According to the report, the global silicone elastomers market was valued at USD 10.30 billion in 2023 and is expected to reach USD 19.91 billion by 2032, growing at a CAGR of 7.60% between 2024 and 2032.
Zion Market Research has published a new report titled “Silicone Elastomers Market By Type (Room Temperature Vulcanized, Liquid Silicone Rubber, and High Temperature Vulcanized), by Process (Compression Molding, Liquid Injection Molding, Injection Molding, Extrusion, and Others) and for Application (Construction, Electrical & Electronics, Healthcare, Industrial Machinery, Automotive & Transportation, Consumer Goods, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 – 2032”.
In terms of volume, the global silicone elastomers market stood at approximately 6.08 kilotons in 2023. Silicone elastomers are the vulcanized polymers of silicone. It is derived synthetically by using various kinds of manufacturing processes such as extrusion, injection molding, compression, and others. It possesses special characteristics such as it has excellent molding and flexibility properties as well as strong resistance to ultraviolet, ozone, and general weathering (frost, rain, sleet, etc.) It also has outstanding curing and blending & sealing properties. Therefore, finds a broad range of end-uses such as sealants, foaming agents, etc. for automotive, construction, electronics, consumer goods, etc.
In terms of major types, the global silicone elastomers market is categorized into room-temperature vulcanized, liquid silicone rubber, and high-temperature vulcanized. Liquid silicone rubber is an immensely used type of saline elastomer. In 2023, this type dominated the market and accounted for more than 30% share of the entire market. Furthermore, liquid silicone rubber is expected to be the fastest-growing segment of the market in the future years. Moreover, room-temperature vulcanized is predicted to achieve exponential growth owing to the surging demand for room-temperature vulcanized adhesives in the industrial sector across the globe. High-temperature vulcanization is expected to grow at a CAGR of 6.6% between 2024 and 2032.
Based on the manufacturing process, extrusion was the largest process segment of the global silicone elastomers market in 2023. It accounted for more than 40% share of the total market in 2023 and it is expected to witness moderate growth over the upcoming years. Liquid injection molding was the second largest segment of the market in the same year. Moreover, it is likely to augment the lucrative demand in the years to come. Compression molding and injection molding are also projected to reveal moderate growth within the forecast period.
With a significant share, the silicone elastomers market was dominated by the construction application in 2023. It held around 40% share of the total market in 2023. Moreover, automotive is predicted to be one of the fastest-growing segments of the market over the years to come. Growing demand for silicone elastomer adhesives in automotive applications is likely to propel the market margin in the upcoming years. Healthcare and consumer goods applications are expected to grow at a strong CAGR during the next few years.
The Asia Pacific dominated the market for silicone elastomers in 2023. It accounted for around 46% share of the total market in 2023 and it is further expected to grow at the highest CAGR within the forecast period. Emerging markets are expected to bolster the market size, especially in developing countries such as Brazil, India, China, South Africa, and some Southeast Asia countries. Furthermore, Europe and North America are expected to grow at a moderate pace in the near future. Latin America and the Middle East & Africa are projected to witness significant market growth during the next few years.
Silicone Elastomers Market: Competitive Analysis
The global silicone elastomers market is dominated by players like:
- Dow Corning
- Cabot Corporation
- AkzoNobel
- Bentec Medical Incorporated
- ELMET
- Reiss Manufacturing Incorporated
- Sigmasoft Engineering GmbH.
- Wacker Chemie AG
- Momentive
- Allergan
- ContiTech AG
- Saint-Gobain
- Shin-Etsu Chemical Company Limited
- Arlon Silicone Technologies
- Rogers Corporation
- MESGO s.p.A
- Marsh Bellofram
The global Silicone Elastomers Market has been segmented as follows:
Silicone Elastomers Market: Type Analysis
- Room Temperature Vulcanized
- Liquid Silicone Rubber
- High-Temperature Vulcanized
Silicone Elastomers Market: Process Analysis
- Compression Molding
- Liquid Injection Molding
- Injection Molding
- Extrusion
- Others
Silicone Elastomers Market: Application Analysis
- Construction
- Electrical & Electronics
- Healthcare
- Industrial Machinery
- Automotive & Transportation
- Consumer Goods
- Others
Silicone Elastomers Market: Regional Analysis
- North AmericaThe U.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
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