Silicone Elastomers Market Size, Share | Report 2022-2030
The global silicone elastomers market was valued at USD 5.4 billion in 2021 and it is predicted to surpass around USD 12.87 billion by 2030 with a CAGR of 10.13% from 2022 to 2030.
Report Highlights
The growing population, rising disposable income, and rapid industrialization and urbanization in the developing regions are some of the key factors that are presumed to drive the regional markets. R&D initiatives to develop superior-quality robust products that have a wide application base across diverse industries offer ample opportunities for market development.
A surge in demand for properties such as extended lifetime, efficient performance over a wide range of temperatures, low toxicity, low flammability, low smoke density, inertness to chemicals & solvents, oil & fuel resistance, and high productivity is anticipated to be beneficial for the overall market advancement. The increasing scope of silicone elastomers in the healthcare industry is expected to have a positive impact on the market.
Some of the notable applications of silicone elastomers in the medical industry include catheters, tubing, medical cables, seals & gaskets, membranes, O-rings, valves, respiratory care applications, anesthetic masks, medical instruments & equipment, and medical textile coatings. Such a wide range of applications is touted to create ample opportunities for the silicone elastomers industry in the coming years.
The market for silicone elastomers has been classified into three segments, on the basis of product, application, and region. Major silicone elastomer products include high-temperature vulcanize (HTV), room temperature vulcanize (RTV), and liquid silicone rubber (LSR). HTV has dominated the market demand in the last few years. Room temperature vulcanize is slated to witness the highest growth rate during the forecast period.
Some of the prominent applications of silicone elastomers include electrical & electronics, automotive & transportation, industrial machinery, consumer goods, and construction, among others. The construction application segment dominated the global market in 2021, ahead of the automotive, and electrical & electronics segments. Other applications such as medical & healthcare and cosmetics are anticipated to experience the highest CAGR during the forecast period.
Regionally, the market has been segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North America occupied a significant market share in the recent past. However, this region, along with Western Europe, is expected to lose substantial market share and witness sluggish growth in the next seven years. Emerging markets such as the Asia Pacific are touted to witness the highest demand in the near future. Economies such as China, India, and Southeast Asian countries are projected to lead the regional market.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 5.4 billion |
| Revenue Forecast by 2030 | USD 12.87 billion |
| Growth rate from 2022 to 2030 | CAGR of 10.13% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Product, application, region |
| Companies Covered |
China National BlueStar (Group) Co., Ltd.; Dow Corning Corporation; KCC Corporation; Mesgo S.P.A.; Momentive Performance Materials Inc.; Shin-Etsu Chemical Co., Ltd.; Reiss Manufacturing Inc.; Wacker Chemie AG; Zhejiang Xinan Chemical Industrial Group Co., Ltd.; Stockwell Elastomerics; Specialty Silicone Products, Inc. |
Product Insights
The LSR product segment led the market and accounted for more than 61.18% revenue share in 2021. Major silicone elastomer products include high-temperature vulcanize (HTV), room temperature vulcanize (RTV), and liquid silicone rubber (LSR). HTV emerged as a leading product segment and accounted for a substantial share of the overall market in the recent past. Growing demand in major end-use industries, especially in developing regions, is expected to be a key driving factor for the silicone elastomers industry growth over the next few years.
Silicone can be manifested in various other forms such as adhesives, sealants, coatings, oils, lubricants, and resins. These materials can be tailored to specific performance requirements. Silicone HTV elastomers can withstand prolonged exposures to higher temperatures. A major LSR application is injection molding, which is prevalent across multiple end-use industries such as automotive, medical equipment, toys, packaging, musical instruments, housewares, consumer goods, storage containers, and furniture.
Physical properties such as resilience, heat resistivity, flexibility, water-repelling capacity, insulation, and high tear strength over other elastomers are anticipated to boost the global demand. Growing population, rising disposable income, and rapid industrialization and urbanization in the developing regions are key factors that are presumed to drive the regional markets.
Application Insights
The construction application segment led the market and accounted for more than 43.6% revenue share in 2021. Silicone elastomers follow silicone fluids in terms of leading the global market share for silicone. A wide range of applications across industries such as electronics & electrical, automotive & transportation, industrial machinery, consumer goods, construction, and others is anticipated to boost the overall market.
This can be attributed to the inherent qualities such as inertness, high permeability, easy processing, and low toxicity, which make silicone elastomers a leading choice for multiple applications across several industries. The construction application segment dominated the global market and is set to continue this dominance in the coming years. The growing global population is expected to put ample pressure on the healthcare industry. Along with a rise in population, the growing aged population in developed countries is expected to further benefit the overall market.
Silicone elastomers are used in the industry for manufacturing catheters, medical cables, tubing, anesthetic masks, seals & gaskets, valves, respiratory care applications, medical textile coatings, and medical instruments & equipment. Such wide usage is expected to have a very positive influence on the overall market demand.
Regional Insights
The Asia Pacific led the market and accounted for more than 51.5% of the revenue share in 2021, ahead of Europe and North America. Market shares of developed regions such as North America and Europe are poised to decrease owing to end-use industry saturation. Developing markets such as the Asia Pacific and Middle East & Africa are projected to experience brisk growth in areas such as automotive, construction, healthcare, consumer goods, and electrical & electronics. Robust demand from these industries is projected to fuel the regional market for silicone elastomers.
Several key factors such as strong demand in the end-use industries owing to rapid industrialization & urbanization, and increasing disposable income giving rise to higher consumer goods & automotive demand, are slated to play a key role in shaping the regional as well as global silicone elastomers industry. Government initiatives encouraging infrastructure development, especially in the developing markets, are slated to further complement the regional growth.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Silicone Elastomers Market
5.1. COVID-19 Landscape: Silicone Elastomers Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Silicone Elastomers Market, By Product
8.1. Silicone Elastomers Market, by Product, 2022-2030
8.1.1. HTV
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. RTV
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. LSR
8.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Silicone Elastomers Market, By Application
9.1. Silicone Elastomers Market, by Application, 2022-2030
9.1.1. Electrical & Electronics
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Automotive & Transportation
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Industrial Machinery
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.3. Consumer Goods
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.3. Construction
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.3. Others
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Silicone Elastomers Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 11. Company Profiles
11.1. China National BlueStar (Group) Co., Ltd.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Dow Corning Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. KCC Corporation
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Mesgo S.P.A.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Momentive Performance Materials Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Shin-Etsu Chemical Co., Ltd.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Reiss Manufacturing Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Wacker Chemie AG
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Zhejiang Xinan Chemical Industrial Group Co., Ltd.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Stockwell Elastomerics
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers