New York, NY, Aug. 15, 2018 (GLOBE NEWSWIRE) -- 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, 2017 – 2024”. According to the report, global silicone elastomers market was valued at USD 8.12 billion in 2017 and is expected to reach USD 12.37 billion in 2024, growing at a CAGR of 6.2% between 2018 and 2024. In terms of volume, the global silicone elastomers market stood at approximately 4.08 kilotons in 2017.
Silicone elastomers are the vulcanized polymers of silicone. It is derived synthetically by using various kind 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.
Browse through 105 Tables & 43 Figures spread over 110 Pages and in-depth TOC on “Global Silicone Elastomers Market: By Industry Type, Size, Share, Segments, Analysis and Forecast, 2017 – 2024”.
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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 immensely used type of saline elastomer. In 2017, 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 adhesive in the industrial sector across the globe. High temperature vulcanized is expected to grow at a CAGR of 5.6% between 2018 and 2024.
Based on the manufacturing process, extrusion was the largest process segment of the globe silicone elastomers market in 2017. It accounted for more than 40% share of the total market in 2017 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 is also projected to reveal the moderate growth within the forecast period.
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With the significant share, the silicone elastomers market was dominated by the construction application in 2017. It held for around 30% share of the total market in 2017. 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.
From a few decades, Asia Pacific is one of the prominent markets for silicone elastomers and it is also further predicted to retain the dominance over the market during the next few years. Surging industries such as construction, automotive, electronics, and consumer goods will boost the demand for silicone elastomers in the region. China is the major consumer and producer of silicone elastomer in the Asia Pacific region. Moreover, India is the second largest country in the region and in the future years, it is expected to spur the growth with significant CAGR within the forecast period.
Browse the full "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, 2017 – 2024" report at https://www.zionmarketresearch.com/report/silicone-elastomers-market
Europe was the second largest market for silicone elastomers in 2017. Germany is one of the prime countries that contribute to the strong demand for silicone elastomers in the region. Growing automotive industry in France, Italy, Spain, and Germany is likely to accelerate the market’s margin in the region over the forthcoming years. Moreover, the presence of strong players of silicone elastomer combined with the strong properties of silicone elastomers is projected to boost the market growth in the region over the future years.
North America is another important market for silicone elastomers which is expected to grow at a noteworthy CAGR over the next few years. The U.S. is a major market for silicone elastomers. Surging demand for consumer goods in the region is likely to augment the market growth in the near future. Moreover, a strong production base for silicone elastomers in the region will drive the future growth over the next few years.
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Latin America and the Middle East & Africa are predicted to reveal moderate growth over the forecast period. Rapidly growing demand for silicone elastomers adhesives and sealants especially in Brazil, Argentina, and Saudi Arabia region will drive the market in the near future. Moreover, growing international investment in the regions is also expected to drive the market in the region.
Some of the key players of global silicone elastomers market include Dow Corning, Cabot Corporation, AkzoNobel, Bentec Medical Incorporated, ELMET, and Reiss Manufacturing Incorporated. Other players influencing the market are 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, and Marsh Bellofram.
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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 America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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