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3. Dow Inc. (US) and Momentive Performance Materials Inc. (US) are Leading Players in the Silicone Elastomers Market

In terms of value, the silicone elastomers market is estimated to grow from USD 8.6 billion in 2024 to USD 12.3 billion by 2029, at a CAGR of 7.4%. Rising demand for silicone elastomers from industries such as building & construction, foams, automotive & transportation, electrical & electronics, healthcare, consumer goods, and others for a variety of applications is leading the market. During the forecast period, this is anticipated to expand the silicone elastomers market even more.

The key players in this market are Dow Inc. (US), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (US), Shin-Etsu Chemical Co., Ltd (Japan), China National Bluestar (Group) Co., (China), among others. Players in the silicone elastomers market are adopting both organic and inorganic growth strategies to grow their regional and global presence within the market. These major players are continuously developing new products to serve to their customer needs. They are also aggressively acquiring other small companies to increase their market share within the global silicone elastomers market. In response to the growing demand for silicone elastomers in various applications, market participants are primarily emphasizing research and development efforts.

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Dow Inc.

Dow Inc. (US) is a global materials science company with a diverse portfolio spanning specialty chemicals, advanced materials, and plastics. The company has a strong presence in the silicone elastomers market. Dow Inc. offers silicone elastomers under the brand names DOWSIL and SILASTIC. It caters to diverse needs of customers in industries including automotive & transportation, building & construction, electrical & electronics, foam, healthcare, consumer goods, and others. The company offers all types of silicone elastomers solutions i.e., high temperature vulcanized, room temperature vulcanized and liquid silicone rubber. Dow Inc. strategic focus on research and development, coupled with a strong market presence, positions it as a key contributor to advancements in silicone elastomers, catering to the growing needs of various industries globally.

Momentive Performance Materials Inc.

Momentive Performance Materials Inc. (US) stands as a prominent global supplier of silicones and advanced materials, specializing in the silicone elastomers sector. Boasting a distinguished history in material science, Momentive Performance Materials Inc. is renowned for its innovative solutions across various industries, including automotive, aerospace, healthcare, and electronics. The company's silicone elastomers, known for their versatility and high performance, find applications in demanding environments. Momentive Performance Materials Inc. unwavering commitment to research and development ensures a continual evolution of its product portfolio, addressing customer needs for durability, adaptability, and quality. The company is focused on expanding its silicone elastomers segment to satisfy consumer demand. For instance, in February 2023, Momentive Performance Materials group Inc., a global high-performance silicones and specialty solutions company, announced its latest growth investment a new manufacturing facility in Rayong, Thailand. The new investment in Rayong will help to continue to serve customers around the world, and support the industries and development in Southeast Asia,” said Pawan Sherpuri, Regional Leader, Southeast Asia.

Related Reports:

Silicone Elastomers Market by Type (HTV, RTV, LSR), Process (Extrusion, Liquid Injection Molding, Injection Molding), End-Use Industry (Building & Construction, Electrical & Electronics, Automotive & Transportation), & Region - Global Forecast to 2029

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