- Silicone elastomers are also known as silicone elastomerics. They are polymers that have been hardened with chemicals and are silicone-based. The silicone elastomers market is likely to witness around USD 10,642 million by the end of 2019. This growth is attributed to rising demand for silicon elastomers from the application sectors of coatings, industrial insulation and adhesives.
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The factors steering the silicone elastomers market ahead are the superior features of silicon elastomers, increased demand for silicon elastomers from the sector of electronics and rising demand for silicon elastomers owing to growing population of the aged. Silicone elastomers are tasteless, odorless and colorless gel like products. Huge costs involved in the manufacture of silicone elastomers are likely to hinder the market.
The silicone elastomers market can be segregated into three major categories, including types, applications and geographies. The market, on the basis of types, can be split into liquid silicone rubber, high temperature vulcanize and room temperature vulcanize. The silicone elastomers market, on the basis of applications, can be divided into healthcare, consumer goods, industrial machinery, automotive & transportation and electrical & electronics.
Geographically, the silicone elastomers market can be sliced into Asia Pacific, North America, Europe and rest of the world (ROW). Asia Pacific leaded the market in terms of volume and value. It was followed by Europe. China and India were reported to be the largest consumers of the market. This is due to increasing disposable incomes and rapid silicone elastomers market growth in these regions.
North America is projected to grow considerably. This is owing to increasing demand for silicone elastomers from the electronic sector over the forecast period.
Information Source: Grand View Research
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