Silicone Elastomers Market: Type, Liquid Silicone Rubber, and Room Temperature Vulcanized ), Process, End-User, and Geography         

Silicone Elastomers Market Size, Share, Growth, Trends, and Global Industry Analysis: Type (High-Temperature Vulcanized (HTV), Liquid Silicone Rubber (LSR), and Room Temperature Vulcanized (RTV)), Process (Extrusion, Liquid Injection Molding, Injection Molding, Compression Molding, Others), End-User (Automotive & Transportation, Consumer Goods, Electrical & Electronics, Healthcare, Industrial Machinery, and Others), and Region         

Silicone Elastomers Market size was valued at US$ 7,298.1 million in 2023 and is poised to grow at a CAGR of 7.9% during 2024-2030. The silicone elastomers market is expected to grow steadily in the coming years. The market is driven by the superior properties of silicone elastomers, which offer a unique combination of properties that make them ideal for a wide range of applications. They are highly elastic, heat-resistant, and chemical-resistant. They are also biocompatible and UV-resistant. These properties make them well-suited for use in various industries, including construction, automotive, healthcare, and electronics, the growing demand for silicone elastomers has been driven by factors such as the increasing use of these materials in packaging, aircraft manufacturing, and the electrical & electronics industry, and from other end-user industries.

Additionally, liquid silicone elastomers, known for their strong color gamut and phosphorescent colors, have benefited from rising demand for smartwatches and other wearable devices. The global population is aging, and this is leading to an increased demand for medical devices and implants. Silicone elastomers are a popular material for these applications because of their biocompatibility and durability. However, the market also faces some challenges, such as price volatility, environmental concerns, and competition from other materials. Despite these challenges, there are several opportunities for growth in the silicone elastomers market, such as the development of new applications, the expansion into emerging markets, and the increased focus on sustainability.  

Silicone Elastomers Market Recent Key Developments:
  • Oct 2021 the munich-based chemical company WACKER acquires a 60 percent stake in specialty silane manufacturer SICO Performance Material Co., Ltd, Jining (China), to further expand the share of high-margin specialties in silicone business worldwide.
  • In March 2023, dow announced the expansion of its silicone sealant products to offer photovoltaic (PV) module assembly materials, furthering the global movement toward renewable energy. The newly launched DOWSIL™ PV Product Line with six silicone-based sealants and adhesives solutions can be used to deliver durability and proven performance for frame sealing, rail bonding, junction box bonding and potting, and building integrated photovoltaics (BIPV) installation materials.

Silicone Elastomers Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

7.9%

Largest Market

Asia Pacific

Fastest Growing Market

North America

Silicone Elastomers Market Dynamics

There are constantly new applications being developed for silicone elastomers. This is due to the ongoing development of new silicone elastomer formulations with improved properties. The silicone elastomers market is growing rapidly in emerging markets, such as China and India mainly due to the growing economies and manufacturing sectors in these countries and there is a growing focus on sustainability in the manufacturing industry. This is creating opportunities for the development of new silicone elastomer formulations that are more environmentally friendly. The recent trends are increasing the demand for biocompatible grades of silicone elastomers for use in medical devices and implants. The miniaturization of electronic components is driving the demand for silicone elastomers with high precision and low tolerances, and manufacturers are increasingly demanding custom silicone elastomer solutions that meet their specific needs.

Silicone Elastomers Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 7,298.1 million

Market CAGR

7.9%

By Type

  • High-Temperature Vulcanized (HTV)
  • Liquid Silicone Rubber (LSR)
  • Room Temperature Vulcanized (RTV)

By Process

  • Extrusion
  • Liquid Injection Molding
  • Injection Molding
  • Compression Molding
  • Others

By End User

  • Automotive & Transportation
  • Consumer Goods
  • Electrical & Electronics
  • Healthcare
  • Industrial Machinery
  • Others

By Region

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA

 

Key Features of the Report

  • The silicone elastomers market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenarios.

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Frequently Asked Questions

The silicone elastomers market was valued at US$ 7,298.1 million in 2023 and is projected to grow at a CAGR of 7.9%.

The market is driven by the superior properties of silicone elastomers, increased demand for medical devices and implants, increasing use of these materials in packaging, aircraft manufacturing, and the electrical & electronics industry, and other end-user industries.

