Silicone Elastomers Market is valued at USD 9.4 billion in 2022 and is projected to reach a value of USD 16.64 billion in 2030 expanding at a CAGR of 7.4% over the forecast period of 2022-2030.
Silicone elastomer makers produce a wide exhibit of different items with their restrictive added substances according to the end-use industry necessities. Organizations are participated in broad R&D to foster their item portfolio and fresher added substances with better properties than fulfill the rising business need and severe prerequisites. The business is portrayed by an elevated degree of in reverse coordination. Organizations creating silicone natural substances typically likewise produce silicone elastomers.
Electrical insulation materials are often produced using silicone elastomers. They are also utilised in the aircraft industry for the creation of high-temperature air ducts and insulating layers. Sealants are also produced using several silicone elastomers. They are appropriate for use in healthcare due to their physiological inertness, particularly for blood transfusions, artificial heart valves, and different prosthetic devices.
Due to its intrinsic qualities, such as non-reactivity, stability, resistance to harsh conditions, compression set & bacterial growth, and extreme temperature ranges, silicone rubber is a popular material in the pharmaceutical business. -150°F to 482°F are the temperature ranges in which silicone may function. For static sealing applications, it is typically used. Due to its great qualities, including biocompatibility, superior part quality, and the potential to lower the danger of contamination during the manufacturing process, LSR material is commonly employed by medical device manufacturers.
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Global Silicone Elastomers Market: Segmental Analysis
Based On Type:
• High Temperature Vulcanized
• Room Temperature Vulcanized
• Liquid Silicone Rubber
Based On End-Use Industry:
• Building & Construction
• Electrical & Electronics
• Automotive & Transportation
• Healthcare
• Consumer Goods
• Foam
• Others
Based On Process:
• Extrusion
• Liquid Injection Molding
• Injection Molding
• Compression Molding
Competitive Landscape
Some of the prominent companies operating in the 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), and CHT Germany GmbH (Germany).
Key Trends
Superior Properties Of Silicone Elastomers Have Increased The Demand
One of the major factor that has fuelled the market growth is the superior properties of silicone elastomers over the forecast period. This is because of their unique properties that includes, excellent high and low-temperature resistance, electrical insulation, physiological inertness, oil resistance, excellent weather ability, and flame retardance. Because of these unique characteristics, silicone elastomers are widely used to replace petrochemical products in various industries that includes, aerospace, munitions, automobile, construction, electric & electronics, medical, and food processing.
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