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Silicone Elastomers Market: Type, Liquid Silicone Rubber, and Room Temperature Vulcanized ), Process, End-User, and Geography
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.
Study Period
2024-2030Base Year
2023CAGR
7.9%Largest Market
Asia PacificFastest Growing Market
North America
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.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2023 |
US$ 7,298.1 million |
Market CAGR |
7.9% |
By Type |
|
By Process |
|
By End User |
|
By Region |
|
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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.
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