Global Silicone Rubber Market Introduction:
"The Silicone Rubber Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Silicone rubbers are elastomers based on high molecular weight linear polymers, generally polydimethylsiloxanes, which also may be modified with functional groups. Silicone rubbers are available in liquid or paste consistencies.
They are also available as room-temperature-vulcanizing (RTV) sealants, adhesives, potting and encapsulating compounds, gums, bases, and compounded stocks for fabricating heat-cured rubber products. Silicone rubbers are considered as one of the best materials and are highly valued for exceptional properties of elongation, high tear strength, good thermal conductivity, and temperature and fire resistance.
Increasing demand for silicone rubber from the plastics industry, increasing applications in medical devices and use in products for applications in healthcare sectors are some of the major factors driving the silicone rubber market growth. In addition, properties such as resistance to heat and chemicals, along with growing demand from various industries such as automotive and electronics are among other factors expected to drive growth of the silicone rubber market.
Furthermore, wide applicability of liquid silicone rubber in the production of household goods such as protective gloves, mats, ice cube and jelly moulds, bread moulds, lampshades, and various others, is expected to continue to support growth of the target market over the forecast period.
Increasing R&D activities by major manufacturers for the development of innovative products is expected to present new opportunities in terms of revenue for players operating in the global silicone rubber market over the forecast period. Moreover, high demand for automobiles and trending antimicrobial silicone rubber which is ideal for use in food & beverage and pharmaceutical sectors are expected to provide further opportunities for growth of players operating in the global silicone rubber market.
However, fluctuation in supply and prices of raw materials can act as a major restraining factor for growth of the market.
By application: Among the application segments, the automotive segment is expected to account for majority revenue share over the forecast period, owing to high market potential for investment and rise in demand for related parts.
The market in North America is expected to dominate the global silicone rubber market. This can be attributed to growing demand from the healthcare sector and food and beverage industry, coupled with the presence of major manufacturers operating in countries in this region. Europe market is the second highest in terms of revenue contribution to the global silicone rubber market, followed by markets in Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific is expected to register the fastest compounded annual growth over the forecast period, owing to growing automotive and electronics industries in emerging economies such as China and India.
Global Silicone Rubber Market Segmentation:
- High Consistency Rubber (HCR)
- Room Temperature Vulcanisation (RTV)
- Fluorosilicone Rubber
- Electricals & electronics
- Others (Domestic Uses, Aviation, Construction)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- ICM Products Group
- Elkem AS
- KCC Corporation
- The Dow Chemical Company
- Mesgo S.p.A.
- Momentive Performance Materials Inc.
- Reiss Manufacturing, Inc.
- Shin-Etsu Chemical Co., Ltd.
- Specialty Silicone Products Inc.
- Wacker Chemie AG (Wacker)
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