Silicone Elastomers Market

Dow Corning (US) and Wacker Chemie (Germany) are the Leading Players in the Silicone Elastomers Market

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. Asia Pacific (APAC) is the largest consumer of silicone elastomers. High domestic demand along with the easy availability of raw materials and low-cost labor make APAC the most attractive destination for silicone elastomers manufacturers. The increasing use of silicone elastomers in various end-use industries such as automotive & transportation, electrical & electronics, healthcare, consumer goods, and industrial machinery also contributes to the growth of the market in this region.

Dow Corning (US), Wacker Chemie (Germany), Momentive Performance Materials (US), Shin-Etsu (Japan), China National Bluestar Silicones (China), and KCC Corporation (South Korea) are the leading players operating in the silicone elastomers market. These players adopted the strategies of new product launches, expansions, partnerships, agreements & joint ventures, and mergers & acquisitions between 2015 and August 2018 to strengthen their position in the silicone elastomers market and cater to the customer requirements. New product launches accounted for a share of 56% of the total growth strategies adopted by the key market players between 2015 and August 2018.

To know about the assumptions considered for the study download the pdf brochure

Wacker Chemie AG provides specialty chemical products, worldwide, with over 3,000 silicone products. The company operates through six business segments, namely, Wacker Silicones, Wacker Polymers, Wacker Polysilicon, Siltronic, Wacker Biosolutions, and others. Silicone-based products account for 80% of the company’s sales. The Wacker Silicones segment offers silicone fluids and emulsions, resins, elastomers, sealants, silanes, and pyrogenic silica, which are primarily used as starting materials in the production of silicones. The company operates in more than 25 production sites in Europe, Asia, and the Americas, selling its products in more than 100 countries. The company has been actively involved in new product launches in the silicone elastomers market. For instance, in July 2018, the company launched ELASTOSIL R plus 4001 and ELASTOSIL R plus 4350/55, a heat-resistant high consistency silicone rubber. These are suitable for manufacturing membranes and seals for applications in various industries such as sensitive applications in the food industry.

Moreover, in November 2017, the company launched ELASTOSIL LR 5040 for baby-care, food-contact, and medical applications. Through this, the company expanded its LSR product portfolio to cater to various industries.

Dow Corning is a global silicone products manufacturer. The company was established as a joint venture between The Dow Chemical Company (US) and Corning Inc. (US). As of June 2016, the company operated as a wholly owned subsidiary of Dow Chemical. It is engaged in the manufacturing and distribution of silicones and silicon-based products and technology. The company offers more than 7,000 products and services. It offers liquid silicone rubber products for construction, energy, electronics, beauty & personal care, healthcare, transportation, manufacturing, textiles, paper, paints & coatings, and other processing industries. It is a global specialty chemical producer, which sells its products directly to the end users of silicone elastomer materials. In June 2018, the company launched SILASTIC smart silicone elastomer for the automotive industry. In addition, in April 2018, the company launched three LSR type of silicone elastomers, which include two grades of its QP1-33XX and new QP1-5040 self-adhesive LSR grade. This is expected to boost the demand for silicone elastomers in the healthcare industry.

Related Reports:

Silicone Elastomers Market by Type (HTV, LSR, RTV), Process (Extrusion, Liquid Injection, Injection, Compression), End-use Industry (Transportation, Electronics, Healthcare, Consumer Goods, Industrial Machinery), and Region - Global Forecast to 2023

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
CH 3066
RI Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Silicone Elastomers Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2021 MarketsandMarkets Research Private Ltd. All rights reserved