The report “Silicone Elastomers Market by Type (HTV, RTV, LSR), By Process (Extrusion, Liquid Injection Molding, Injection Molding), End-Use Industry (Building & Construction, Electrical & Electronics, Automotive & Transportation) & Region – Global Forecast to 2027” The silicone elastomers market is projected to reach USD 13.5 billion by 2027, at a CAGR of 7.4 % from USD 9.4 billion in 2022. The growing development in healthcare industry is driving the demand for silicone elastomers. Rising awareness towards health & hygiene and interest towards antimicrobial properties will further drive the demand for silicone elastomers in the industry. The superior properties of silicone elastomers with electrical conductivity make it suitable for electrical & electronics applications.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=6310524
Based on type, silicone elastomers are classified into, HTV (high-temperature vulcanization) also known as HCR (high consistency rubber), RTV (room temperature vulcanization), and LSR (LSR vulcanized at high temperature). Among the three main types of silicone rubber that are currently in production, LSR is witnessing strong growth owing to the increasing demand from various end-use industries. LSRs are gaining popularity because of their performance advantages such as biocompatibility, easy processing, ease of use, and the ability to be cast into any shape.
Based on end-use industry, the silicone elastomers market is segmented as building & construction, electrical & electronics, automotive & transportation, consumer goods, healthcare, foam and others. Demand for silicone elastomers has increased in the healthcare industry owing to the increasing demand for safe and sterile equipment. After the spread of COVID-19, there is an increased awareness and demand regarding safety of medical and pharmaceutical equipment. These elastomers are being extensively used in the industry because of their superior properties such as excellent UV and ozone resistance, ease of fabrication and processing, high thermal conductivity, and high gas & drug permeability.
Asia Pacific is the largest and the fastest-growing market for silicone elastomers, in terms of volume. The growth in this region is mainly attributed to the high economic growth rate and heavy investments in the automotive & transportation, electrical & electronics, and healthcare industries. In the recent years, Asia Pacific has emerged as a major market for silicone elastomers because of the growing demand from China and India. Manufacturers are focusing on this region to gain market share and improve profitability. Growing industrialization, backed by infrastructure development in the region, has offered enormous opportunities for the growth of the silicone elastomers market in Asia Pacific.
Browse 299 market data Tables and 63 Figures spread through 273 Pages and in-depth TOC on “Silicone Elastomers Market“
Request Sample Brochure @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=6310524
