The global silicone in heavy machinery market size reached US$ 1.35 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.93 Billion by 2028, exhibiting a growth rate (CAGR) of 6.02% during 2023-2028. The increasing demand for liquid silicone rubber, widespread product adoption in the automotive industry, and various product innovations represent some of the key factors driving the market.
Silicone in heavy machinery refers to high-performance synthetic material used in heavy electrical machinery in the form of reactive silanes, silicone fluids, and polymers. It is widely used in the form of resin, elastomers (adhesives, sealants), gels, and fluids. Elastomers and liquid silicone rubber are some of the common types of silicone in heavy machinery. An elastomer refers to long-chain polymers of carbon, hydrogen, oxygen, and silicon that offers viscosity and elasticity properties, and the molecules are held together by weak intermolecular forces. It is commonly used in transformers and switchgear. Silicone in heavy machinery exhibits low thermal conductivity, chemical reactivity, and electrically insulative and conductive properties.
Silicone in Heavy Machinery Market Trends:
The widespread product adoption in the automotive industry for reducing automobile weight and improving fuel efficiency is one of the key factors driving the market growth. In addition to this, the increasing demand for silicone elastomer in cables and insulators used in heavy machinery, such as switch gears and transformers, is favoring the market growth. Silicone in heavy machinery provides protection against airborne particles, including salt spray and ocean fog owing to its high-water resistance property, which is acting as another growth-inducing factor. Apart from this, the introduction of silicone sealant manufactured using renewable raw materials is proving an impetus to the market growth. This is primarily because the manufacturing process uses unique bio-based methanol obtained from certified sustainable sources. In line with this, manufacturers 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, steam resistant, UV and radiation resistance, and metal adhesion, which in turn is positively influencing the market growth. Furthermore, the increasing product utilization in the aerospace industry to absorb vibrations and provide lubrication of moving parts is propelling the market growth. Additionally, the widespread product utilization in wind turbine blades and tower sections, due to its long-lasting, adhesive, and sealing qualities for lubrication, thermal interference, and sealing, is creating a positive outlook for the market. Other factors, including the rising expenditure capacities of consumers, the increasing demand for liquid silicone rubber, widespread utilization of elastomer, and extensive research and development (R&D) activities, are anticipated to drive the market growth further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global silicone in heavy machinery market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on product type and application.
Product Type Insights:
- Fluid Silicone
The report has provided a detailed breakup and analysis of the silicone in heavy machinery market based on the product type. This includes elastomer, fluid silicone, and others. According to the report, elastomer represented the largest segment.
The report has provided a detailed breakup and analysis of the silicone in heavy machinery market based on the application. This includes transformer and switchgears. According to the report, switchgears represented the largest segment.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, Asia Pacific was the largest market for silicone in heavy machinery. Some of the factors driving the Asia Pacific silicone in heavy machinery market included the increasing demand for liquid silicone rubber, the widespread utilization of silicone in heavy machinery in the automotive industry, and extensive research and development (R&D) activities.
The report has also provided a comprehensive analysis of the competitive landscape in the global silicone in heavy machinery market. Detailed profiles of all major companies have also been provided. Some of the companies covered 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, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Product Types Covered
||Elastomer, Fluid Silicone, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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Key Questions Answered in This Report:
- How has the global silicone in heavy machinery market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global silicone in heavy machinery market?
- What are the key regional markets?
- Which countries represent the most attractive silicone in heavy machinery markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the application?
- What is the competitive structure of the global silicone in heavy machinery market?
- Who are the key players/companies in the global silicone in heavy machinery market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the silicone in heavy machinery market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global silicone in heavy machinery market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the silicone in heavy machinery industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.