Silicone Elastomers Market Size, Share, Outlook, and Opportunity Analysis, 2022–2028

Silicone Elastomers Market

Silicone Elastomers Market - Size, Share, Outlook, and Opportunity Analysis, 2022-2028.

Market Overview:

Silicone elastomer is a soft, flexible material that offers high stretchability, resistance to a wide range of environmental conditions, and chemical stability. Often used as a sealant or adhesive, it is also a popular component in industrial and architectural lighting. It is also an important material for medical devices, including stretchable electronics and soft actuators. A silicone elastomer membrane can be a biocompatible support film or permeation membrane for drug release testing. In addition to its high resistance to a wide variety of corrosive chemicals, silicone elastomers offer excellent mechanical and electrical properties. Silicone elastomers are often reinforced with mineral fillers or a combination of fillers and reinforcing agents. The resulting elastomers can be made with different crosslinking methods, which can help to improve their softness, tensile strength, and ultimate extensibility.  Silicone elastomers are usually cured to give them their final properties. Some silicone elastomers can be cured in a relatively short period. An alkoxy cure system is commonly used for low-consistency elastomers. The hydroxyl-terminated polymer is combined with a tetraalkoxysilane crosslinker to provide the desired elasticity. This process generally requires a minimum of seven days to complete. Other systems, such as those based on condensation crosslinking reactions, can be used to meet processing requirements.

The Global Silicone Elastomers Market Size Is Projected To Cross US$ 9,200 Million By 2023, And Register A CAGR Of 5.6% Over The Forecast Period (2019 -2027).

Competitive Landscape:

Major players operating in the Global Silicone Elastomers Market include CHT Germany GmbH, Reiss Manufacturing Inc., China National Bluestar (Group) Co., Shin-Etsu Chemical Co., Ltd, Momentive Performance Materials Inc., Wacker Chemie AG, and Dow Inc.

Key Market Drivers:

Increasing developments in the global silicone elastomers market are expected to augment the growth of the market. For instance, in For instance, in January 2021, Momentive Performance Materials, Inc. acquired KCC Corporation’s Silicones business in the UK and South Korea. Typical applications for silicone elastomers include sealing, electrical insulation, printing, and gaskets. Silicone elastomers are used in various medical applications, including latex catheters and skin care products. They are also great insulators for power lines. These compounds are easy to dispense and are suitable for long-term implants. There are also many types of silicone elastomers available, making it a very versatile material for use in a wide variety of applications. Moreover, the high usage of elastomers in several end-use sectors is estimated to enhance the growth of the Global Silicone Elastomers Market.

Covid-19 Impact Analysis

During the COVID-19 pandemic, the global silicone elastomers market witnessed several challenges, owing to the disruptions in several end-use sectors. Moreover, lockdown measures and transport restrictions impacted the demand and supply demographics of the market.

Key Takeaways

·   North America Is Expected To Dominate The Growth Of The Global Silicone Elastomers market, owing to the high rate of developments by several companies in the market worldwide. For instance, in March 2021, Dow Inc. introduced the first low-density liquid silicone rubber (LSR), meant for injection molding to formulators and brand owners.

·   Europe is estimated to witness high growth in the Global Silicone Elastomers Market, owing to the increasing acquisitions by key players in the region. For instance, in October 2021, Wacker Chemie AG acquired a 60% share in a Chinese specialty silicone manufacturer, in order to strengthen the company's silicone business.