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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Silicone Elastomers Market Outlook

The global silicone elastomers market size attained a value of approximately USD 10.20 billion in 2023. The market is further expected to grow at a CAGR of 7.3% in the forecast period of 2024-2032, reaching a value of around USD 19.29 billion by 2032.

Rapid industrialisation and surging consumer interest in consumer electronics and other electrical products are key drivers of the global silicone elastomers market. Silicone elastomers are extensively used for electrical insulation as they have high dielectric strength and are resistant to high temperatures. Apart from the interiors of electronic devices, silicone elastomers are also utilised in lighting of various types, including lamps, street lighting, industrial lamps., signage, automotive lamps, and healthcare headlamps. The growing usage of high efficiency electrical and electronics products are increasing the demand for silicone elastomers, thereby contributing to the growth of the market. In the coming years, product development of specialised silicone elastomers is anticipated to offer lucrative opportunities to the market for silicone elastomers.

Global Silicone Elastomers Market

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Diverse Applications of High Temperature Vulcanise (HTV) Silicone Elastomers Bolstering the Market

The high temperature vulcanise (HTV) segment, based on product, accounts for a significant share of the market for silicone elastomers. HTV silicone rubber is used in a diverse range of applications such as automotive and aerospace, electrical engineering, construction, and consumer goods, among others. This is due to the favourable properties of HTV silicone elastomers including high strength of siloxane bond, electrical conductivity, radiation resistance, steam resistance, flame retardance, oil resistance, and great resistance to extremely high temperatures.

Global Silicone Elastomers Market Share by Region

The Asia Pacific occupies a significant share of the global market for silicone elastomers, driven by the steady economic growth in countries like Indonesia, India, and China, among others, coupled with the thriving manufacturing sector in these countries. For instance, China manufactures a range of economical consumer goods and utility items. Hence, the growing use of silicone rubber by manufacturers in China, owing to the high strength and temperature resistance offered by the material, is likely to augment the silicone elastomers market revenue.

Silicone Elastomers: Market Segmentation

Silicone elastomer, also known as silicone rubber, is defined as a polymer of silicone formed by the crosslinking and treatment of amorphous silica to bolster its strength. It is a synthetic rubber found in many forms such as solids, closed cell sponges, and open cell forms, among others.

Global Silicone Elastomers Market

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Based on product, the market is segmented into:

  • High Temperature Vulcanise (HTV)
  • Room Temperature Vulcanise (RTV)
  • Liquid Silicone Rubber (LSR)

The silicone elastomers market segmentation, based on application is:

  • Electrical and Electronics
  • Automotive and Transportation
  • Industrial Machinery
  • Consumer Goods
  • Construction 
  • Healthcare and Medical Devices
  • Others

The regional markets for silicone elastomers include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Rising Applications in the Construction Industry to Boost the Silicone Elastomers Market Growth

Rising applications of silicone elastomers in the construction industry is driving the market growth. Silicone elastomers offer high and low temperature stability, are easy to colour, chemically resistant, and carry electrical properties. Hence, the growing construction activities across the globe are expected to favour the overall market for silicone elastomers in the forecast period. Moreover, silicone rubber is a crucial component in the manufacturing of medical devices and equipment. Therefore, the thriving healthcare and medical equipment sector in emerging economies is expected to provide further impetus to the market for silicone elastomers.

Global Silicone Elastomers Market

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Key Players in the Global Silicone Elastomers Market

The report gives a detailed analysis of the following key players in the global silicone elastomers market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • The Dow Chemical Company
  • Momentive Performance Materials Inc.
  • MESGO S.p.A.
  • Shin-Etsu Chemical Co., Ltd.
  • Reiss Manufacturing, Inc.
  • Wacker Chemie AG
  • Elkem ASA
  • China National Bluestar (Group) Co,Ltd. 
  • CHT Germany GmbH
  • Specialty Silicone Products, Inc
  • KCC Silicone Corporation
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Application
  • Region
Breakup by Product
  • High Temperature Vulcanise (HTV)
  • Room Temperature Vulcanise (RTV)
  • Liquid Silicone Rubber (LSR)
Breakup by Application
  • Electrical and Electronics
  • Automotive and Transportation
  • Industrial Machinery
  • Consumer Goods
  • Construction 
  • Healthcare and Medical Devices
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • The Dow Chemical Company
  • Momentive Performance Materials Inc.
  • MESGO S.p.A.
  • Shin-Etsu Chemical Co., Ltd.
  • Reiss Manufacturing, Inc.
  • Wacker Chemie AG
  • Elkem ASA
  • China National Bluestar (Group) Co,Ltd. 
  • CHT Germany GmbH
  • Specialty Silicone Products, Inc
  • KCC Silicone Corporation
  • Others

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Silicone Elastomers Market Report Snapshots

Silicone Elastomers Market Size

Silicone Elastomers Market Growth

Silicone Elastomers Companies

Silicone Elastomers Market Regional Analysis

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global market for silicone elastomers attained a value of approximately USD 10.20 billion.

The market is estimated to grow at a CAGR of 7.3% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 19.29 billion by 2032.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major drivers of the market include rising applications of silicone elastomers in the automotive and electrical and electronics industries, and growing industrialisation and urbanisation.

The key global silicone elastomers market trends include increasing construction and infrastructure activities and growing research and development by major market players.

The various products of silicone elastomers in the market are high temperature vulcanise (HTV), room temperature vulcanise (RTV), and liquid silicone rubber (LSR).

The different applications of silicone elastomers in the market include electrical and electronics, automotive and transportation, industrial machinery, consumer goods, construction, and healthcare and medical devices, among others.

The major players in the market, according to the report, are The Dow Chemical Company, Momentive Performance Materials Inc., MESGO S.p.A., Shin-Etsu Chemical Co., Ltd., Reiss Manufacturing, Inc., Wacker Chemie AG, Elkem ASA, China National Bluestar (Group) Co,Ltd., CHT Germany GmbH, Specialty Silicone Products, Inc, and KCC Silicone Corporation, among others.

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124