The silicone elastomers market is highly consolidated and the top five companies account for a share of more than 85%. Owing to low viscosity and high curing speed of LSR, the manufacturers prefer producing more LSR instead of HTV elastomers. The global market size of silicone elastomers is projected to reach USD 7.94 Billion by 2021, at a CAGR of 6.49% during the forecast period. The superior properties of silicone elastomers along with its increasing demand from the healthcare and electrical & electronics end-use industries are driving the market.

The report studies the key growth strategies adopted by market players between 2013 and 2016 to expand their presence and increase their share in the global silicone elastomers market. Momentive Performance Materials Inc. (U.S.), Wacker Chemie AG (Germany), Dow Corning Corporation (U.S.), Shin-Etsu Chemical (Japan), KCC Corporation (South Korea), China National Bluestar Co. Ltd. (China), Reiss Manufacturing Inc. (U.S.), Mesgo S.p.A (Italy), Zhenjian Xinan Chemical Industrial Group Co., Ltd. (China), and Specialty Silicone Products (U.S.) are the major active players in the silicone elastomers market.

New product launches and expansions were the main strategies adopted by the industry players to achieve growth in the silicone elastomers market. These strategies, together, accounted for a share of 84% of all the growth strategies adopted by market players. Momentive Performance Materials Inc. (U.S.), Wacker Chemie AG (Germany), and Dow Corning Corporation (U.S.) are some of the leading market players that adopted new product launches to expand their product portfolio. For instance, Dow Corning Corporation improved its LSR product portfolio under the Silastic brand. Wacker Chemie AG (Germany) expanded its silicone production unit in South Korea and opened a technical center in India.

Mergers & acquisitions, and partnerships, agreements & joint ventures were also some of the popular growth strategies adopted by the key market players. These strategies, together, accounted for a share of 17% of all the growth strategies between 2013 and 2016. Companies such as Wacker Chemie AG (Germany) and KCC Corporation (South Korea) are expanding their market reach by opening production facilities in developing countries to meet the rising demand of silicone elastomers. Dow Corning Corporation (U.S.) merged with Du Pont (U.S.) for joint functioning of silicone production, which will cause lesser investment for future projects. Wacker Chemie AG (Germany) signed an agreement with Silspek Rubber (Poland). Through this agreement Wacker gave its marketing rights to sell high temperature curing silicones in Poland.

Dow Corning Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), and Wacker Chemie AG (Germany), together, accounted for a share of 70% of the overall activities undertaken between 2013 and 2016.

Related Reports:

Silicone Elastomers Market by Type (High Temperature Vulcanized, Room Temperature Vulcanized, and Liquid Silicone Rubber), Process (Extrusion, Liquid Injection Molding, Injection Molding, and Compression Molding), End-use Industry - Global Forecast to 2021

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