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The Silicone Elastomers Market size is estimated to grow by USD 3.20 billion at a CAGR of 5.9% between 2023 and 2028. The growth of the market depends on several factors including the increasing demand for hip and knee implants, the growing demand for lightweight materials, and the superior properties of silicone elastomers. These elastomers boast outstanding tear resistance, durability, thermal resistance, ozone and UV resistance, and flame retardancy, rendering them indispensable across numerous sectors including automotive, construction, consumer goods, and healthcare. Particularly in medical contexts, silicone elastomers find utility in implants, drug delivery systems, and wearable devices owing to their permeability and long-lasting nature.
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The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market share growth by the HTV segment will be significant during the forecast period.HTV silicone elastomers accounted for the largest share of the market. These are long-chain elastomers with vinyl groups and are filled with precipitated or fumed silica along with other additives. These resulting compounds with significant properties are mixed with catalysts and cured at a high temperature of 212°F-392°F.
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The HTV segment showed a gradual increase in market share with USD 4.59 billion in 2018. The demand for HTV from major high-temperature applications, such as gaskets and vibration dampers in the automotive, industrial machinery, electronics and electrical, and other end-user industries, is growing. This is mainly due to their advantages such as good mechanical, electrical and chemical properties, water-repellent nature, weather, heat and cold resistance, and easy application of colour. Automobile production in developing countries is increasing year-over-year due to higher disposable incomes and rapid urbanization. The increasing demand for high-performance vehicles has elevated the demand from automobile manufacturers. In addition, the other end-user segments of HTV are growing in developing economies. Therefore, these factors are expected to fuel the demand for HTV during the forecast period. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.
The end user segment represents five categories: construction, automotive, electrical and electronics, consumer goods, and others. The construction industry is the dominant end-user of the global market. They are used as sealants, coatings, and water repellents because of properties such as thermal stability, high permeability, water repellency, UV resistance, and oxidative stability. The growing demand for construction activities in APAC will also foster the demand in the next five years.APAC is the dominant region accounting for approximately 49% of the global construction industry, where the major contribution will be from China, India, and Japan. Therefore, the growing demand for different coatings segments will drive the growth of the construction segment in the market during the forecast period.
APAC is projected to contribute 59% of market growth by 2028. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The aviation industry in APAC is increasing as a result of the increasing transit needs. Moreover, APAC provides countless opportunities for aerospace manufacturers and general aviation. In addition, the growing appetite for the use of aviation is also estimated to triple the fleet size of APAC by 2034, propelling the demand for coatings across the aviation industry in APAC. Such factors are expected to fuel the growth of the market in APAC during the forecast period. The companies of the end-user segments in developed countries are also shifting their facilities to APAC due to the easy availability of land, cost-effective workforce, strategic location, accessibility, strong power grid, reliable transport infrastructure, and lenient regulations and norms for chemicals and plastics. Therefore, the growing opportunities from various end-user industries in APAC aided by industry-specific government initiatives such as Make in India, foreign direct investments (FDIs), easy seed funding, and loans are expected to fuel the growth of end-user industries, which, in turn, will drive the growth of the market in APAC during the forecast period.
Silicone elastomers, a type of silicone rubber, are in high demand due to their unique properties, such as high temperature resistance, flexibility, and excellent electrical insulation. The market is witnessing significant growth, driven by the expansion of industries such as electrical & electronics, automotive, and optical. Population growth, industrialization, and urbanization are key factors fueling the demand for silicone elastomers. In the electrical & electronics industry, silicone elastomers are used extensively in various applications, including encapsulation, gaskets, and seals. In the automotive sector, silicone elastomers are used for making hoses, gaskets, and other automotive parts. The optical industry uses silicone elastomers for producing optical components due to their excellent optical properties. The munitions industry also relies on silicone elastomers for manufacturing various components due to their high resistance to harsh environments. The automotive and transportation industry is increasingly utilizing electric vehicles (EVs), driving demand for specialized components such as medical-grade silicone elastomers and silicone fluids. Innovations in extrusion processes enable the production of tubing rods and preforms that are essential for various applications, including wire insulation in the electric and electronics industry. Furthermore, silicone elastomer manufacturers leverage the unique properties of silicone elastomers, including radiation resistance and steam resistance, to meet the specific needs of sectors like healthcare applications and the industrial machinery industry. Rebates and exemptions in the industry also support the transition to sustainable materials, while platinum catalyzation is critical in enhancing the performance of silicone metal and petrochemical products.
