Silicone Rubber Market Information by Type (Liquid Silicone Rubber, High Consistency Rubber and Fluorosilicone Rubber), Application (Automotive, Medical, Electronics, Construction, Footwear, Consumer Goods and Sportswear) and Region – Forecast till 2023
Silicone rubber, an elastomeric material is inert, stable, highly resistant to the extreme work environments. Moreover, some of the other substantial properties exhibited by the silicone rubber such as the high withstand ability for a broader range of temperature (75°F to 500°F) as compared to nearly all other elastomers, high wear and tear strength, great elongation, and high flexibility makes it an ideal component for a range of applications in automotive and construction industry.
Additionally, the highly non-conductive, silicone rubbers maintain greater dielectric strength and resistance to water, oxidation, various acids, solvents, oils, and fuels which make them ideal for the use in electronics materials. The silicone rubber products are widely used in almost all the rapidly growing industries such as automotive, construction and electronics. The augmented use in some of the burgeoning industries consecutively escalates the market on the global platform.
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Top Key Players:
- KCC CORPORATION
- CHT Group
- Elkem Silicones
- MESGO S.p.A.
- Wacker Chemie AG
- Reiss Manufacturing, Inc.
- Shin-Etsu Chemical Co.
- SIMTEC Silicone Parts
Global Silicone Rubber Market Competitive Analysis:
Highly competitive, the silicone rubber market appears to be fragmented due to the presence of many large and small-scale players. To sustain their positions in the market, these players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and technology launch.
Manufacturers operating in the silicone rubber market strive to deliver the best quality products based on innovative technologies, and best practices. The high growth potential the market demonstrates is expected to attract many entrants to the market resulting in intensifying the competition further
Global Silicone Rubber Market Regional Analysis
The Asia Pacific region, heading with the burgeoning automotive industry, is expected to continue to lead the global silicone rubber market. Moreover, rapidly growing markets in the APAC region, such as medical devices, consumer goods, electronics, construction, and footwear are providing impetus to the growth of the regional markets. Increasing infrastructure development activities mainly in India & China are contributing a great deal to the regional market, accelerating the use of silicone-based bearing pads.
The ample availability of cost-competitive logistic such as workforce, land, and the raw materials required for the production of paraxylene is a key force attracting several foreign investors. Resultantly, many key players from the developed regions such as North America and Europe are increasingly shifting their prominent manufacturing bases to China and India. This, as a result, is likely to foster the market growth in the APAC over the forecasted period.
The silicon rubber market in the North American region accounts for the second largest market, globally, following the APAC market closely. Increasing reconstruction activities and growing demand for the product in the automotive industry are driving the growth of the regional market. The region is expected to witness a noteworthy growth due to the high consumption potential of the product in various industries, increasing production capacities, and high economic growth rate.
The US, backed by the increasing industrialization accounts for a significant contributor to the growth of the regional market and is expected to account for phenomenal accruals, witnessing a considerable demand during the forecast period, 2018 to 2023.
Industry/ Innovation/ Related News:
January 30, 2019 – The Dow Chemical Company (the US), a global leader in silicone elastomer science, ECCO (Denmark), a shoe designer, manufacturer, and retailer, Dassault Systèmes (France), a software company announced the launch of the QUANT-U footwear customization project across the Asia Pacific region.
An experimental footwear customization project – QUANT-U is a brain child of the Innovation Lab (ILE) of ECCO’s independent cross-disciplinary design studio. QUANT-U is creating a new paradigm for shoe fit, comfort, and performance. A breakthrough 3D-printable liquid silicone rubber – SILASTIC™ 3D 3335 developed by Dow has played a pivotal role in QUANT-U’s development and success.
The breakthrough material from Dow, Liquid Silicone Rubber (LSR) is specially formulated to combine the performance benefits of silicone elastomers with the design and processing advantages of Liquid Additive Manufacturing (LAM) technology.
Global Silicone Rubber Market Segments
The MRFR analysis of Silicone Rubber is segmented into three key dynamics for enhanced understanding.
By Type : Liquid Silicone Rubber, High Consistency Rubber, and Fluorosilicone Rubber among others.
By Application: Automotive, Medical, Electronics, Construction, Footwear, Consumer Goods and Sportswear among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
- Silicone Rubber manufacturers
- Traders and distributors of Silicone Rubber
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories