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Silicone elastomer market forecast to reach $9.2 billion by 2023​
Editor:Lisa Tan  Post Time:2017-06-26  Click:

Silicone elastomer market forecast to reach $9.2 billion by 2023

Hunan Yixiang Technology has a history of more than 20 years, and we are specialized in producing organic peroxides, such as BIPB(Cas NO.:25155-25-3), DHBP(Cas NO.:78-63-7), TMCH(Cas NO.:6731-36-8), co-crosslinking agent TAIC(Cas NO.:1025-15-6) and flame retardent TBC(Cas NO.:52434-90-9).We have fully finished REACH registration for BIPB and TAIC and maderegistration for TBC.

The silicone elastomer market was valued at $6,378 million in 2016, and is projected to reach $9,217 million by 2023, growing at a CAGR of 5.4 percent from 2017 to 2023, according to the lastest market report from BigMarketResearch.com. Silicone elastomer is an elastic material that consists of silicon, carbon, hydrogen and oxygen, along with fillers. It is available in various forms including open cell foams, solids and closed cell sponges, coupled with thermally and electrically conductive elastomers. It is popularly used in cooking, baking and food storage products, undergarments, sportswear and footwear due to its versatility and ease in shaping as well as manufacturing. Owing to its high dielectric strength, heat stability and good mechanical strength, it is used in electronics, medical devices and hardware to develop spark plug boots, ignition cables, door seals and hoses. In addition, it is used in mold making, electrocasting, pad printing, industrial bonding and sealing. Silicone elastomers are more efficient and superior than natural rubbers; thus, they can be utilized as a substitute for the latter. Increase in adoption in medical, automotive and healthcare industries boosts the demand for silicon rubber in the global market. Developments and rise in demand in the automotive industry are expected to provide potential opportunities for expansion. Change in lifestyle and increased disposable income of consumers in Asia-Pacific and LAMEA have led to growth of consumer electrical and electronics, healthcare and medical device industries, leading to high market potential for silicone elastomers. Growth in population and rise in urbanization in emerging economies, such as India and China, have accelerated the construction activities and automobile production, thus driving the market growth. However, fluctuation in raw material prices may serve as a significant limitation to this growth. Research and development on antimicrobial silicone elastomers and projected growth in automobile industry represent numerous opportunities for the market. The report segments the global silicone elastomer market based on type, application and geography. The product segment includes liquid silicone rubber, high consistency rubber, fluorosilicone rubber, and others, which consists of different types of room temperature vulcanized silicone elastomers (RTVs). By application, the market is categorized into automotive, healthcare, electronics, apparel, medical devices, home repair and hardware, construction, and other industries (baby care, cosmetics, optics, food, and more). Geographically, it is analyzed across North America, Europe, Asia-Pacific and LAMEA. In 2015, Asia-Pacific accounted for the largest volume share of the market, owing to emergence of China as the key contributor in the manufacture and consumption of silicone elastomers, and it is expected to maintain its dominance during the forecast period as well. A recent finding by a Carnegie Mellon University team in February 2017 explains the significance of adding a liquid metal to silicone elastomer, which can create a rubbery heatsink, nicknamed as “thubber.” The high thermal conductivity and elasticity of thubber is meant for rapid heat dissipation in wearable computing and soft robotics applications requiring mechanical compliance and stretchable functionality. 

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