Global Silicone in Heavy Machinery Market to Reach US$ 2.3 Billion by 2032, Fostered by Rising Demand in Automotive Industry

April 11, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled "Silicone in Heavy Machinery Market by Product Type (Elastomer, Fluid Silicone, and Others), Application (Transformer, Switchgears), and Region 2024-2032," the global silicone in heavy machinery market size reached US$ 1.4 Billion in 2023. Silicone is a type of synthetic material utilized in heavy-duty electrical machinery. It is known for its high-performance characteristics and is available in various forms, such as silicone fluids, reactive silanes, and polymers. It is extensively utilized in the form of resin, and elastomers, including adhesives and sealants, gels, and fluids. It is a versatile material that can withstand high temperatures, harsh environments, and extreme conditions. It is regarded as an excellent sealant, which helps to prevent leaks and improve the overall performance of heavy machinery conditions. Due to its ability to resist extreme temperatures, it is ideal for use in engine components, hydraulic systems, and other machinery parts that are exposed to high heat. It also has resistance to chemicals and UV radiation since it does not degrade or break down when exposed to these elements, which helps to extend the lifespan of machinery components. As a result, it can be used to seal gaps between parts, prevent dust and debris from entering machinery, and provide a barrier against moisture and other environmental factors. 

Global Silicone in Heavy Machinery Market Trends:

The widespread adoption of silicon in the automotive industry for reducing automobile weight and improving fuel efficiency is driving the global market. Along with this, the increasing demand for silicone elastomer in cables and insulators used in heavy machineries, such as switch gears and transformers, is catalyzing the overall demand. In line with this, the wide utilization of liquid silicone rubber in various high-voltage applications in power stations is acting as another growth-inducing factor. Furthermore, the growing demand for energy-efficient machinery is significantly fostering the market as silicon-based components are used in energy-efficient motors, variable frequency drives, and power electronics, which can help reduce energy consumption in heavy machinery. Additionally, the shift towards renewable energy sources, such as wind and solar, is fuelling the demand for silicon in heavy machinery as silicon-based components are used in the power electronics that control and convert the energy generated by these renewable sources into usable electricity. Moreover, several major companies are focusing on developing new products in various industries that aid in thermal stability, durability, flexibility, and electrical conductivity and offer properties such as flame retardant, UV, and radiation resistance, steam resistant, and metal adhesion, thus providing a boost to the market. Other factors, including increasing demand for liquid silicone rubber, widespread utilization of elastomer, and extensive research and development (R&D) activities, are projected to propel the market further. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032. 

Market Summary:

  • On the basis of the product type, the market has been divided into elastomer, fluid silicone, and others. Currently, elastomers represents the largest market segment.
  • Based on the application, the market has been segmented into transformer and switchgears. Among these, switchgear exhibits a clear dominance in the market.
  • On the basis of the regional insights, the market has been categorized into North America (the United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, Asia Pacific holds the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Avantor Inc., Clearco Products Co. Inc., Dow Inc., Elkem Silicones (China National Bluestar (group) Co, Ltd), Gelest Inc. (Mitsubishi Chemical Holdings Corporation), KCC Silicone Corporation, Shin-Etsu Chemical Co. Ltd., Wacker Chemie AG.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Product Types Covered Elastomer, Fluid Silicone, Others
Applications Covered Transformer, Switchgears
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Avantor Inc., Clearco Products Co. Inc., Dow Inc., Elkem Silicones (China National Bluestar (group) Co, Ltd), Gelest Inc. (Mitsubishi Chemical Holdings Corporation), KCC Silicone Corporation, Shin-Etsu Chemical Co. Ltd., Wacker Chemie AG, etc.
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Global Silicone in Heavy Machinery Market to Reach US$ 2.3 Billion by 2032, Fostered by Rising Demand in Automotive Industry
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