Global Silicone Rubber Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global silicone rubber market is anticipated to grow at a CAGR of 5.5% during the forecast period (2022-2028). Silicone rubber is generally utilized in high-performance applications, particularly in hostile situations where other polymeric materials cannot be used. The market growth is majorly attributable to the growing need for silicone rubber in the field of construction, electronics and automotive, among others. The utility of silicone elastomers in the automotive vertical is propelled by the significant demand for passenger and commercial vehicles. In addition to this, the demand for silicone rubber in the health care vertical has been on the rise in the past few years owing to its exceptional biocompatibility. This makes it an ideal raw material in the manufacturing of various medical related tools and products.

Although, the high cost of silicone rubber in comparison to other alternatives coupled with the instability in the prices of raw material may hamper the global market growth. Despite this uncertainty, the growing automotive industry is considerably contributing to the market growth. In particular, the growth in the number of automobile cars globally in recent years as a result of increase in per capita income, increased urbanization and industrialization, growth in the living standards, and change in consumer preferences has surged the demand for silicone rubber.

Some key players operating in the market include Momentive Performance Materials Inc., KCC Corp., and Wacker Chemie AG, among others. The market players are eyeing on strengthening their position in the market by adopting various strategies such as mergers and acquisitions, partnerships, collaborations, new product launches and development in the existing product portfolio, and so on. For instance, in January 2019, 3D printable silicone rubber from Dow had been used in QUANT-U, an experimental footwear customization project by the Innovation Lab (ILE), ECCO’s independent cross-disciplinary design studio.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-

• By Type
• By Application
• By End-Use Industry

• Regions covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

• Competitive Landscape: Momentive Performance Materials Inc., KCC Corp., and Wacker Chemie AG, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?

• Deviation from the pre-COVID-19 forecast
• Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Silicone Rubber Market Report by Segment

By Type

• Liquid Silicone Rubber
• High Temperature Vulcanized
• Room Temperature Vulcanized
• Fluor silicone Rubber

By Application

• Gasket and Seals
• Adhesives and Sealants
• Coatings
• Encapsulants
• Catheters and Tubing

By End-Use Industry

• Electronics
• Aerospace
• Construction
• Medical
• Automotive
• Consumer Products