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).
Silicone elastomers, also known as silicone rubber or silicone based polymers, are offered in various formulations such as solids, open cell foams, thermally conductive materials, closed cell sponges, and electrically conductive materials. Based on their molecular weight and degree of cross linking, silicone elastomers are classed as resins, fluids, or elastomers. Often, fillers are added to silicone elastomers to reinforce their properties and reduce their costs. Silicone elastomers are usually stable, non-reactive, and capable of sustaining severe weather change and temperatures. Owing to these properties, in addition to easy manufacturing and molding, silicone elastomers have quite a lot of commercial and industrial applications such as sealants in the construction industry, shaping, ignition cables, gaskets, hoses, adhesives, utensils, surgical equipment, baby care products, tubing, sterilization equipment, catheters, and other applications in the healthcare sector.
Broad application in numerous end use industries such as healthcare, construction, aerospace, aviation, automotive, and consumer goods among others is driving demand for silicone elastomers across the globe. Growth of the automotive sector, increasing awareness of sterlizing surgical equipment, and increasing application in the consumer goods sector is expected to propel growth of the market. Furthermore, growth of the aviation sector in the next few years will result in demand for aerospace applications, which in turn will benefit demand for silicone elastomers. Silicone elastomers have several properties such as resistance to extreme weather conditions, compression, tear strength, elongation, resistance to fire, thermal conductive, as well as superior tensile strength in certain cases than organic rubbers, make silicone elastomers an ideal choice for some industrial applications. Moreover, owing to its inertness, silicone elastomers can be used in medical settings such as implants. It is also highly suitable for infant care products because of its biocompatibility and hypoallergenic characteristics. Silicon elastomers have high chemical stability which inhibits any chemical reactions between substrates that come in contact with it, such as water, skin, blood, and so on.
However, factors such as fluctuation in cost of raw materials, and stagnant demand for silicone elastomers in developed economies is likely to hamper growth of the global silicone elastomers market.
Among regions, Asia Pacific, Europe, and North America are expected to generate the highest market share in the global silicone elastomers market. Increasing number of electronic and electrical industries, combined with rapid industrialization in emerging economies such as China and India is estimated to favour growth of the market in the region. Moreover, high demand for applications such as sealing, bonding, and insulation from the automotive industry in Asia Pacific will provide growth opportunities to the market. Europe and North America are expected to witness stable demand for silicone elastomers in comparison to demand from countries such as China, Japan and South Korea. Other regions such as Africa and the Middle East will also account for a considerable share in the growth of the market on a global scale.
Some of the key players in the global silicone elastomers market include Momentive, Rogers Corporation, Allergan, Reiss Manufacturing Incorporated, Wacker Chemie AG, Arlon Silicone Technologies, Dow Corning, Cabot Corporation, MESGO s.p.A, Sigmasoft Engineering GmbH, Bentec Medical Incorporated, Shin-Etsu Chemical Company Limited, Saint-Gobain, ContiTech AG, AkzoNobel, Marsh Bellofram, and ELMET among others.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.