Silicone elastomer market will grow substantially by 2023

Update:27-07-2019
Summary:

Silicone elastomer is a synthetic rubber, inorganic in […]

Silicone elastomer is a synthetic rubber, inorganic in nature, made via cross-linking of silicone-based polymers in presence of certain catalysts. This compound is available in variety of forms including solids, closed cell sponges, open cell foams, electrically conductive, and thermally conductive materials. Silicone elastomer is considered as a chemical bridge between inorganic & organic polymers, owing to its unique combination of mechanical and chemical properties. Silicone Elastomer Market Report, published by Allied Market Research, projects that the global market was valued at million in 2016, and is projected to reach  million by 2023, growing at a  from。

The high consistency rubber type held more than half of the global market in 2016.Emerging applications in medical device & healthcare industries and high demand in electrical & electronics industry is expected to drive the market growth. However, volatility in raw material prices may impede the projected market growth. Increase in demand for antimicrobial silicone elastomers and growth in demand for automotive vehicles employing silicone elastomer are expected to present growth opportunities for various players in the market.Liquid silicone rubber is expected to grow at the highest , in terms of revenue, during the analysis period, due to its specific properties such as temperature protection, natural transparency, excellent chemical & oil resistance, increased stability, ray protection, and oxidation & light resistance.

These rubbers are mainly employed in electronics, automotive, construction, home repair & hardware, and other end uses.In 2015, the high consistency rubber segment occupied major market, in terms of revenue, with more than half of the share. However, this trend is expected to decline to some extent during the forecast period, owing to wide scale application of liquid silicone rubber in various end-use industries. Silicone elastomers have major applications in automotive and construction industries. Moreover, the automotive application segment accounted for second largest market share in 2015, and is expected to grow at the lucrative CAGR during the forecast period.

The others application segment, including baby care, cosmetics, optics, food, and more, is witnessing the highest CAGR attributed to their increased demand in the upcoming period. Asia-Pacific dominates the global silicone elastomer market due to huge production and demand in China. Increase in focus of manufacturers & consumers on improved versions and better compositions of silicone elastomers at lower costs has led to rigorous R&D, thus resulting in many patents published on it in recent years.Silicone elastomers are materials with peculiar characteristics such as fine electrical properties, superior heat & cold resistance, enhanced chemical stability, and flame retardancy. Raw materials for silicone elastomer generally comprise silicones, catalysts, and fillers, coupled with different temperature & pressure based on the required application. 

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