Global Silicone Elastomers Market Size to Reach USD 19.28 Billion in in 2032 | Emergen Research

Superior properties of silicone elastomers is a key factor driving global market revenue growth

Vancouver, Aug. 31, 2023 (GLOBE NEWSWIRE) — The anticipated trajectory for the worldwide silicone elastomers market indicates a projected value of approximately USD 19.28 Billion by the year 2032. This projection aligns with a consistent compound annual growth rate (CAGR) of 7.4% throughout the forecast duration. This analysis stems from the insights provided by Emergen Research.

One of the primary drivers behind the expansion of market revenues is the escalating requirement for silicone elastomers within the realm of the electrical and electronics sector. Notably, the demand for moldable silicones is on the rise, particularly due to their advanced attributes. These attributes position them as a superior choice for applications involving Light Emitting Diode (LED) lights and various illumination uses.

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Silicone elastomers have proven to be highly suitable for applications requiring electrical insulation. This is primarily attributed to their remarkable dielectric strength, a characteristic that mitigates the risk of surface insulation failures. These elastomers possess hydrophobic properties, rendering them resistant to the influence of factors like high temperatures, Ultraviolet (UV) radiation, and ozone exposure.

The electronics sector, in particular, has witnessed a notable surge in the utilization of silicone elastomers across a wide spectrum of applications. This surge can be attributed to the extensive array of silicone polymer chemistry and design options available, which offer effective solutions to prevailing technical challenges. As an illustrative example, consider the domain of Light Emitting Diode (LED) application components. This sector faces the dual challenge of accommodating escalating light flux while effectively managing increased heat demands.

Nevertheless, the growth trajectory of certain mature markets, including the United States, Germany, the United Kingdom, Japan, and several other Western European nations, has shown signs of stagnation. This, in turn, stands as a prominent factor with the potential to impede the progression of market revenues. Such stagnation can be attributed to factors like the prevailing economic stability in these regions, which has exerted a moderating influence on market expansion.

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Scope of Research

Major Companies and Competitive Landscape

The global silicone elastomers market is fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective silicone elastomers. Some major players included in the global silicone elastomers market report are:

• Dow Inc.
• Wacker Chemie AG
• Momentive Performance Materials Inc.
• Shin-Etsu Chemical Co., Ltd.
• China National Bluestar (Group) Co., Ltd.
• Rogers Corporation
• Cabot Corporation
• Reiss Manufacturing Inc.
• Mesgo S.P.A.
• CHT Germany GMBH

Strategic Development

• On 28 April 2023, Ecombine Advanced Materials Co., Ltd., EVE Rubber Institute, and ARLANXEO High Performance Elastomer (Changzhou) Co., Ltd. formed a strategic alliance in Shanghai. This agreement also includes a framework for visit exchanges between Ecombine and ARLANXEO China to widen the use of Liquid-phase Mixing Technology and enhance the high-quality development and green transformation of the rubber and tire sector.
• On 11 March 2022, Minnesota Rubber and Plastics (MRP), a provider of elastomer and thermoplastic solutions for the medical, water, and specialty industrial end markets, acquired Primasil Silicones, a custom silicone rubber compounder, mixer, and manufacturer based in Weobley, UK that specializes in the medical, HVAC, and specialty industrial end markets. Platinum-cured silicone, conductive silicone, flourosilicone, high- and low-temperature silicone, low smoke and toxicity silicone, and black rubber are all available as unique materials from Primasil. MRP’s materials science-driven Innovation Centre, will benefit from Primasil’s patented silicone expertise. Primasil’s production capabilities also include cleanroom molding, extrusion, and assembly, as well as mixing, injection molding, gum silicone, and Liquid Silicone Rubber (LSR) products.

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Some Key Highlights From the Report

• The High Temperature Vulcanized/High Consistency Rubber (HTV) segment is expected to account for largest revenue share in the global silicone elastomers market over the forecast period. HTV  silicone rubber is also known as heat cured silicone rubber. This is owing to increasing siloxane bond strength, electrical conductivity, radiation, steam, oil, and severe temperature resistance and flame retardance. These are made of reactive silicone gums, which are straight chains of extremely high molecular weight macromolecules with various reactive groups. Fumed or precipitated silicas with a high specific surface area are used to improve mechanical properties, heat stabilizers, and various additional additives such as plasticizers or anti-structuring agents. Cross-linking takes place in polycondensation systems that use organic peroxides or in polyaddition systems that use platinum catalysts. Cross-linking takes place in polycondensation systems that use organic peroxides or in polyaddition systems that use platinum catalysts.
• The automotive & transportation segment is expected to steadily fast revenue growth rate in the global silicone elastomers market over the forecast period. This is because silicone elastomers are extremely durable and stable across a wide temperature range. As automobiles have evolved into high-performance goods, the utilization of electrical components has increased. In addition, some models now include over 70 Electronic Control Units (ECUs) and silicone elastomers are used as sealing materials, adhesives, and potting agents for these ECUs. Conformal coatings are dielectric materials used to shield electric and electronic components from moisture, condensation, and dust. For example, conformal coatings protect electronic components on circuit boards against moisture, condensation, and dust. Potting can also help to reduce mechanical stress on electronic components caused by high temperatures and vibration. Regular silicone is known as dimethyl silicone, and it has methyl groups that are linked to the polymer’s chain.
• The North America market accounted for largest revenue share in the global silicone elastomers market in 2022 owing to increasing partnerships, collaborations, and agreements in this region. For example, Univar Solutions Inc. signed a distribution agreement with Dow for its silicone-based defoamers DOWSIL and XIAMETER for agricultural uses in Mexico. This agreement increases Univar Solutions’ ability to provide a wide range of industry-leading products, solutions, and expertise to its agrochemical customers. Excessive foaming in agriculture and crop protection can cause processing containers to overflow, disrupting packing, ruining materials or equipment, and potentially reducing capacity, production efficiency, and time. As a result, more maintenance costs and larger, more expensive equipment may be necessary to regulate the excess foam.

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For the purpose of this report, Emergen Research has segmented global silicone elastomers market on the type, process, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019–2032)
  • High Temperature Vulcanized/High Consistency Rubber (HTV)
  • Room Temperature Vulcanized
  • Liquid Silicone Rubber
    1. Industrial Grade Liquid Silicone Rubber
    2. Medical Grade Liquid Silicone Rubber
    3. Food Grade Liquid Silicone Rubber
• Process Outlook (Revenue, USD Billion; 2019–2032)
  • Extrusion
  • Liquid Injection Molding
  • Injection Molding
  • Compression Molding
  • Others
• End-use Outlook (Revenue, USD Billion; 2019–2032)
  • Automotive & Transportation
  • Electrical & Electronics
  • Healthcare
  • Consumer Goods
  • Building & Construction
  • Foam
  • Others
• Regional Outlook (Revenue, USD Million, 2019–2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. UK
    3. France
    4. Spain
    5. BENELUX
    6. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Israel
    4. Rest of Middle East & Africa

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