Momentive Performance Materials, Shin-Etsu, Dow Corning, Wacker Chemie, China National Bluestar Silicones, Zhejiang Xinan Chemical Industrial Group Co., Ltd., Specialty Silicone Products, KCC Corporation, Reiss Manufacturing, and Mesgo SpA

Market research is segmented based on the type, process, end-users, and region.

Which is the most dominant silicone elastomers market? Asia-Pacific is the dominant in the silicone elastomers market.

Author image

Author

Prem Kumar

Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....

1. Executive Summary
2. Global Silicone Elastomers Market Introduction
2.1. Global Silicone Elastomers Market Taxonomy
2.2. Global Silicone Elastomers Market Definitions
2.2.1. Type
2.2.2. Process
2.2.3. End-User
3. Global Silicone Elastomers Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Silicone Elastomers Market Dynamic Factors - Impact Analysis
3.6. Global Silicone Elastomers Market Competition Landscape
4. Global Silicone Elastomers Market Analysis,2019 - 2023 and Forecast, 2024 - 2030
4.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Silicone Elastomers Market, By Type,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
5.1. High Temperature Vulcanized (HTV)
5.1.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Liquid Silicone Rubber (LSR)
5.2.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Room Temperature Vulcanized (RTV)
5.3.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
6. Global Silicone Elastomers Market Forecast, By Process,2019 - 2023 and Forecast, 2024 - 2030
6.1. Extrusion
6.1.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Liquid Injection Molding
6.2.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Injection Molding
6.3.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
6.4. Compression Molding
6.4.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.4.3. Market Opportunity Analysis
6.5. Others (Pultrusion and Calendering)
6.5.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.5.3. Market Opportunity Analysis
7. Global Silicone Elastomers Market Forecast, By End-Use,2019 - 2023 and Forecast, 2024 - 2030
7.1. Automotive & Transportation
7.1.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Consumer Goods
7.2.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Electrical & Electronics
7.3.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Healthcare
7.4.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Industrial Machinery
7.5.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Others (Sporting goods and lifestyle products)
7.6.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.6.3. Market Opportunity Analysis
8. Global Silicone Elastomers Market Forecast, By Region,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
8.1. North America
8.1.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Europe
8.2.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Asia-Pacific
8.3.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Latin America
8.4.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Middle East and Africa
8.5.1. Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Global Silicone Elastomers Market - Opportunity Analysis Index, By Type, By Process, By End -User and Region, 2024 - 2030
9. North America Silicone Elastomers Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
9.1. Type Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. High Temperature Vulcanized (HTV)
9.1.2. Liquid Silicone Rubber (LSR)
9.1.3. Room Temperature Vulcanized (RTV)
9.2. Process Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.2.1. Extrusion
9.2.2. Liquid Injection Molding
9.2.3. Injection Molding
9.2.4. Compression Molding
9.2.5. Others (Pultrusion and Calendering)
9.3. End-User Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.3.1. Automotive & Transportation
9.3.2. Consumer Goods
9.3.3. Electrical & Electronics
9.3.4. Healthcare
9.3.5. Industrial Machinery
9.3.6. Others (Sporting goods and lifestyle products)
9.4. Country Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.4.1. USA
9.4.2. Canada
9.5. North America Silicone Elastomers Market - Opportunity Analysis Index, By Type, By Process, By End - User and Country, 2024 - 2030
9.6. North America Silicone Elastomers Market Dynamics Trends
10. Europe Silicone Elastomers Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
10.1. Type Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. High Temperature Vulcanized (HTV)
10.1.2. Liquid Silicone Rubber (LSR)
10.1.3. Room Temperature Vulcanized (RTV)
10.2. Process Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Extrusion
10.2.2. Liquid Injection Molding
10.2.3. Injection Molding
10.2.4. Compression Molding
10.2.5. Others (Pultrusion and Calendering)
10.3. End-User Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Automotive & Transportation
