Silicone Elastomers Market Worth 7.94 Billion USD by 2021

PUNE, India, August 25, 2016 /PRNewswire/ --

The report "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", Published by MarketsandMarkets, The global market size is projected to reach USD 7.94 Billion by 2021, at a CAGR of 6.49% between 2016 and 2021.

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Browse 156 market data Tables and 43 Figures spread through 168 Pages and in-depth TOC on "Silicone Elastomers Market"

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The superior properties of silicone elastomers such as high and low temperature resistance, oil resistance, excellent weather ability, and flame retardancy along with its increasing demand from the healthcare and electrical & electronics end-use industries drives the Silicone Elastomers Market. The demand for silicone elastomers from the automotive & transportation end-use industry drives the market in Asia Pacific.

The market for liquid silicone rubber to grow at the fastest rate 

Low viscosity, chemical stability, and electrical resistance make LSR the preferred silicone elastomer for various applications. The LSR market is projected register the highest CAGR of 6.74% during the forecast period due to its high demand from the automotive & transportation and healthcare end-use industries.

Extrusion process accounted for the largest share of the silicone elastomers market 

High production rates, short lead time, and per part price variation by complication of extrusion make it the preferred process. The extrusion process accounted for the largest share of the silicone elastomers market. The liquid injection molding process accounted for the second-largest share of the market.

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Asia-Pacific was the largest silicone elastomers market

Countries such as India and China have high demand of silicone elastomers due to rise in the use of vehicles and increasing number of manufacturing units. Countries such as Japan and South Korea have a well-established automotive & transportation industry. Japan in particular has a highly developed automotive & transporation end-use industry, enabling the country to export its manufactured automobiles to Indonesia.