding its ability to produce very large volumes in a short period at low costs compared to other manufacturing processes. Moreover, due to the flexibility of injection molding machines, they can produce even the smallest parts, which results in high preferences for the operation over others available in the market, thereby influencing the segment market growth.

Extrusion was the largest segment in terms of revenue in 2022, owing to high production rates and short lead times, and is ideal for tubing rods, wire insulation, and larger gaskets and effectively performs compression molding. In addition, the extrusion process is being widely used with HCR/HTV and fluoro-silicone rubber.

Construction segment held the largest market share in 20222

The construction segment held a significant market revenue share because of its substantial and crucial role in building-site equipment and various high-quality prefabricated elements. Along with this, strict regulations in the construction industry mandate construction companies or firms to utilize the best and high-quality materials to provide better safety during work. Additionally, the product is gaining significant traction to safeguard taller structures by absorbing the stresses and vibration due to its good acoustic and insulation properties, which makes it highly effective for vibration management.

However, the automotive & transportation segment is expected to account for a considerable market share over the projected period, which is mainly accelerated by its various beneficial properties, including excellent dielectric properties, resist weathering, and offer comparatively low compression rate along with the growing consideration of the product for a variety of bonding, sealing, and insulating applications.

Silicone Elastomer Seg

Asia Pacific region dominated the global market in 2022

The Asia Pacific region dominated the global market in 2022 with a healthy market share and is expected to maintain its dominance throughout the anticipated period. The regional market can be largely attributed to increasing product demand from various key application sectors, including automotive, building & construction, and electrical & electronics, coupled with the heavily rising investments in the APAC manufacturing businesses by different leading multinational corporations in recent years. The growing focus of various Northeast Asian countries on fostering economic growth across several important areas, like raw material extraction, manufacturing, and services, is also creating a huge demand for the products in the region.

The Europe region is projected to grow substantially over the coming years, owing to the growing adoption of protectionism, regulatory assistance, financial investments, and a continuous rise in the penetration of lightweight silicones in transportation and construction appliances. The rapid expansion in the construction industry across several major countries such as the UK, Germany, Spain, France, and Italy, along with the increasing EU financing and supportive policies like tax cuts, incentives, and subsidies, is further anticipated to boost the demand and growth of the market.

Competitive Insight

Some of the major players operating in the global silicone elastomers market include China National BlueStar, Dow Inc., KCC Corporation, Shin-Etsu Chemical, Wacker Chemie, Specialty Silicone Products, Stockwell Elastomerics, Momentive Performance Materials, Reiss Manufacturing, CHT Germany, Cabot Corporation, Akzo Nobel, SIGMA SOFT, Bentec Medical OpCo, and Marsh Bellofram.

Silicone Elastomer Reg

Recent Developments

  • In October 2022, Liqcreate introduced ultra-soft elastomer X 3-D printing resin. The newly developed elastomer features high elongation, tear strength, & shore hardness, which provides its resilience as silicones and TPUs.
  • In May 2021, Siltech introduced its latest silicone elastomer gel, a novel gel diluted in a sustainable bio-based hemi-squalene carrier. The product offers a wide range of benefits, including moisturization and cushion, & having excelled in providing powder dispersion and uniform color in makeup.

Silicone Elastomers Market Report Scope

Report Attributes


Market size value in 2024

USD 6.95 billion

Revenue forecast in 2032

USD 15.40 billion


10.4% from 2024– 2032

Base year


Historical data

2019 – 2022

Forecast period

2024– 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Product, By Process, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

China National BlueStar Co. Ltd., Dow Inc., KCC Corporation, Shin-Etsu Chemical Co. Ltd., Wacker Chemie AG, Specialty Silicone Products Inc., Stockwell Elastomerics Inc., Momentive Performance Materials Inc., Reiss Manufacturing Inc., CHT Germany GmbH, Cabot Corporation, Akzo Nobel N.V., SIGMA SOFT, Bentec Medical OpCo LLC, and Marsh Bellofram Group of Companies.

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key companies in silicone elastomers market are China National BlueStar, Dow Inc., KCC Corporation, Shin-Etsu Chemical, Wacker Chemie, Specialty Silicone Products, Stockwell Elastomerics, Momentive Performance Materials.

The global silicone elastomers market expected to grow at a CAGR of 10.4% during the forecast period.

The silicone elastomers market report covering key segments are product, process, application, and region.

key driving factors in silicone elastomers market are increased demand from construction industry.

The global silicone elastomers market size is expected to reach USD 15.40 billion by 2032.