Austin, April 07, 2025 (GLOBE NEWSWIRE) -- The silicone elastomers market is projected to reach a valuation of USD 12.64 billion by 2032, expanding at a compound annual growth rate (CAGR) of 6.59% from 2024 to 2032. Silicone elastomers have unique advantages compared to traditional rubbers, like higher heat stability, chemical resistance, and good electrical insulation. Such characteristics also make them very well suited for critical applications where performance is of utmost importance. Silicone elastomers are in high demand, especially in the automotive sector, owing to the increasing demand for lightweight, high-performance materials. The increasing demand for biocompatible materials for implants, seals, and other medical devices is also driving the growth of the market in the medical industry.
The Silicone Elastomers Market size in the U.S. was USD 1.14 billion in 2023 and is expected to reach USD 2.30 billion by 2032, growing at a CAGR of 8.08% over the forecast period of 2024-2032. It has a strong presence in various industries like automotive, health care, and construction industry, the major end-use industries for silicone elastomers in the world. The market is also getting complement from major manufacturers like Dow and Momentive and high level of investment in research and development; thus, strengthening the market as well. Also, high functional silicone elastomers for medical applications have been propelled by stringent regulatory requirements from the FDA and EPA. The rising use of silicone elastomers in electric vehicles (EVs) and renewable energy sectors is also driving the market.
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Key Players:
- Dow Corning Corporation (Silastic LSR, Silastic RTV)
- Wacker Chemie AG (ELASTOSIL R, ELASTOSIL LR)
- Momentive Performance Materials Inc. (Silopren LSR, Silplus HCR)
- Shin-Etsu Chemical Co., Ltd. (KE-1950, KE-552U)
- KCC Corporation (KCC SILICONE RTV, KCC SILICONE LSR)
- Elkem Silicones (Bluesil LSR, Bluesil HCR)
- Reiss Manufacturing Inc. (Reiss Silicones HCR, Reiss Silicones LSR)
- Mesgo S.P.A. (Mesgo Silicone Compounds, Mesgo Fluorosilicone)
- Specialty Silicone Products, Inc. (SSP-2390, SSP-502-30)
- Stockwell Elastomerics (Silicone Sponge Gaskets, Silicone Rubber Sheets)
- ICM Products (Silicone Gels, Silicone Fluids)
- Innovative Silicones (InnoSil LSR, InnoSil RTV)
- Universal Rubber Mfg (Silicone Extrusions, Silicone Molded Parts)
- Cauchos Pedro Romero (Silicone Profiles, Silicone Cords)
- Soudal (Silirub 2, Silirub 2S)
- Celanese (Celanex PBT, Vandar PBT)
- China National BlueStar (Group) Co., Ltd. (BlueStar Silicone HCR, BlueStar Silicone LSR)
- Zhejiang Xinan Chemical Industrial Group Co., Ltd. (Xinan Silicone Rubber, Xinan Silicone Sealant)
- Hoshine Silicon Industry Co., Ltd. (Hoshine Silicone Rubber, Hoshine Silicone Oil)
- Dongyue Group Ltd. (Dongyue Silicone Rubber, Dongyue Silicone Fluid)
Silicone Elastomer Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 7.12 Billion |
| Market Size by 2032 | USD 12.64 Billion |
| CAGR | CAGR of 6.59% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | •By Product (High-temperature Vulcanize (HTV), Room-temperature Vulcanize (RTV), Liquid Silicone Rubber (LSR)) •By Application (Electrical & Electronics, Automotive & Transportation, Industrial Machinery, Consumer Goods, Construction, Others) |
| Key Drivers | • Increasing demand for high-temperature resistance materials which drives market growth. |
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Market Segmentation
By Product
In 2023, the largest market share, around 58%, was held by liquid silicone rubber (LSR). This is due to its excellent property profile, versatility, and great demand in various industries. LSR is a preferred material in various applications such as medical, automotive, electrical & electronics, and consumer goods because of its outstanding thermal stability, biocompatibility, flexibility, and durability. Low Suppressive Responder LSR (this is not harmful or contains any substance that can harm you and is achieved in a monomer, making it resilient [not easily killed] to sterilization) that-explains-why-its-prevalent-in-the-medical-field-for-implantables-permanent-structures, catheders, and medical tubing. Due to its outstanding high-temperature resistance and weatherability, LSR is used for many automotive parts and is well suited for seals, gaskets, and connectors in EVs and combustion engines.
By Application
In 2023, the share of the construction segment is the largest, i.e., around 44%. This is due to the increased use of silicone-based materials in bonding, sealing, and insulation applications. Due to their outstanding characteristics like good weatherability, UV stability, water resistance, and durability, they started to be used in structural glazing, curtain walls, expansion joint, and waterproofing systems. Along with the push for energy efficient buildings, there has been further push for the use of silicone–based sealants and coatings for improved insulation and energy efficiency building by sustainable construction materials. In addition, the high-performance construction materials market is stimulated by rapid urbanization and increasing infrastructure activities in emerging economies. To encourage the architecture community to adopt these new low-VOC and sustainable silicone elastomers, governments across the globe are implementing strident building codes and sustainability standards.
By Region:
In 2023, Asia Pacific recorded the largest share of this market, approximately 52%. The region is highly industrialized and has a very large manufacturing industry and strong core end-use industries, which also drive end-user demand, especially for the construction, automotive, electronics, and healthcare industries. This is majorly attributed to silicone elastomer manufacturers in the region and easy availability of raw materials at lesser prices. The construction industry has been favored under urbanizations, smart city initiatives, and infrastructure investments in China, India, and Southeast Asia, thus propelling the requirement for silicone-based sealants, adhesives & coatings. In addition, Japan, South Korea, and China are among the largest consumers of liquid silicone rubber (LSR) and high-consistency rubber (HCR) for applications in EV parts, 5G equipment, and medical-grade silicone goods in automotive and electronics sectors. Several factors have contributed toward such dominance in this region, such as the availability of leading electronics manufacturers and higher R&D investment in advanced silicone-based materials. Additionally, favorable government initiatives, a rise in disposable income & demand for high-performance materials are expected to boost the growth of silicone elastomer in the Asia Pacific.
Recent Developments
• In 2023, Dow Inc. announced the launch of a new line of high-performance silicone elastomers designed for use in medical devices and automotive applications. The new products feature improved temperature resistance and flexibility, addressing the growing demand for advanced materials in these sectors.
• In 2023, Wacker Chemie AG expanded its production capacity for liquid silicone elastomers (LIM) in Asia Pacific to meet the rising demand from the automotive and medical industries. The expansion is aimed at strengthening the company’s market presence in the region.
• In 2023, Momentive Performance Materials launched a series of environmentally friendly silicone elastomers with reduced carbon footprints. The company’s move aligns with global sustainability initiatives and aims to cater to industries seeking eco-friendly materials without compromising on performance.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Silicone Elastomer Market Segmentation, By Product
8. Silicone Elastomer Market Segmentation, By Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practice
12. Conclusion
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