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Silicone Elastomers Market for Energy Market Share, Growth Forecast- Global Industry Outlook

Author : Rahul Varpe | Published Date : 2019-12-04 

"The healthcare industry is projected to register the highest CAGR in the silicone elastomers market during the forecast period, in terms of both volume and value."The silicone elastomers market is projected to grow from USD 6.38 billion in 2018 to USD 8.81 billion by 2023, at a CAGR of 6.7% between 2018 and 2023. The superior properties of silicone elastomers, aging population fueling the demand from the healthcare industry, and high demand for silicone elastomers from the electrical & electronics industry are driving the silicone elastomers market across the globe. However, stagnant growth in the developed countries is expected to act as a restraint for the silicone elastomers market during the forecast period.

The growth of the global healthcare industry plays a significant role in driving the silicone elastomers market. In this industry, silicone elastomers are used to make tubing for feeding, electrosurgical handpieces, test chambers & infusion sleeves, introducer tips & flexible sheaths, shunts & septum, ear plugs & hearing devices, and for the manufacturing of different types of seals, valves, stoppers, and clips. The global aging population is a major driver for the silicone elastomers market in the healthcare industry. Pacemaker and other devices are made by silicone elastomers.

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The aging population is prone to organ failure, cardiovascular diseases, and hearing ailments, which indirectly increases the demand for healthcare and medical equipment, where silicone elastomers are used in the manufacturing process. Most of these products are manufactured using medical-grade silicone elastomers. Thus, the medical application of silicone elastomers is directly influenced by the increasing demand for silicone elastomer-based products in the healthcare industry.

"Rising demand for silicone elastomers from the APAC region is a key factor driving the silicone elastomers market between 2018 and 2023."

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APAC is the largest silicone elastomers market. The growth in this region is mainly attributed to the high economic growth rate and heavy investments in the automotive & transportation, electrical & electronics, and healthcare industries. In the recent years, APAC has emerged as a major market for silicone elastomers because of the growing demand from China and India. The manufacturers of silicone elastomers are targeting this region, owing to the advantages of setting up production facilities, low cost of production, and the ability to better serve the local emerging markets. In addition, high domestic demand along with the easy availability of raw materials and low-cost labor also make APAC the most preferred region for producers of silicone elastomers.

Partial Chapter of the Table of Content:

Chapter 3         Silicone Elastomers Industry Insights

3.1    Industry Segmentation

3.2    Industry Size and forecast, 2013 - 2023

3.3    Industry ecosystem analysis

3.3.1     Vendor landscape

3.4    Raw material trends

3.5    Regulatory framework

3.6    Industry Impact forces

3.6.1     Growth drivers

3.6.1.1  Superior features

3.6.1.2  Growing application in healthcare

3.6.1.3  High demand from the electrical & electronics industry

3.6.2     Industry pitfalls and challenges

3.6.2.1  High production cost

3.7    Growth potential analysis

3.8    Porter’s analysis

3.9    Company market share analysis, 2015

3.10  PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/silicone-elastomers-market 
 

The key companies profiled in this market research report include Dow Corning (US), Wacker Chemie (Germany), Momentive Performance Materials (US), Shin-Etsu (Japan), China National Bluestar Silicones (China), KCC Corporation (South Korea), Reiss Manufacturing (US), Mesgo SpA (Italy), Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China), and Specialty Silicone Products (US).

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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