Silicone Elastomers Market Size Worth $15.40 Billion By 2032 | CAGR: 10.4%

Silicone Elastomers Market Size Worth $15.40 Billion By 2032 | CAGR: 10.4%

The global silicone elastomers market size is expected to reach USD 15.40 billion by 2032, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing utilization of silicone elastomers in the automotive & transportation industry for the manufacturing of connector seals, turbocharger hoses, silicone wiper blades, ignition cables, and gaskets has changed the conception in the industry along with the increased awareness regarding its beneficial properties, including tear resistance, low surface friction, and self-adhesiveness are prominent factors propelling the market growth. Additionally, increasing R&D initiatives and investments that major players are undertaking to introduce products with more innovative features are further likely to support the market expansion.

For instance, in December 2022, Dow introduced its “SILASTIC SA 994X” rubber series with more sustainable, smarter, and safer technologies for the transportation and mobility industry. It is a comprehensive range of primer-less, & self-lubricating LSRs.

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In recent years, the product has found vast applications in the medical & healthcare sector, especially for fabricating medical devices and device components with relatively low viscosity due to increasing prevalence for health management, life support facilities, developments in medical devices, and high prevention. Thus, with the upsurge in healthcare expenditure, the demand for silicone elastomers will also rise during the forecast period.

Silicone elastomers have been replacing organic elastomers in various rubber applications, as they are reliably applied in the field and have several specific features. Many of the features of silicone elastomers are true technology enablers that can be transformed into various unique benefits for implementing and integrating innovative products and technologies.

Silicone Elastomers Market Report Highlights

  • The liquid silicone rubber segment accounted for the largest market share in 2022 on account of the growing prevalence of the product across several end-use industries like automotive and consumer goods.
  • The injection molding segment is projected to witness the fastest growth over the forecast period, mainly driven by its production in larger volumes in a shorter period.
  • The construction segment held a considerable market share in 2022, owing to its widespread use in the building-site equipment and the presence of good acoustic and insulation properties.
  • Asia Pacific dominated the global market in 2022, highly attributable to rapid growth in the automotive, consumer goods, and construction industries and increasing foreign direct investments in infrastructure development.
  • The global key market players include KCC Corporation, Cabot Corporation, Specialty Silicone Products, Shin-Etsu Chemical, Dow Inc., & Wacker Chemie

Polaris Market Research has segmented the silicone elastomers market report based on product, process, application, and region:

Silicone Elastomers, Product Outlook (Revenue - USD Billion, 2019 - 2032)

  • High-Temperature Vulcanize
  • Room-Temperature Vulcanize
  • Liquid Silicone Rubber

Silicone Elastomers, Process Outlook (Revenue - USD Billion, 2019 - 2032)

  • Extrusion
  • Liquid Injection Molding
  • Injection Molding
  • Compression Molding
  • Others

Silicone Elastomers, Application Outlook (Revenue - USD Billion, 2019 - 2032)

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

Silicone Elastomers, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

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  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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