Silicone Elastomer Market Size, Share, Growth, and Industry Analysis, By Type (Liquid silicone rubber, High consistency rubber, Fluorosilicone rubber and Others), By Downstream Industry (Automotive, Healthcare, Electronic sector, Apparel and Others) and Regional Forecast to 2032

Updated On: 02 September 2024

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SILICONE ELASTOMER MARKET REPORT OVERVIEW

The global Silicone Elastomer Market Size was USD 7.70 billion in 2023 and the market is projected to touch USD 11.31 billion by 2032, exhibiting a CAGR of 3.92% during the forecast period.

Silicone elastomers are rubber-like materials that are not natural but create synthetic materials that have silicone, oxygen, carbon and hydrogen in them, famous for their resistance against heat, for electrically staying isolated and they can be compatible with the composed bio antibiotics. The materials are mainly linear polymers, in which there are reinforcing agents such as silica, crosslinkers and catalysts which are included. The inclusion of silica in the long-chain polymers boosts the compound's strength and functions as a cross-linking and catalyst agent. These components lead to a material with specific characteristics of mechanical and chemical behaviours that apply to various uses. During the curing process, liquid silicones are turned into solid elastomers. These products make HCR, LSR and RTV elastomers that have varied applications.

Advantages associated with silicone elastomers include high-temperature resistance within a very wide range from -50°C to 250°C, UV resistance, chemical inertness, high elongation and tear strength. They are highly suited for applications with high levels of performance in conditions that are rather unfavourable. Their non-toxicity and absence of allergens make them ideal for use in implants and respiratory masks in the medical field. They are commonly used in kitchen utensils and food storage and preservation equipment because at times they are certified by the FDA for food contact. Besides, due to their dielectric characteristic, these films are used in insulating various electronic devices, their high strength and heat tolerance are desirable in the vehicles and flight industries. Thus, silicone elastomers offer several possibilities at the same time with excellent performances, hence finding an essential place within crowded and demanding sectors.

COVID-19 Impact: Pandemic has affected the market by the lockdown and supply chain challenges

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The demand for silicone elastomer has been affected so much by the disruptions of the supply chain. Some of these disruptions have had repercussions on the procurement of these raw materials, which has affected the timeframe to produce commodities besides incurring high costs. They highlighted the basic materials have been in short supply due to delayed shipping and congestion at the ports which have put pressure on other industries. Therefore, manufacturers have been unable to cope with the high demand causing supply crunch and occasionally a halt in production. These concerns have been amplified by such factors as economic vulnerability arising from the constantly fluctuating international markets and high operating costs in supply chain management, all of which make it extremely important for organizations to adopt robust and flexible supply chain management solutions.

LATEST TRENDS

"Integration of smart technologies enhancing the market"

The use of smart technologies such as the sensor and monitoring system is highly improving the performance of silicone elastomers in all sectors. These advancements allow silicone elastomers not only to be used as structurally sound and highly flexible materials but also as active components in smart systems. For example, in the applications of medicine, the introduction of silicone elastomers with sensors can help track and analyze the health status of patients in real-time, aiding doctors in their clinical work. Through an electric signal conversion mechanism, smart silicone elastomers could monitor and relay information including wear, temperature fluctuations or virtually any relevant state in automobiles or in industries which would enhance safety and reliability. The blending of material properties with technology elements is thus key to shaping the current innovations, growing the sphere of silicone elastomers and offering functional optimizations that are efficient, versatile and capable of meeting modern challenges.

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SILICONE ELASTOMER MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Liquid silicone rubber, High consistency rubber, Fluorosilicone rubber and Others.

Liquid silicone rubber: Liquid Silicone Rubber (LSR) is highly flexible and suited for injection moulding due to its competitiveness when it comes to flow characteristics. They use it immensely and globally with applications in automotive parts, consumer products and medical instruments. Due to its biocompatibility and stabilizability LSR has numerous applications in healthcare applications such as implants and equipment. Their resistance to high heat and unfavourable conditions will contribute to market expansion across multiple industries.

High consistency rubber: High Consistency Rubber (HCR), featuring high viscosity and manufacturability with superior mechanical properties, is employed in automotive gaskets and seals along with parts that call for high abrasion resistance. A high-temperature rubber vulcanization process improves the strength and thermal conductive properties of the final product. HCR is also favourable in industrial applications such as moulds and tooling. Growth in the market comes mostly from the automotive and construction industries.

