As per a new report by Global Market Insights Inc., Silicone Elastomers Market size will reach 1,537 kilo tons by 2023. The key factors to drive the growth are rapid urbanization and industrialization, rising population and increased disposable income. Increasing R&D for product development is likely to open new growth avenues in the market. The report covers a comprehensive analysis of the market with a focus on key factors that influence the market including drivers, impediments, challenges and opportunities. Furthermore, it lists the key developments, expansions, new product launch, R&D, agreements & collaboration of the prominent global companies.
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Silicone elastomer market demand, regarding volume and value, portrays the present and future forecasts by the parallel economic and industry outlook. This analysis covers various feature properties including transparent, lightweight, high resistance and thermal stability which make it a preferred option in a wide range of applications like automotive, electrical & electronics and health care. Construction and infrastructure applications will continue its dominance, with probable growth of 5.3% over the estimated time frame. Electrical and electronic applications volume share is anticipated to witness significant growth and surpass 13.5% shortly. The automotive silicone segment is poised to foresee growth over 24% at a growing CAGR of 5.2% in the next few years.
Global silicone elastomers market growth is significant and is projected to continue in the next few years owing to the highly growing APAC regions. APAC region is a key hub in silicone elastomers market and can witness good growth over the estimated period. The increased investments in construction together with encouraging prospects will play a pivotal role for the expansion of regional automotive industry. Furthermore, government initiatives with a focus on infrastructure development are likely to prove favorable with promising growth opportunities.
The report comprises of detailed overview and predictive analysis of the market. The industry gets segmented by product, application, region and competitive scenario. Each of these segments is analyzed with a broad perspective to provide a comprehensive analysis of the market.
Browse key industry insights spread across 175 pages with 219 market data tables & 15 figures from the report, “Silicone Elastomers Market Size By Product (HTV, LSR, RTV), By Application (Automotive & Transportation, Electrical & Electronics, Industrial Machinery, Construction, Consumer Goods), Industry Analysis Report, Regional Outlook (U.S., Germany, France, UK, Italy, China, India, Japan, South Korea, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
With several end-user industries using silicone rubbers, research and development is a crucial part of the market. High investments by the end product manufacturers, manufacturing companies, and associations for technology advancement and modifications of silicone elastomers applications to meet the new demands from different sorts of applications and substitute natural rubber and other rubbers are likely to open new avenues in the market.
The key players in this market are Dow Corning Corporation, Momentive, Wacker Chemie, and Shin-Etsu.
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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.
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