Silicone Elastomers Market by Type (HTV, RTV, LSR), By Process (Extrusion, Liquid Injection Molding, Injection Molding), End-Use Industry (Building & Construction, Electrical & Electronics, Automotive & Transportation) & Region – Global Forecast to 2027

2022-05-27
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Published : May-2022
No. of Pages : 273
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“Growing demand in various end-use industries to boost demand for silicone elastomers”

Silicone elastomers market is expected to reach at USD 13.5billion in 2027 at a CAGR of 7.4% during the forecast period. Silicone elastomers are mainly used in the manufacturing of electrical insulation materials. They are also used in the aircraft industry for the development of insulating layers and high-temperature air ducts. Some silicone elastomers are also used in the manufacturing of sealants. Their physiological inertness makes them suitable for use in healthcare, especially for blood transfusions and in artificial heart valves & various prosthetic devices.

“By type, medical grade LSR is expected to be the fastest growing segment for silicone elastomers market during the forecast period”

Silicone rubber is a preferred material in the pharmaceutical industry due to its inherent properties such as non-reactiveness, stability, and resistance to extreme environments, compression set & bacterial growth, and extreme temperatures ranges. Silicone can operate in temperature ranges from -150ºF to 482ºF. It is generally used for static sealing applications. LSR material is widely used by medical device manufacturers owing to its excellent properties such as biocompatibility, better part quality, and its potential of reducing the risk of contamination during the manufacturing process.

“Liquid injection molding is expected to be the second-fastest growing process for silicone elastomers market during the forecast period, in terms of value”

Liquid injection molding involves extruding un-vulcanized preform rubber through a cylinder into a closed heated mold. The process needs short molding cycles and does not need to preform preparation or trimming with the correct mold design. It is ideal for products requiring close dimensional tolerances and uniformity and is used with HCR and FSR. All these factors drive the demand for liquid injection molding in various applications.

“Healthcare is expected to be the fastest growing end-use industry for silicone elastomers market during the forecast period, in terms of value”

Silicone elastomers are extensively used in the healthcare industry owing to their versatility, biocompatibility, low surface tension, high permeability, and pressure-sensitive properties. They are also used as seals, valves, catheters, microphone holders for hearing aids device, tube connectors, handles for surgical instruments, breathing tubes, syringe seals, cooling caps for chemotherapy, ventilation masks, and ventilation bags.

“Based on region, Asia Pacific region was the largest market for silicone elastomers in 2021, in terms of volume.”

Asia Pacific was the largest market for silicone elastomers in 2021, in terms of volume. The high demand in the region is attributed to the increased demand from the automotive, consumer goods, packaging, medical, and electrical & electronics industries, as well as the improving economic condition of the region. The industrial growth in Asia Pacific is driven by rising urbanization, which has resulted in an increased demand for injection molding process in various end-use industries.

In the process of determining and verifying the market size for several segments and sub segments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:

  • By Company Type: Tier 1 – 69%, Tier 2 -23%, and Tier 3 – 8%
  • By Designation: C-Level – 23%, Director Level – 37%, and Others – 40%
  • By Region: North America – 32%, Europe – 21%,APAC- 28%,Middle East & Africa – 12%, and South America-7%

The key players in this market are Dow Inc.(US), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (US), Shin-Etsu Chemical Co., Ltd (Japan), China National Bluestar (Group) Co., (China), Reiss Manufacturing Inc. (US), CHT Germany GmbH (Germany), among others.

Research Coverage

This report segments the market for silicone elastomers market on the basis of type, process, end-use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for silicone elastomers market.

Key benefits of buying this report

This research report is focused on various levels of analysis—industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide anoverall view on the competitive landscape; emerging and high-growth segments of the silicone elastomers market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on silicone elastomers market offered by top players in the global silicone elastomers market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the silicone elastomers market
  • Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for silicone elastomers market across regions
  • Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global silicone elastomers market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the silicone elastomers market
  • Impact of COVID-19 on silicone elastomers market
Filed in: Chemicals
Publisher : marketsandmarkets
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