Product Code: 978-1-68038-449-9
Silicone Elastomer Market Growth & Trends:
The global silicone elastomer market size is expected to reach USD 12.58 billion by 2030, registering a CAGR of 10.3% from 2024 to 2030, according to a new study by Grand View Research, Inc. Superior quality over conventional elastomers makes it ideal for industrial usage, thereby positively affecting the overall industry. End-use industries, such as construction, automotive, and electrical & electronics, are expected to witness rapid growth over the forecast period. Silicone elastomers are widely used in the medical and healthcare industries. Silicone elastomers have quickly acquired popularity in the medical and healthcare industries, from medical equipment to drug delivery systems. Favorable features, such as inertness, high permeability, ease of processing, and low toxicity contribute to this acceptability.
With a rising population, the medical sector has been under immense pressure to meet the rising healthcare demand. Moreover, the aging population in certain countries of the world, such as North America, is expected to put a burden on the medical and healthcare business throughout the projection period. Construction was a dominant application segment in 2023. It was followed by the automotive and electrical & electronics segments, which held 23.8% and 13.8% shares, respectively, in the same year. The electrical & electronics segment is expected to grow at the fastest CAGR from 2024 to 2030. The electronics end-use segment is expected to witness a significant growth rate during the forecast period. Silicone elastomer is used to enclose electronic components to increase their stability against vibration, shock, and radiation.
Thus, it helps enhance durability, thereby, boosting the overall performance of the device under extreme conditions, such as zero gravity and low-pressure areas. Factors, such as expanding population, increasing disposable income of the middle-class population, and digitalization are creating significant growth opportunities for the electronics industry. This, in turn, is expected to boost product demand over the forecast period. Key companies are constantly engaged in mergers & acquisitions, developing new products, and other techniques to enhance their market share. For instance, in November 2021, Momentive Performance Materials Inc. acquired KCC Corp.'s silicone business in the U.K. and Korea as well as the sales operations in China. This agreement will enable Momentive Performance Materials Inc. to further expand its global footprint across advanced silicones.
Silicone Elastomer Market Report Highlights:
- In 2023, Asia Pacific was the largest revenue-generating region due to rapidly growing economies, such as India, China, and South Korea
- Moreover, leading players are shifting their manufacturing bases to Asia Pacific on account of the availability of cheap labor. This is expected to drive the regional market during the forecast period
- Liquid Silicone Rubber (LSR) was the largest product segment in 2023 and is anticipated to expand further at a steady CAGR retaining the dominant position throughout the forecast period
- LSR uses only additive curing with platinum and is compatible with temperatures ranging from -60°C to 250°C, owing to which, it is widely used in the production of complex and small-size elastomeric parts for automotive & medical devices
- In March 2022, Shin-Etsu Chemical Co., Ltd. developed a new vulcanization type of one-component LSR under the recently introduced KCP series product line. The new product is superior in vulcanization attributes and safety
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Products & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
Chapter 2. Executive Summary
- 2.1. Market Snapshot, 2023 (USD Million)
- 2.2. Segmental Snapshot, 2023
- 2.3. Competitive Snapshot
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Global Elastomers Market Lineage Outlook
- 3.1.2. Global Silicone Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Raw Material Trend Analysis
- 3.3. Technology Overview
- 3.3.1. Manufacturing Technology
- 3.4. Regulatory Framework
- 3.4.1. Standard & Compliances
- 3.4.2. Safety
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Challenge Analysis
- 3.5.4. Market Opportunity Analysis
- 3.6. Industry Analysis - Silicone elastomers market
- 3.6.1. Porter's Five Force Analysis
- 3.6.1.1. Bargaining Power of Supplier
- 3.6.1.2. Bargaining Power of Buyer
- 3.6.1.3. Threat of Substitution
- 3.6.1.4. Threat from New Entrant
- 3.6.1.5. Competitive Rivalry
- 3.6.2. Macroeconomic Analysis
- 3.6.2.1. Political Analysis
- 3.6.2.2. Environmental Analysis
- 3.6.2.3. Social Analysis
- 3.6.2.4. Technology Analysis
- 3.6.2.5. Economic Analysis
- 3.6.2.6. Legal Analysis
- 3.6.3. Impact of Russia & Ukraine geopolitical implications on Silicone elastomers market
- 3.6.4. Impact of COVID-19 on Silicone elastomers market
Chapter 4. Silicone elastomers market: Product Estimates & Trend Analysis
- 4.1. Product movement analysis & market share, 2023 & 2030
- 4.2. High temperature vulcanized (HTV)
- 4.2.1. Silicone elastomers market, estimate and forecasts, by High temperature vulcanized (HTV), 2018 - 2030 (Kilotons) (USD Million)
- 4.3. Room Temperature Vulcanization (RTV)
- 4.3.1. Silicone elastomers market, estimate and forecasts, by Room Temperature Vulcanization (RTV), 2018 - 2030 (Kilotons) (USD Million)
- 4.4. Liquid silicone rubber (LSR)
- 4.4.1. Silicone elastomers market, estimate and forecasts, by Liquid silicone rubber (LSR), 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Silicone elastomers market: Application Estimates & Trend Analysis
- 5.1. Application movement analysis & market share, 2023 & 2030
- 5.2. Electrical & electronics
- 5.2.1. Silicone elastomers market, estimate and forecasts, by Electrical & electronics, 2018 - 2030 (Kilotons) (USD Million)
- 5.3. Automotive & transportation
- 5.3.1. Silicone elastomers market, estimate and forecasts, by Automotive & transportation, 2018 - 2030 (Kilotons) (USD Million)
- 5.4. Industrial machinery
- 5.4.1. Silicone elastomers market, estimate and forecasts, by Industrial machinery, 2018 - 2030 (Kilotons) (USD Million)
- 5.5. Consumer goods
- 5.5.1. Silicone elastomers market, estimate and forecasts, by Consumer goods, 2018 - 2030 (Kilotons) (USD Million)
- 5.6. Construction
- 5.6.1. Silicone elastomers market, estimate and forecasts, by Construction, 2018 - 2030 (Kilotons) (USD Million)
- 5.7. Others
- 5.7.1. Silicone elastomers market, estimate and forecasts, by Others, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Silicone elastomers market: Regional Estimates & Trend Analysis
- 6.1. Regional movement analysis & market share, 2022 and 2030
- 6.2. North America
- 6.2.1. North America Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2. North America Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3. North America Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.1. U.S.
