(EMAILWIRE.COM, September 04, 2018 ) Industry Trend Analysis

In 2014, the global silicone elastomers market was evaluated around USD 5.02 billion and is expected to reach approximately USD 8.73 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 6.34% over the forecast period. Technological innovations in products based on encouraging mechanical and chemical properties are expected to boost the global market for the approaching years. Population statistics in Japan, China, Germany, and the U.S. is anticipated to detect significant geriatric population in comparison with the emerging regions. The desire to stay presentable yet at old age is expected to boost the cosmetic surgery industry, which will consecutively influence the growth of silicone elastomers market positively. Advanced properties of elastomers involving tear resistance, low surface friction, self-adhesive nature, and thermal resistance make its products extremely precious for different applications like automotive, industrial, consumer goods, medical, healthcare, electrical & electronics, and construction segments. R&D initiatives by market players to develop robust products that have a wide application base are anticipated to generate massive growth opportunities for market participants.

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Product Outlook and Trend Analysis

In 2015, high temperature vulcanize (HTV) appeared as the major product segment concerning volume and reported for around 59% of the total demand. Rising demand in the major end-user industries like electrical & electronics and automotive, particularly in emerging regions, is anticipated to be a major fueling factor for the product segment. Room temperature vulcanize (RTV) is projected to grow at the highest compound annual growth rate over the forecast period. This product is utilized frequently in low-temperature applications like sealing, bonding, over-molding, lens, and manufacturing other molds in healthcare, electrical & electronics, construction, medical industries. Liquid silicone rubber (LSR) is anticipated to achieve market share during the next few years. Rising demand in different applications like injection molding that is dominant over multiple end-user industries like furniture, toys, storage containers, medical equipment, packaging, housewares, musical instruments, consumer goods, and automotive may be assigned to the elevated growth of this product section.

Application Outlook and Trend Analysis

Rising disposable earnings due to growing countries in Asia Pacific is expected to boost the expansion of automotive & transportation segment over the projected period. In 2015, demand in construction segment reported for around 43.9% and is expected to be the leading segment during the next few years. Increasing construction expenditure in developing countries like Brazil, India, and China is expected to positively influence the industry demand. Rising product demand in electronics & electrical market is anticipated to boost market share by 0.32% during the next few years. This rise can be assigned to strong demand and increasing industrialization & urbanization.

Regional Outlook and Trend Analysis

In 2015, Asia Pacific regional silicone elastomers market reported for around 51.3% of the global market revenue. Construction expenditure in Indonesia, Malaysia, South Korea, Vietnam, India, and China is anticipated to encourage the regional market demand. Asia Pacific region is projected to experience high automotive and electrical & electronics due to increasing disposable earnings and rising population, thus assisting the regional silicone elastomers industry. The European regional market is anticipated to grow at a compound annual growth rate of 6.2% throughout the forecast years. Rising automotive technological center in Germany is expected to fuel the industry demand. Other nations including France, Italy, and the UK show considerable growth during the forecast period. North American regional market demand is expected to drive at a compound annual growth rate of 4.3% over the projected period. Rising popularity of the cosmetic surgical procedure and geriatric population in the United States is expected to influence the regional demand positively.

Competitive Outlook and Trend Analysis

The global silicone elastomers market shows monopoly nature and is distinguished by regular mergers & acquisitions. Market players are involved in extensive R&D to enhance their product range and reinforce their market presence. Key market participants in the global silicone elastomers market are Wacker Chemie AG, Dow Corning Corporation, KCC Corporation, Momentive Performance Materials Inc., Shin-Etsu Chemical Co. Ltd. ICM Products Group, Elkem AS, Mesgo S.p.A., Reiss Manufacturing, Inc., Specialty Silicone Products Inc., Allergan, Arlon Silicone Technologies, ELMET, ContiTech AG, Marsh Bellofram, Bentec Medical Incorporated, AkzoNobel, Sigmasoft Engineering GmbH, Momentive, Rogers Corporation, and Saint-Gobain SA.

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The global silicone elastomers market is segmented as follows –

By Product
High Temperature Vulcanize (HTV)
Room Temperature Vulcanize (RTV)
Liquid Silicone Rubber (LSR)

By Application
Electrical & Electronics
Automotive & Transportation
Industrial Machinery
Consumer Goods
Construction
Others

By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others

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Some of the key questions answered by the report are:
· What was the market size in 2014 and forecast from 2014 to 2023?
· What will be the industry market growth from 2014 to 2023?
· What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
· What are the major segments leading the market growth and why?
· Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

Contact Information:
Qurate Business Intelligence
Nehal Chinoy
Tel: +919881074592
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