Global Silicone Elastomers Market to Surpass USD 11.19 Billion By 2031| Growth Market Reports

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May 30, 2023, 06:15 ET

PUNE, India, May 30, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Silicone Elastomers Market Segments - By Type (Liquid Silicone Rubber, High Consistency Rubber, Fluorosilicone Rubber, Others), By Application (Automotive, Healthcare, Electronics, Apparel, Medical Devices, Home Repair & Hardware, Construction, Others), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 6.40 billion in 2022 and is expected to surpass USD 11.19 billion expanding at a CAGR of 6.4% by the end of 2031. The market is boosted by the increasing silicone elastomers utilization in the automotive industry.

Key Market Players Profiled in the Report

CHT Germany GmbH
Elkem ASA
KCC CORPORATION
The Dow Chemical Company ("Dow")
Momentive
Wacker Chemie AG
Innovative Silicone
ARCO Silicone
Nano Tech Chemical Brothers Private Limited
Shenzhen Tensan CO., LTD.
STOCKWELL ELASTOMERSICS, INC

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include type, application, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Highlights on the Segments of the Global Silicone Elastomers Market

On the basis of region, the global silicone elastomers market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in Asia Pacific is expected to expand at a considerable CAGR during the forecast period. Rising car production in countries such as Japan, Malaysia, Taiwan, and India is expected to upsurge the silicone elastomers market in the region.

Europe is expected to be a rapidly growing region in the global market during the projected period, due to the increasing industrialization and urbanization, expansion of vehicle industry, and rising demand for cosmetics in the region.

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Key Takeaways from the Study:

Silicone elastomers offer high mechanical characteristics and are employed in high-performance applications, especially when conventional polymeric materials are expected to fail.
It is a good fit for electrical insulation applications due to its high dielectric strength.
Silicone elastomers have applications in the construction sector. Governments are focusing on constructing residential homes to offer proper housing facilities to the increasing population.
Rising product application in construction, healthcare, and others is anticipated to boost the market in the coming years.
The high consistency rubber segment is projected to expand at the fastest CAGR during the forecast period due to product characteristics' including high resistance to heat, cold, and other extreme weather conditions.
The automotive segment is projected to hold a major revenue share of the market, owing to the technological advancements in the automotive industry to increase comfort, safety, and fuel efficiency in automobiles.

Read 239 Pages Research Report with Detailed TOC on "Global Silicone Elastomers Market Segments - by Type (Liquid Silicone Rubber, High Consistency Rubber, Fluorosilicone Rubber, Others), by Application (Automotive, Healthcare, Electronics, Apparel, Medical Devices, Home Repair & Hardware, Construction, Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Type

Liquid Silicone Rubber
High Consistency Rubber
Fluorosilicone Rubber
Others

Application

Automotive
Healthcare
Electronics
Apparel
Medical Devices
Home Repair & Hardware
Construction
Others

Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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