Silicone in Electrical and Electronic Global Market Report 2024: Market Innovations and Strategic Collaboration Analysis

News provided by

Feb 05, 2024, 05:45 ET

DUBLIN, Feb. 5, 2024 /PRNewswire/ -- The "Silicone in Electrical and Electronic Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.

The global electrical and electronic silicone market is set to experience substantial growth. This comprehensive report sheds light on a variety of aspects affecting the market, including current trends, market size, and future prospects.

Leveraging the latest data, the report indicates that the silicone in the electrical and electronics market is projected to expand from $2.08 billion in 2023 to $2.21 billion in 2024, boasting a compound annual growth rate (CAGR) of 6%. This acceleration in growth reflects the diversity and adaptability of silicone materials across a wide spectrum of applications in the electrical and electronics industry.

Product Categories and Market Dynamics

The publication underscores prominent product categories such as sealants and adhesives, ceramics, silicone coatings, and others. It points out the role of these products in various industry applications, highlighting the importance of their insulating properties, heat resistance, and other critical features.

Additionally, the report emphasizes the forecasted continuance of strong growth, anticipating the market to ascend to $2.86 billion in 2028 at a CAGR of 6.7%. Factors contributing to this projection include the rapid advancement of electric vehicles, the proliferation of wearable electronics, and increased adoption of smart home technology.

Regional Insights and Market Leadership

Asia-Pacific Dominance: The largest share in the market was held by the Asia-Pacific region in 2023, which is expected to maintain its lead, driven by rapid technological advancements and evolving consumer electronics industries.

Within the global landscape, the report identifies key players who are aligning strategies to maintain and extend their market share. It highlights strategic partnerships aimed at innovating the integration of silicon technologies in numerous applications, specifically noting collaborative efforts targeting the electric vehicle sector.

Market Innovations and Strategic Collaborations

Recent technological innovations by industry leaders are also featured, revealing new silicone-based technologies with applications in electric vehicles. These innovations include new silicone adhesives and thermal management solutions that are enhancing performance and efficiency in advanced electronic systems.

The industry report profiles major companies and their contributions to market growth through strategic advancements and partnerships, emphasizing their roles in shaping the future of silicone use in electrical and electronics.

As the market continues to grow, the deployment of silicone-based materials in various industry sectors is set to expand, driven by the unique combination of properties that silicone offers. The report provides invaluable insights into the market dynamics, offering a strategic outlook for enterprises operating within this space. This seminal research serves as a barometer for market health, indicating lucrative opportunities and detailing potential areas of expansion for stakeholders.

The electrical and electronic silicone market's robust trajectory illuminates the growing need for these materials and their pivotal role in powering innovation across a multitude of segments, delivering a comprehensive overview for industry participants and observers alike.

Companies Profiled

Silchem Inc.
ICM Products Inc.
Specialty Silicone Products Inc. (SSP)
Wacker Chemie AG
Evonik Industries AG
Dow Inc.
Kemira Oyj
Quantum Silicon Inc.
Kaneka Corporation
Hutchinson SA
Shin-Etsu Chemical Co. Ltd.
H.B. Fuller Company
ACC Silicones Ltd.
Elkem Silicones
LORD Corporation
Rogers Corporation
Momentive Performance Materials Inc.
Henkel AG & Co. KGaA
Reiss Manufacturing Inc.
Saint-Gobain Performance Plastics
3M Company
Nusil Technology LLC
Silafrica
Siltech Corporation
Krayden Inc.
Master Bond Inc.
Permabond LLC
Pyradian Corporation
Silicones Plus Inc.
Trelleborg Group
Zeus Industrial Products Inc.

For more information about this report visit https://www.researchandmarkets.com/r/1u9zqw

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets