Global Silicone Rubber Market is expected to reach USD 10.0 billion by 2020

Date: 2016-09-12

Silicone rubber is an elastomer (rubber-like material) composed of silicone—itself a polymer—containing silicon together with carbon, hydrogen, and oxygen. Silicone rubbers are widely used in industry, and there are multiple formulations. Silicone rubbers are often one- or two-part polymers, and may contain fillers to improve properties or reduce cost. Silicone rubber is generally non-reactive, stable, and resistant to extreme environments and temperatures from -55 °C to +300 °C while still maintaining its useful properties. Due to these properties and its ease of manufacturing and shaping, silicone rubber can be found in a wide variety of products, including: automotive applications; cooking, baking, and food storage products; apparel such as undergarments, sportswear, and footwear; electronics; medical devices and implants; and in home repair and hardware with products such as silicone sealants. Therefore, silicone rubber is widely used in food, health care, industrial, automotive, building and other fields. Based on different vulcanization temperature, silicone rubber can be divided into high-temperature vulcanized (HTV) silicone rubber and RTV silicone rubber, among them, HTV silicone rubber is mainly used in the automotive, industrial, medical and other fields, building is the largest market for RTV silicone rubber.

Global Silicone Rubber Market Share, by Applications, 2016

silicone-rubber

The global silicone rubber market was valued at approximately USD 7.2 billion in 2015, and its market size was more than 1.0 million tons. According to authoritative forecasts, the global silicone rubber market is expected to reach USD 10.0 billion by 2020, growing at a CAGR of 6.8% from 2016 to 2020, and market size will reach over 1.5 million tons. By the type, HTV silicone rubber occupied the largest market share in 2015, over 60%, and will grow at a CAGR of about 5.0% from 2016 to 2020. Based on the applications, health care will lead the market of silicone rubber. In the terms of region, Asia-Pacific is the biggest as well as the fastest-growing market for silicone rubber, accounting for a significant share of around 40.0% of the global market in 2015, and China and India are the leading countries and the fastest-growing markets across the globe in terms of market size in the silicone rubber market.

Some of key players on the market include Wacker Chemie AG (Germany), Dow Corning Corporation (U.S.), Bluestar Group (China), Shin-Etsu Chemical (Japan).

Read Full Report: http://www.gosreports.com/global-liquid-silicone-rubber-market-research-report-2016/

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 1-510-400-8520
Web: www.gosreports.com
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