The Market is experiencing significant growth driven by its superior properties compared to substitutes. Silicone elastomers offer excellent tear resistance, durability, thermal resistance, ozone and UV resistance, and flame retardancy, making them invaluable in various industries like automotive, construction, consumer goods, and healthcare. In medical applications, silicone elastomers are used in implants, drug delivery systems, and wearable devices due to their permeability and durability.
Furthermore, they are also widely accepted by the body, making them suitable as wound seal covers. The orthopedic implant market, particularly spinal implants, has contributed to market growth, along with the increasing use of medical tubing in drug delivery. With diverse applications and unique properties, silicone elastomers play a vital role across multiple sectors.
The use of antimicrobial silicone elastomers will fuel the global market growth. Antimicrobials are used on surfaces and in medical applications, such as tubing for catheters to prevent bacterial growth. The growth of microbes will cause a strong odor, discoloration, and mildew formation. These antimicrobials are silver ion-based, thereby making them versatile and adaptable to a wide range of applications.
Furthermore, they are widely used in healthcare and medical devices, beverage manufacturing, pet food production, food processing and foodstuff production, and agricultural activities. As per the US FDA's regulations, antimicrobials are used in the food industry for various applications such as food processing, vending tubing, dairy, breweries, and antimicrobial belting. For instance, Silicone Engineering offers various antimicrobial products under the 'suraSil' brand name. All these factors will result in the growth of the market during the forecast period.
Stringent clinical and regulatory policies will impede the overall market growth. Biocompatible silicone elastomer products are used in critical healthcare-related and medical applications. So, it is mandatory for healthcare providers to follow both pre-market and post-market evaluations of medical devices used in healthcare. The regulatory bodies in the European Union and the US have taken several initiatives to streamline clinical policies and reforms.
Furthermore, the European Union has formulated regulations to monitor the safety and performance of medical devices used in clinical settings. For instance, the Active Implantable Medical Devices Directive (Directive 90/385/EEC) regulates high-risk medical devices, such as pacemakers and deep brain stimulation devices. Likewise, the In-vitro Diagnostic Directive (Directive 98/79/EC) relates to in-vitro devices. These stringent regulations and clinical policies formulated pose a challenge to manufacturers with regards to demonstrating and documenting their compliance.
The market research report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bentec Medical - The company offers silicone elastomers that are used in the manufacturing of tubes, which are later used in a variety of surgical procedures.
The market report also includes detailed analyses of the competitive landscape and information about 15 market players, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Silicone elastomers, a crucial class of polymers, exhibit exceptional properties such as antimicrobial characteristics, extreme temperature resistance, oil resistance, electrical conductivity, and flame retardance. These elastomers find extensive applications in various industries, including automotive & transportation, consumer goods, electrical & electronics, industrial machinery, healthcare, and optical. Antimicrobial silicone elastomers, infused with biocides, offer protection against bacteria and microorganisms, making them ideal for medical-grade applications. The automotive industry utilizes silicone elastomers in gaskets, cable insulation, and other components due to their biocompatibility and resistance to extreme temperatures. In the electrical & electronics industry, they are employed in the production of LSR & HCR grades for various applications.
Furthermore, the consumer goods industry uses silicone elastomers in the manufacturing of various products due to their excellent flexibility and durability. The production process for silicone elastomers includes methods such as compression molding, extrusion, and injection molding. Crude oil and methanol are the primary raw materials used in the production of silicone elastomers. Fluoro-silicone rubber, a type of silicone elastomer, offers additional benefits such as oil resistance and chemical inertness, making it suitable for use in the munitions industry. Raw material producers play a crucial role in the supply chain for automotive vehicles, providing essential components like liquid silicone rubber and HCR/HTV (high-consistency rubber) that enhance the performance and durability of automotive parts. Organic peroxides are used as curing agents in the silicone elastomer manufacturing process. The market is expected to grow significantly due to the increasing industrialization and the demand for high-performance materials in various industries.
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Market Scope |
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Report Coverage |
Details |
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Page number |
189 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.9% |
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Market growth 2024-2028 |
USD 3.20 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.5 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 59% |
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Key countries |
China, US, Japan, Germany, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Avantor Inc., Bentec Medical, CHT Germany GmbH, Continental AG, Dow Inc., DuPont de Nemours Inc., Elkem ASA, HEXPOL AB, J M Huber Corp., KCC Co. Ltd., Momentive Performance Materials Inc., REISS MANUFACTURING Inc., Rogers Corp., Shin Etsu Chemical Co. Ltd., Specialty Silicone Products Inc., Stockwell Elastomerics Inc., URM, and Wacker Chemie AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Market Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for Market forecast period |
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Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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