Silicone Elastomers Market worth 7.94 Bn USD by 2021

Tuesday 30 August 2016, Amsterdam

The report, now available on ASDReports, "Silicone Elastomers Market by Type (High Temperature Vulcanized, Room Temperature Vulcanized, and Liquid Silicone Rubber), Process (Extrusion, Liquid Injection Molding, Injection Molding, and Compression Molding), End-use Industry - Global Forecast to 2021", The global market size of silicone elastomers is projected to reach USD 7.94 Billion by 2021, at a CAGR of 6.49% between 2016 and 2021.

The superior properties of silicone ealstomers such as high and low temperature resistance, oil resistance, excellent weatherability, and flame retardancy along with its increasing demand from the healthcare and electrical & electronics end-use industries drives the silicone elastomers market. The demand for silicone elastomers from the automotive & transportation end-use industry drives the market in Asia Pacific.

The market for liquid silicone rubber to grow at the fastest rate

Low viscosity, chemical stability, and electrical resistance makes LSR the preferred silicone elastomer for various applications. The LSR market is projected regiater the highest CAGR of 6.74% during the forecast period due to its high demand from the automotive & transportation and healthcare end-use industries.

Extrusion process accounted for the largest share of the silicone elastomers market

High production rates, short lead time, and per part price variation by complication of extrusion makes it the preferred process. The extrusion process accounted for the largest share of the silicone ealstomers market. The liquid injection molding process accounted for the second-largest share of the market.

Asia-Pacific was the largest silicone elastomers market

Countries such as India and China have high demand of silicone elastomers due to rise in the use of vehicles and increasing number of manufacturing units. Countries such as Japan and South Korea have a well-established automotive & transportation industry. Japan in particular has a highly developed automotive & transporation end-use industry, enabling the country to export its manufactured automobiles to Indonesia.

Key players in the silicone elastomers market

The key players in the silicone elastomers market are Momentive Performance Materials Inc. (U.S.), Wacker Chemie AG (Germany), Dow Corning Corporation (U.S.), Shin-Etsu Chemical (Japan), KCC Corporation (South Korea), China National Bluestar Co. Ltd. (China), Reiss Manufacturing Inc. (U.S.), Messgo S.p.A (Italy), Zhenjian Xinan Chemical Industrial Group Co., Ltd. (China), and Specialty Silicone Products (U.S.).