Smithers Rapra forecasts the silicone elastomers market to grow at a CAGR of 6% to 2021

While relatively small in size, the global market for silicone elastomers is one of the world’s most strategically important markets.

Smithers Rapra’s new report, The Future of Silicone Elastomers to 2021 states that end use markets such as electric/electronic, medical and healthcare and consumer products are performing well. Newer markets such as oil and gas exploration, and, certain miscellaneous markets are starting to show positive growth.

The four principal processes for producing silicone elastomers are as follows:

  • HTV (High temperature vulcanising, sometimes referred to as heat cured rubber (HCR) and sometimes as high consistency rubber)
  • RTV-1 (Room temperature vulcanising, single component)
  • RTV-2 (Room temperature vulcanising, two component)
  • LIM (Liquid injection moulding; sometimes referred to as liquid silicone rubber (LSR) since this is the product form used for this process)

HTV represents the largest market with 60% share of the 2011 consumption amounting to 186 thousand tonnes. Growth in this material and process group will continue to grow very slightly reaching a consumption of 300 thousand tonnes in 2021, with a 2016-21 CAGR of fractionally under 5%, but occupying a market share of 54%.

In this day and age, silicone elastomers are playing a continuous and increasingly important role in all aspects of both industry and in the everyday life of the world’s population. Their special properties ensure that they will continue to be increasingly in demand for a wide range of end-use applications, which cannot be fulfilled by conventional carbon-based elastomers.

Patrick Ellis author of the report

The global market for silicone elastomers is considered to have grown from 310 thousand tonnes in 2011 to 391 thousand tonnes in 2015, with a compound average growth rate (CAGR) of 6%. It is estimated that it will grow to just under 558 thousand tonnes by 2021.

The Future of Silicone Elastomers to 2021 is guided by primary research and supported by extensive industry data, both of which underpins our appraisal of existing market conditions and our forecasting. The primary research was based on interviews with industry personnel across the value chain, including leading suppliers, manufactures and end users. Discussions with industry influencers supplemented this research. Secondary research was founded on an extensive literature review of market and company reports, magazines and journal abstracts, trends, and market information.         

The Future of Silicone Elastomers to 2021 is available for £4,200.
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