Growing major end-use industries such as automotive, construction, electrical and electronics industry is expected to have direct positive impact on the global silicone elastomer market. Superior technical properties over conventional rubber are expected to drive the silicone elastomer market over the forecast period. Major application markets include adhesives, coatings and insulation. Increasing niche applications such as abrasion resistance, adhesion, ageing, easy coloring, hydrophobicity, and stain resistance is expected to bolster the market demand over next six years.
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Growing industrialization & urbanization in emerging economies such as Brazil, India, Thailand, Indonesia and Vietnam is presumed to increase the silicone elastomers demand in regional markets. Asia Pacific was the largest regional market in 2013. Increasing population and rising disposable income of consumers is expected to have positive influence on the market. Government dynamic policies and stringent regulations on chemical industries in Europe may hamper the regional market. High manufacturing cost is anticipated to hamper the silicone elastomer market demand over the next six years.
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Dow Corning invested in R&D and developed an innovative fluorinated liquid silicon rubber (LSR) which has better performance capabilities than conventional technologies. Emergence of a biopolymer containing benefits of both silicone rubber and thermoplastic polyurethane (TPU) is presumed to replace conventional latex in medical application. These R&D initiatives are expected to create ample opportunities for the market participants. Emergence of such new applications in market is expected to boost the silicone elastomer demand. Other participants in silicone elastomers market include WackerChemieAG, Momentive Performance Material Inc., Shin-Etsu Chemical Co., Ltd, China National Bluestar Group, Wynca Group, Mesgo S.P.A. and Speciality Silicone Products.
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