Dublin, Feb. 23, 2024 (GLOBE NEWSWIRE) -- The "Silicone Elastomers - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Silicone Elastomers Market to Reach $14.1 Billion by 2030
The global market for Silicone Elastomers estimated at US$7.8 Billion in the year 2022, is projected to reach a revised size of US$14.1 Billion by 2030, growing at a CAGR of 7.6% over the analysis period 2022-2030. Liquid Silicone Rubber (LSR), one of the segments analyzed in the report, is projected to record a 8.7% CAGR and reach US$5.7 Billion by the end of the analysis period. Growth in the High-Temperature Vulcanized (htv) segment is estimated at 7.2% CAGR for the next 8-year period. 
The global economic update indicates that the silicone market growth has been hindered by the pandemic, although vendors are identifying new growth opportunities amidst the challenges. In the competitive scenario, players are employing both organic and inorganic strategies to solidify their positions in the silicone elastomers market.
The report highlights select innovations and advancements in the industry and provides insights into the competitive market presence, categorizing players as strong, active, niche, or trivial, with 64 players identified worldwide in 2023. Looking ahead, the global market prospects and outlook are discussed, noting that stringent regulatory and clinical policies pose risks to market growth. The analysis covers different types of silicone and their end-uses, along with regional insights.
An overview of silicone elastomers is provided, emphasizing silicone rubber as the elastomer of choice for various applications. The report also reviews the properties and main applications of silicone. Recent market activity and select global brands are outlined to provide a comprehensive understanding of developments in the silicone market.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 9.1% CAGR
The Silicone Elastomers market in the U.S. is estimated at US$1.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$3.4 Billion by the year 2030 trailing a CAGR of 9.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 6.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.7 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 442 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $7.8 Billion |
| Forecasted Market Value (USD) by 2030 | $14.1 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Technological Advances Expanding Usage of Silicone Elastomers Across Industries
- Silicone Elastomers Display Amazing Radiance for Fluorescence Applications
- Promising Synthesis Approach for Fluorescent Silicone Elastomers
- UV-Curable Silicone Extrusion: Future Prospects
- Nanotechnology Integration Enabling Businesses in Addressing Evolving Industry Requirements
- Additive Manufacturing Aiding in Expanding Silicone Elastomer Applications
- Smart Manufacturing and Industry 4.0 Transforming Production Landscape
- A Recovering Construction Industry Bodes Well for the Silicone Elastomers Market
- Silicone Elastomers Market Moves Forward with Expansion of Construction Sector
- Construction Industry Dynamics Shape Demand Trends in Silicone Elastomers Market
- Encouraging Outlook for Automobile Production Despite Disruptions, Bodes Well for the Growth of Automotive Grade Silicone Elastomers
- Rubber, the Unsung Hero of Automotive Innovation
- Silicone Rubber for the Automotive Industry Rises in Prominence
- Stricter Emission & Safety Regulations and Standards Shift Focus Onto Silicone Elastomer Components
- Stricter Regulations & Ensuing Focus on Lightweighting & Safety Give Silicone Elastomer Components a Shot in the Arm
- Growing EV Adoption & Production to Benefit the Popularity of Silicone Elastomer Components in EVs
- Robust Sales of EVs Mean Increased Application Possibilities for Silicone Elastomer Components
- Growing EV Adoption & Production to Benefit the Popularity of Silicone Elastomer Components in EVs
- Robust Sales of EVs Mean Increased Application Possibilities for Silicone Elastomer Components
- Silicone Elastomers Gaining Popularity in Several Electric Vehicle Applications
- How Silicone Elastomers are Assisting Sprint to New Era of E-Mobility?
- Silicone Elastomer Technology for E-Mobility
- 3D Printing of Rubber Parts Rises in Prominence
- Self-Healing Elastomers: Adding Momentum to Sustainable Rubber Trend
- Increasing White Goods and Electronic Components Manufacture Spurs Demand in the Electronics Sector
- Consumer Goods Industry Drives Demand for Silicone
- Silicone Elastomers Market in Healthy Shape with Government Spending in Medical & Healthcare Sector
- Consistent Rise in Healthcare Spending Worldwide to Drive Market Opportunities
- Silicone as Drug-Eluting Matrix-Pros and Cons
- Rising Demand for Antimicrobial Silicone Elastomers to Drive Market Growth
- Repercussions of Government Regulations for Silicone Elastomers Market
FOCUS ON SELECT PLAYERS(Total 64 Featured)
- China National BlueStar (Group) Co., Ltd.
- KCC Corporation
- Mesgo S.p.A.
- Momentive Performance Materials, Inc.
- Reiss Manufacturing Inc.
- Shin-Etsu Chemical Co., Ltd.
- Specialty Silicone Products, Inc.
- Wacker Chemie AG
For more information about this report visit https://www.researchandmarkets.com/r/93v89b
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