[FURL=https://www.industryarc.com/Report/11735/silicone-elastomers-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Silicone Elastomers Market[/FURL] Silicone elastomers market size is forecast to reach US$7.1 billion by 2026, after growing at a CAGR of 6.2% during 2021-2026. The industry's rapid expansion is owing to its superior properties such as extreme temperature resistance, excellent environmental resistance, and low compression set, which makes them suitable for application in various end-use industries such as automotive, aerospace, and healthcare. The factors which are primarily driving the demand for silicone elastomers such as polysiloxane, liquid silicone rubber, fluorosilicone rubber are increasing demand for packaging materials, as well as the increasing manufacturing of aircraft.Key Takeaways
Asia-Pacific dominates the silicone elastomers market, owing to the increasing electrical & electronics industry in the region, which is accelerating the demand for halogen free flame retardants. According to Invest India, the domestic electronics market in India to attain US$400 billion by 2025.
The usage of silicone elastomers such as polysiloxane, liquid silicone rubber, fluorosilicone rubber, and more is growing in the electronics industry due to its increasing use in LEDs, gaskets, rollers, and other consumer electronics.
The developing electrical and electronics industry, along with rising demand for consumer electronics such as cellphones, televisions, household appliances, and wearable electronic gadgets, is likely to provide profitable prospects for silicone elastomers market players.
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Silicone Elastomers Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the silicone elastomers market in 2020 up to 34%, owing to the increasing automotive production in the region, which is accelerating the demand for silicone elastomers in the region. Silicone elastomers are often used in automotive components owing to their extensive properties such as high thermal stability, low compression set without post-cure, self-lubricating properties, low viscosity, fast cure, low modulus, increased crack resistance, outstanding resistance to aging, and more. The production of automobiles is increasing in Asia-Pacific countries such as Japan, Malaysia, India, and Taiwan.
Silicone Elastomers Market – Drivers
Expanding Construction Sector
Growing Government Expenditure is Bolstering the Medical & Healthcare Sector
Silicone Elastomers Market Landscape
Silicone Elastomers market top companies are Dow Corning, Wacker Chemie, Momentive Performance Materials, Shin-Etsu, China National Bluestar Silicone, KCC Corporation, Reiss Manufacturing, Mesgo SpA, Zhejiang Xinan Chemical Industrial Group Co. Ltd., and Specialty Silicone Products.
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