- 6.2.3.1.1. U.S. Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.1.2. U.S. Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.1.3. U.S. Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.2. Canada
- 6.2.3.2.1. Canada Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.2.2. Canada Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.2.3. Canada Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.3. Mexico
- 6.2.3.3.1. Mexico Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.3.2. Mexico Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3.3.3. Mexico Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.3. Europe
- 6.3.1. Europe Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.2. Europe Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3. Europe Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.1. Germany
- 6.3.3.1.1. Germany Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.1.2. Germany Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.1.3. Germany Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.2. UK
- 6.3.3.2.1. UK Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.2.2. UK Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.2.3. UK Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.3. France
- 6.3.3.3.1. France Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.3.2. France Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.3.3. France Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.4. Italy
- 6.3.3.4.1. Italy Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.4.2. Italy Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.4.3. Italy Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.5. Netherlands
- 6.3.3.5.1. Netherlands Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.5.2. Netherlands Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.5.3. Netherlands Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.6. Spain
- 6.3.3.6.1. Spain Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.6.2. Spain Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3.6.3. Spain Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.2. Asia Pacific Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3. Asia Pacific Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.1. China
- 6.4.3.1.1. China Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.1.2. China Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.1.3. China Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.2. India
- 6.4.3.2.1. India Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.2.2. India Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.2.3. India Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.3. Japan
- 6.4.3.3.1. Japan Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.3.2. Japan Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.3.3. Japan Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.4. South Korea
- 6.4.3.4.1. South Korea Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.4.2. South Korea Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.4.3. South Korea Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.5. Australia
- 6.4.3.5.1. Australia Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.5.2. Australia Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.5.3. Australia Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.6. Indonesia
- 6.4.3.6.1. Indonesia Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.6.2. Indonesia Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.6.3. Indonesia Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.7. Thailand
- 6.4.3.7.1. Thailand Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.7.2. Thailand Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.7.3. Thailand Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.8. Vietnam
- 6.4.3.8.1. Vietnam Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.8.2. Vietnam Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3.8.3. Vietnam Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.5. Central & South America
- 6.5.1. Central & South America Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.2. Central & South America Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.3. Central & South America Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.3.1. Brazil
- 6.5.3.1.1. Brazil Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.3.1.2. Brazil Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.3.1.3. Brazil Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.3.2. Argentina
- 6.5.3.2.1. Argentina Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.3.2.2. Argentina Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.3.2.3. Argentina Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.6. Middle East & Africa
- 6.6.1. Middle East & Africa Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.2. Middle East & Africa Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3. Middle East & Africa Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3.1. Saudi Arabia
- 6.6.3.1.1. Saudi Arabia Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3.1.2. Saudi Arabia Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3.1.3. Saudi Arabia Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3.2. United Arab Emirates (UAE)
- 6.6.3.2.1. UAE Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3.2.2. UAE Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3.2.3. UAE Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3.3. South Africa
- 6.6.3.3.1. South Africa Silicone elastomers market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3.3.2. South Africa Silicone elastomers market estimates and forecasts, by Product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3.3.3. South Africa Silicone elastomers market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Their Impact Analysis, by Key Market Participants
- 7.2. Key Company/Competition Categorization
- 7.3. Participant's Overview
- 7.3.1. China National BlueStar (Group) Co., Ltd.
- 7.3.2. Dow Corning Corporation
- 7.3.3. KCC Corporation
- 7.3.4. Mesgo S.P.A.
- 7.3.5. Momentive Performance Materials Inc.
- 7.3.6. Shin-Etsu Chemical Co., Ltd.
- 7.3.7. Reiss Manufacturing Inc.
- 7.3.8. Wacker Chemie AG
- 7.3.9. Stockwell Elastomerics
- 7.3.10. Specialty Silicone Products, Inc.
- 7.4. Financial Performance
- 7.5. Product Benchmarking
- 7.6. Company Heat Map Analysis
- 7.7. Company Market Share Analysis, 2023
- 7.8. Strategy Mapping
- 7.9. Strategic Framework
- 7.9.1. Expansion
- 7.9.2. Mergers & Acquisitions
- 7.9.3. Collaborations
- 7.9.4. New Facility/Product Launches
- 7.9.5. Others