10.3.2. Consumer Goods
10.3.3. Electrical & Electronics
10.3.4. Healthcare
10.3.5. Industrial Machinery
10.3.6. Others (Sporting goods and lifestyle products)
10.4. Country Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.4.1. Germany
10.4.2. UK
10.4.3. France
10.4.4. Spain
10.4.5. Italy
10.4.6. Russia
10.4.7. Poland
10.4.8. Rest of Europe
10.5. Europe Silicone Elastomers Market - Opportunity Analysis Index, By Raw Material Type, End -Use and Country, 2024 - 2030
10.6. Europe Silicone Elastomers Market Dynamics Trends
11. Asia-Pacific Silicone Elastomers Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
11.1. Type Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. High-Temperature Vulcanized (HTV)
11.1.2. Liquid Silicone Rubber (LSR)
11.1.3. Room Temperature Vulcanized (RTV)
11.2. Process Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Extrusion
11.2.2. Liquid Injection Molding
11.2.3. Injection Molding
11.2.4. Compression Molding
11.2.5. Others (Pultrusion and Calendering)
11.3. End-User Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Automotive & Transportation
11.3.2. Consumer Goods
11.3.3. Electrical & Electronics
11.3.4. Healthcare
11.3.5. Industrial Machinery
11.3.6. Others (Sporting goods and lifestyle products)
11.4. Country Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.4.1. Japan
11.4.2. China
11.4.3. India
11.4.4. ASEAN
11.4.5. Australia & New Zealand
11.4.6. Rest of Asia-Pacific
11.5. Asia-Pacific Silicone Elastomers Market - Opportunity Analysis Index, By Type, By Process, By End-Use and Country, 2024 - 2030
11.6. Asia-Pacific Silicone Elastomers Market Dynamics Trends
12. Latin America Silicone Elastomers Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
12.1. Type Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. High Temperature Vulcanized (HTV)
12.1.2. Liquid Silicone Rubber (LSR)
12.1.3. Room Temperature Vulcanized (RTV)
12.2. Process Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Extrusion
12.2.2. Liquid Injection Molding
12.2.3. Injection Molding
12.2.4. Compression Molding
12.2.5. Others (Pultrusion and Calendering)
12.3. End-User Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Automotive & Transportation
12.3.2. Consumer Goods
12.3.3. Electrical & Electronics
12.3.4. Healthcare
12.3.5. Industrial Machinery
12.3.6. Others (Sporting goods and lifestyle products)
12.4. Country Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Argentina
12.4.4. Rest of Latin America
12.5. Latin America Silicone Elastomers Market - Opportunity Analysis Index, By Type, By Process, By End-Use and Country, 2024 - 2030
12.6. Latin America Silicone Elastomers Market Dynamics Trends
13. Middle East and Africa Silicone Elastomers Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
13.1. Type Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. High Temperature Vulcanized (HTV)
13.1.2. Liquid Silicone Rubber (LSR)
13.1.3. Room Temperature Vulcanized (RTV)
13.2. Process Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Extrusion
13.2.2. Liquid Injection Molding
13.2.3. Injection Molding
13.2.4. Compression Molding
13.2.5. Others (Pultrusion and Calendering)
13.3. End-User Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Automotive & Transportation
13.3.2. Consumer Goods
13.3.3. Electrical & Electronics
13.3.4. Healthcare
13.3.5. Industrial Machinery
13.3.6. Others (Sporting goods and lifestyle products)
13.4. Country Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.4.1. Gulf Cooperation Council (GCC) Countries
13.4.2. Israel
13.4.3. South Africa
13.4.4. Rest of MEA
13.5. MEA Silicone Elastomers Market - Opportunity Analysis Index, By Type, By Process, By End-Use and Country, 2024 - 2030
13.6. MEA Silicone Elastomers Market Dynamics Trends
14. Competition Landscape 
14.1. Strategic Dashboard of Top Market Players
14.2. Company Profiles (Introduction, Financial Analysis, Feedstock Material & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
14.2.1. Momentive Performance Materials (US)
14.2.2. Shin-Etsu (Japan)
14.2.3. Dow Corning (US)
14.2.4. Wacker Chemie (Germany)
14.2.5. China National Bluestar Silicones (China)
14.2.6. Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China)
14.2.7. Specialty Silicone Products (US)
14.2.8. KCC Corporation (South Korea)
14.2.9. Reiss Manufacturing (US)
14.2.10. Mesgo SpA (Italy)
15. Research Methodology
16. Key Assumptions and Acronyms

Key Market Players

  • Momentive Performance Materials (US)
  • Shin-Etsu (Japan)
  • Dow Corning (US)
  • Wacker Chemie (Germany)
  • China National Bluestar Silicones (China)
  • Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China)
  • Specialty Silicone Products (US)
  • KCC Corporation (South Korea)
  • Reiss Manufacturing (US)
  • Mesgo SpA (Italy)

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