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The global silicone elastomers market was valued at US$ 7.9 Billion in 2021.
We expect the global silicone elastomers market to exhibit a CAGR of 6.24% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary halt in numerous production activities for silicone elastomers.
The growing automobile sector, along with the rising adoption of silicone elastomers for fabricating the electrical systems, engine, interiors, and other body parts, is primarily driving the global silicone elastomers market.
Based on the product, the global silicone elastomers market has been segregated into High Temperature Vulcanize (HTV), Room Temperature Vulcanize (RTV), and Liquid Silicone Rubber (LSR). Among these, High Temperature Vulcanize (HTV) currently holds the largest market share.
Based on the application, the global silicone elastomers market can be bifurcated into electrical and electronics, automotive and transportation, industrial machinery, consumer goods, construction, and others. Currently, the automotive and transportation sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global silicone elastomers market include Bentec Medical, China National Bluestar (Group) Co. Ltd., Dow Inc., KCC Corporation, MESGO SpA (Hexpol AB), Momentive Performance Materials Inc., Reiss Manufacturing Inc., Shin-Etsu Chemical Co. Ltd., Specialty Silicone Products Inc. (Heico Corporation), Stockwell Elastomerics Inc., and Wacker Chemie AG.
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