Silicone Elastomers Market Size and Share Analysis by Type (HTV, RTV, LSR), Application (Electrical & Electronics, Automotive & Transportation, Industrial Machinery, Construction) – Global Industry Growth Forecast to 2030

Market Overview

The global silicone elastomers market size stood at an estimated $8,344.8 million in 2021, which is projected to advance at a CAGR of 7.8% during 2021–2030, to reach $16,425.2 million by 2030. The market is driven by the high demand for silicone elastomers in the electrical & electronics industry, their superior properties, and an aging population, which is fueling product demand in the healthcare industry.

China is expected to witness the fastest-growing demand for these materials globally, primarily due to the country's rising industrialization rate. China has developed into a major player in the transportation sector, with the world's longest high-speed train and expressway networks. China is committed to further improving its comprehensive transportation network and establishing a modern logistics service system. It will also promote transportation, agriculture, and tourism integration, as well as actively building diverse international logistics channels. Thus, the demand for silicone elastomer is increasing in the country.

These Materials Are Widely Consumed during Construction

Construction held the largest share, of 42%, in 2021, and it is predicted to maintain this position in the forecast period. Silicone elastomers play an essential role in a variety of construction materials and equipment, such as prefabricated building elements. Since the focus on improved construction quality is rising, the competition is intensifying in an increasingly price-sensitive market. Simultaneously, building companies must comply with the ever-stricter construction quality regulations.

High-performance silicone elastomers are helping construction companies meet these objectives. Their high durability, strength, good resistance to oxygen, ozone, and abrasion, as well as anti-friction qualities, make them essential for the manufacturing, performance, and safety of critical building materials and machinery.

High Demand for Silicone Elastomers from Electrical & Electronics Industry

The global silicone elastomers market is also driven by the high demand for these materials from the electrical & electronics industry. A variety of grades are offered to provide heat resistance, flame retardation, low volatility for delicate components, and moisture protection, in addition to adhesion to a variety of surfaces.

Additionally, when it comes to integrating new electronic technologies, the automobile sector is crucial. Silicones are becoming increasingly significant in developing material solutions that contribute to design flexibility and long-term component durability under demanding operating circumstances, as more electronic components are integrated into automobiles.

Moreover, in electric vehicles, silicones provide engineering and manufacturing solutions for charging units, electric motors, inverters, battery packs, connectors, wiring, sensors, control units, and displays. This is because of the better heat dissipation, higher thermal conductivity, electrical insulation, effective sealing and bonding, and moisture, chemical, thermal stress, vibration, and mechanical shock protection that silicone elastomers provide.

Major Opportunities Areas

The global silicone elastomers market has a bright future, with production volumes and the demand set to rise over the next decade. Antimicrobial silicone elastomers offer a huge opportunity in the health sector. Because of their high biocompatibility, they are becoming the material of choice in a variety of delicate healthcare applications. For instance, medical-grade elastomers can produce carboxylic-acid-modified silicones. Biocompatibility tests have proved medical-grade silicone elastomers as appropriate for use in the healthcare industry. They have a low risk of unfavorable biological reactions due to their low toxicity, consequently acquiring recognition for food and medical applications.

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Product Consumption also Growing in Automotive & Transportation Sector

The automotive & transportation sector held the second-largest share in the silicone elastomers market, of more than 20%, in 2021. The automobile sector, which produces approximately 90 million vehicles per year, is continually inventing and demanding new high-performance materials both under the hood and on other parts of vehicle. Because of the need for a higher air pressure, greater water flow, and more-powerful fuel injection and usage of corrosive fluids, advanced automotive parts are being designed. Moreover, automakers are mandated to reduce vehicle weight and fuel consumption, thus resulting in smaller and more-compact engine compartments. The reduced space results in higher temperatures and more stress on the vital parts.

Traditional materials are unable to withstand these high temperatures and harsh environments. Because of their repeating silicon–oxygen (siloxane) groups with two methyl groups, each bonded to the silicon atom, high-temperature vulcanized (HTV) and LSR silicone elastomers can tolerate severe temperatures of more than 250 ⁰C, and are thus, suited for a wide range of important parts. Advanced silicones for automotive applications are engineered to provide the best combination of tear resistance and compression at high temperatures.

HTV Category Dominates Market

The HTV category held the largest share, of around 60%, in 2021. HTV elastomers are widely employed in the aerospace, munitions, automotive, fine chemicals, construction, electrical & electronics, food processing, and many more industries. This is mostly due to their remarkable temperature and age resistance qualities, as they are made of reactive silicone gums, or straight chains of macromolecules with a high molecular weight and a variety of reactive groups.

Europe Held Largest Share

The European region held the largest silicone elastomers market share, of around 35%, in 2021. The trend of reducing the vehicle weight is primarily driving the European market. Silicone elastomers have the ability to substitute metals and other materials in vehicles, thus lowering their weight and enhancing fuel efficiency and, ultimately, lowering the emission of various pollutants, mainly CO2. Silicones retain their properties and, more significantly, ensure that automobiles, ships, aircraft, and trains run safely and efficiently for long periods.

Additionally, Germany is one of the world's top five "super elderly" countries, and the number of people aged 65 and more will account for nearly one-third of its total population by 2050. As a result, medical care has advanced dramatically during the last few decades. New and creative technologies have aided in the discovery of previously unimagined strategies to combat disease, particularly among the elderly. Silicone elastomers have played a crucial role in advancing healthcare innovation, by assisting medical implant and device makers in developing novel solutions that solve crucial medical requirements.

Market Players Are Involving in Capacity Expansion to Gain Competitive Edge

The global silicone elastomers industry is fragmented in nature, with the presence of major players. In recent years, they have engaged in capacity expansions in order to stay ahead of their competitors. For instance:

• In April 2022, Dow Inc. expanded its global silicone capacity. The company is also investing in increasing its global supply capabilities for silicone materials, as the automotive & transportation industry shifts focus on smarter, safer, and more-sustainable solutions.

Top Silicone Elastomer Manufacturers Are:

• Dow Inc.
• Wacker Chemie AG
• Momentive Performance Materials Inc.
• Shin-Etsu Chemical Co. Ltd.
• China National Bluestar (Group) Co.
• Reiss Manufacturing Inc.
• CHT Germany GmbH
• Mesgo S.P.A.
• Zhejiang Xinan Chemical Industrial Group Co. Ltd.
• Specialty Silicone Products Inc.

Silicone Elastomers Market Size Breakdown by Segment

The study offers comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Type

• HTV
• RTV
• LSR

Based on Application

• Electrical & Electronics
• Automotive & Transportation
• Industrial Machinery
• Construction

By Region

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • U.K.
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • South Africa