Delaware, April 20, 2016 (GLOBE NEWSWIRE) -- Global Silicone Elastomers Market size is forecast to reach USD 12.8 Billion by 2023; as per a new research report by Global Market Insights, Inc. Superior mechanical and chemical properties, compared to other elastomers and positive growth outlook across application market is likely to drive silicone elastomers market size to over 1,500 kilo tons by 2023.
Extended lifetime and a wide temperature operating range, low toxicity, low flammability, low smoke density, inertness to chemicals & solvents, oil & fuel resistance, and high productivity are some key attributes assisting industry penetration. Strong R&D focus for application development should create growth opportunities.
Browse In-depth Research Report on Global Silicone Elastomers Market with detailed Charts and Figures: https://www.gminsights.com/industry-analysis/silicone-elastomers-market
HTV (High Temperature Vulcanize) silicone elastomer market size is forecast to witness 5.2% CAGR growth from 2016 to 2023. Room Temperature Vulcanize (RTV) industry revenue is forecast to exceed USD 1.3Billion by 2023.
Silicone elastomers market share holds over 45% of the overall silicone industry. Silicone can be transformed into a number of products including adhesives, coatings, sealants, lubricants oils, and resins. Rise in ageing population and urge to stay personable in the generation are some major factors that are expected to fuel the silicone implant industry.
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Key Insights from the Report Include:
- Global silicone elastomer market size was over USD 7.1 Billion in 2015, with 7.6% CAGR expectation from 2016 to 2023.
- Construction silicone elastomers market share is forecast to exceed USD 5.5 Billion by 2023. With infrastructure spending in China, India and South-east Asia expected to rise by 10% every year; APAC will be the most attractive region for these applications.
- Electronic silicone elastomers market growth should be over 8% CAGR from 2016 to 2023. Healthcare is a relatively unexplored application for industry participants. Technology innovation and demographic trends are likely to offer potential growth throughout the forecast period.
- APAC was dominated by India and China silicone elastomers market share. Other developing markets such as Middle East & Africa are projected to experience brisk growth in areas such as automotive, construction, healthcare, consumer goods and electrical & electronics.
- South Korea silicone elastomers industry saw over 76 kilo tons consumption in 2015. Europe and North America are relatively sluggish regions. Smaller regional avenues such as Central & South America are expected to witness strong overall growth.
- The global industry is fairly concentrated, with over 80% share being dominated by top companies. Dow, Wacker, Momentive and Shin-Etsu dominate the production landscape.
- Industry value chain comprises raw material producers, silicone elastomer manufacturers, distributors, and end-use applications.
Global Market Insights has segmented the silicone elastomers industry on the basis of product, application and region:
- Global Silicone Elastomers Product Analysis (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2023)
- High Temperature Vulcanize (HTV)
- Room Temperature Vulcanize (RTV)
- Liquid Silicone Rubber (LSR)
- Global Silicone Elastomers Application Analysis (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2023)
- Electrical & Electronics
- Automotive & Transportation
- Industrial Machinery
- Consumer Goods
- Construction
- Others
- Global Silicone Elastomers Regional Analysis (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2023)
- North America
- S.
- Europe
- Germany
- UK
- Italy
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Middle East & Africa
- Central & South America
- Brazil
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.