Fluorosilicone rubber: With improved chemical resistance and low point flexibility, FSR can be applied in both aerospace and automobile industries. The product is designed to improve the performance of the exposed surfaces to fuels, oils, and solvents hence improving performance in harsh weather. Found in seals and gaskets for automotive engines and fuel injection systems, FSR is experiencing increased usage due to industries looking for performance materials that also have high chemical resistance.

Others: The “Others” category includes various silicone elastomers such as room temperature vulcanized (RTV) silicones, employed for miscellaneous applications such as adhesives, sealants and coatings owing to their ease of application and versatile properties. Room-temperature vulcanized, RTV silicones are compatible with construction and general-use consumer products that require a room-temperature curing process. The requirement for these specialized products is on the rise, while ongoing improvements in silicone technology effectively boost the performance of silicone products in this segment and broaden the range of its applications.

By Downstream Industry

Based on downstream industry the global market can be categorized into Automotive, Healthcare, Electronic sector, Apparel and Others.

Automotive: In the automotive sector, there are applications for silicone elastomers in parts such as gaskets, seals and vibration dampers that need durability, flexibility, heat and chemical resistance. Now, with the increasing production of EVs, since silicone elastomers play a vital role in enhancing the capabilities of the batteries and the electronic systems found in modern cars, there is also a growing demand.

Healthcare: One of the prime application areas for silicone elastomers in the healthcare sector is due to the type of properties that include biocompatibility, flexibility and the ability to bear sterilization. These applications include medical devices, implants and surgical instruments. It does not degrade when exposed to high heat or when subjected to rigorous cleaning solutions. Increased utilization of advanced treatments and applications of new technologies, as well as patient safeguards, contribute to growth. The advanced products in silicone specialities are improving effectiveness across the board, thereby experiencing unprecedented growth in the healthcare division.

Electronic sector: In the electronic industry silicone elastomers are used in the applications that require insulating, encapsulation and protection because they offer superior dielectric properties. They are applied in communications equipment, computers and peripherals, office and other small appliances, motor vehicles and communication and various types of industrial machines. An increasing number of smart devices and the miniaturization of portable electronics, coupled with a concern for energy consumption and environmental responsibility are key factors. This growth is expected to have a direct bearing on the silicone elastomers market.

Apparel: Silicone elastomers in the apparel industry are applied to water resistance, flexibility and breathability in garments, improving athletic wear, strength, fashion and sportswear. Due to athleisure trends and consumers’ need for economized valuable materials, their use has been advanced. Silicones are a lightweight and flexible material which is used in new designs where features such as moisture absorption and quick drying are desirable. The apparel segment is also expected to significantly use silicone elastomers in the future with the growing trend of multifunctional clothing.

Others: Silicone elastomers for other applications involve the various sectors in the construction industry, the consumer goods segment and other industrial uses that come under the category of others. In construction, they are employed in weather resistance sealants, adhesives and coatings. In consumer goods, they can increase the flexibility and safety of kitchenware toys and other similar household products. Some of the main industries that employ them include the automotive industry, the manufacture of moulds for industrial use and the production of gaskets and seals. These two features elucidate why there is an increasing market appeal and market size.

DRIVING FACTORS

"Rising demand for lightweight materials to propel the market "

The increasing trend in the consumption of lightweight materials is directly responsible for the global silicone elastomer market growth, particularly in the automotive and aerospace industries. These elastomers are also known to be better used in place of conventional materials by the fact that they have low density and hence lead to the development of lighter vehicles and aircraft. In automotive applications, for instance, silicone elastomers decrease the general mass of applied components such as gaskets and seals and thus lessen fuel consumption and emissions. Similarly, in aerospace applications, the use of these materials is advantageous because it results in improving the fuel efficiency and the general performance of an aircraft. Apart from the fact that it has being most effect in reducing weight, silicone elastomers also have great endurance and elasticity which can pull through in high performance. This change in focus to lightweight materials also has benefits to fuel economy and with a focus on environmental concerns in the world presently, there is positive encouragement for the use of silicone elastomers across industries.

