Silicone Rubber Market Overview
Silicone Rubber an elastomeric material is inert, stable, highly resistant to the extreme work environments. Moreover, some of the other substantial properties exhibited by the silicone rubber such as the high withstand ability for a broader range of temperature (75°F to 500°F) as compared to nearly all other elastomers, high wear and tear strength, great elongation, and high flexibility makes it an ideal component for a range of applications in automotive and construction industry.
Additionally, the highly non-conductive, silicone rubbers maintain greater dielectric strength and resistance to water, oxidation, various acids, solvents, oils, and fuels which make them ideal for the use in electronics materials. The silicone rubber products are widely used in almost all the rapidly growing industries such as automotive, construction and electronics. The augmented use in some of the burgeoning industries consecutively escalates the market on the global platform.
Silicone Rubber MarketKey Players
The key players in the Global Silicone Rubber Market are CHT Group (Germany), KCC CORPORATION (South Korea), Elkem Silicones (Norway), MESGO S.p.A. (Italy), Momentive (US), Wacker Chemie AG (Germany), Shin-Etsu Chemical Co. (Japan), Reiss Manufacturing, Inc. (US), SIMTEC Silicone Parts (US), Shenzhen Inno Silica Co., Ltd. (China)
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Global Silicone Rubber Market Regions
The Asia Pacific region, heading with the burgeoning automotive industry, is expected to continue to lead the global silicone rubber market. Moreover, rapidly growing markets in the APAC region, such as medical devices, consumer goods, electronics, construction, and footwear are providing impetus to the growth of the regional markets. Increasing infrastructure development activities mainly in India & China are contributing a great deal to the regional market, accelerating the use of silicone-based bearing pads.
The ample availability of cost-competitive logistic such as workforce, land, and the raw materials required for the production of paraxylene is a key force attracting several foreign investors. Resultantly, many key players from the developed regions such as North America and Europe are increasingly shifting their prominent manufacturing bases to China and India. This, as a result, is likely to foster the market growth in the APAC over the forecasted period.
The silicon rubber market in the North American region accounts for the second largest market, globally, following the APAC market closely. Increasing reconstruction activities and growing demand for the product in the automotive industry are driving the growth of the regional market. The region is expected to witness a noteworthy growth due to the high consumption potential of the product in various industries, increasing production capacities, and high economic growth rate.
The US, backed by the increasing industrialization accounts for a significant contributor to the growth of the regional market and is expected to account for phenomenal accruals, witnessing a considerable demand during the forecast period, 2018 to 2023.
While surging in value & volume, the Canadian silicon rubber market is estimated to register a moderate CAGR on account of increasing production of sportswear.
Latin America, backed by the increasing consumer spending on passenger cars and intervention of new technologies in silicone rubber, will perceive substantial growth in the demand for silicone rubber in the end-use industries. Furthermore, the penetration of lightweight transportation trucks and vehicles in countries such as Argentina, Colombia, and Brazil are predicted to boost the existing growing silicone-based tire market in this region.
The European region accounts for a profitable market for silicon rubber which is estimated to grow to register a significant CAGR during the forecast period. The market is majorly increasing due to the growing markets for automobiles, construction, medical devices, and consumer goods among others, in Germany, the UK, and France. Furthermore, the high uptake of the product by the automobile manufacturers and the increased expenditure in innovation backed by the improving economy are some of the factors predicted to drive the market in the forecast period.
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Global Silicone Rubber Market Segment
The MRFR analysis is segmented into three key dynamics for enhanced understanding.
By Type : Liquid Silicone Rubber, High Consistency Rubber, and Fluorosilicone Rubber among others.
By Application: Automotive, Medical, Electronics, Construction, Footwear, Consumer Goods and Sportswear among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
TABLE OF CONTENTS
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Bargaining Power of Suppliers
4.1.4 Threat of Substitutes
4.1.5 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Silicone Rubber Market
5 Industry Overview of Global Silicone rubber Market
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