"Strong emphasis on sustainable construction activities to expand the market"

There has been a heightened awareness of green buildings and energy conservation in the construction sector, and silicone elastomers have been among the chief beneficiaries. These are commonly used in sealants and coating systems because of their ability to withstand harsh weather conditions, their high-lasting ability and because they aid in the conservation of energy. Silicone elastomers in buildings contribute to energy management by covering gaps and effectively insulating chambers, doors and windows where heat can escape. Their durability and ability to withstand such conditions as UV radiation, moisture and extreme temperatures make it possible for the building to be energy-efficient in the long run hence sustainability. Also, since silicone elastomers can form strong bonds with different substrates and can withstand severe environmental conditions, they are ideal to be used in green building applications. With increased focus placed on green building solutions, silicone elastomers have emerged as essential to increasing the energy efficiency of construction projects and enhancing the general performance of the building itself.

RESTRAINING FACTORS

"High production cost is one of the major factors that affect the market"

High-quality silicone elastomer requires complex ways of synthesis since sophisticated techniques of manufacture are involved along with rare materials such as silicon, oxygen, carbon and hydrogen. These would then translate into higher costs of manufacture, directly increasing the total cost of the manufactured product. One of the challenges that face manufacturers is the relatively high cost of silicone elastomers, especially in price-sensitive markets, for instance, consumer goods production and some kinds of industrial applications. It signifies that manufacturers are sometimes forced to share the quality aspect to reduce costs that could make them too expensive to compete. However, the process of curing is largely extensive and requires sophisticated equipment to accomplish, which increases the cost of production too. High manufacturing cost is another factor of restraint in the market because they are expensive, which tends to adversely affect their market adoption, especially in price-sensitive markets or segments and industries where costs play a significant role.

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SILICONE ELASTOMER MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific region is driving the market due to burgeoning automotive and electronics industries"

The Asia Pacific continues to have a large demand for the global silicone elastomers market share due to the growing automotive and electronics industries. The region has evolved significantly with the increased rate of industrialization hence presenting a market that demands such materials. Automotive industries use silicone elastomers in the production of automobile gaskets, seals and many other parts due to their durability and ability to work under high-temperature variations. The electronics industry that has grown and expanded its scope on miniaturization and increased technology complexities utilizes silicone elastomers in insulation, housing and physical guarding of vulnerable elements. Moreover, an emphasis on innovation and technologies in the region contributes to the need for more specific silicone products as well. This strong industrialization makes Asia Pacific a significant player in the market indicating its vital contribution towards the sustenance of market growth.

KEY INDUSTRY PLAYERS

"Key industry players are engaging in ongoing research and development leading to advancements in formulations to foster the market"

The leading key industry players are actively involved in the research and development process of newly manufactured silicone elastomers that have shown improved formulations, with the objective of fulfilling requirements in various industries with improved performance. Some of the innovations that have been envisaged in the area consist of higher-performance elastomers with enhanced mechanical properties including tear strength, elasticity and resistance to wear among others. They have also contributed to improved thermal stability and chemical resistance of the final product, an area that increases their applicability in harsh conditions. Furthermore, new formulations are even better biocompatible and can be described as hypoallergenic, which is an essential element for usage in the medical field and other related sectors. Recent developments in the structure of polyurethane include reduced curing time, thus enhancing the production process and moldability. These progressive innovations make silicone elastomers to continue stand as a leading material that responds to the dynamic needs of industries such as automotive, aerospace, electronics and healthcare among others.

List of Market Players Profiled

• Marsh Bellofram (U.S.)
• Cabot Corporation (U.S.)
• Rogers Corporation (U.S.)
• Arlon Silicon Technologies (ALMET) (U.S.)
• DOW Corning (U.S.)
• Allergan (Ireland)
• Saint-Gobain (France)

INDUSTRIAL DEVELOPMENT

October 2023: DuPont Liveo's silicone soft skin adhesives (SSAs) offer gentle adhesion, non-sensitizing, non-irritating, and non-cytotoxic properties, ideal for sensitive and fragile skin. Used in wearable medical devices, SSAs ensure repositionability, cost-effectiveness, and sustainability. Their partnership with Aevice Health led to the AeviceMD, a smart AI wearable stethoscope for children, improving comfort and compliance in asthma monitoring and care.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.