The global silicone elastomers market revenue is expected to register a moderate CAGR over the forecast period. Superior properties of elastomers and increasing demand for silicone elastomers from the electrical & electronics industry are major factors driving growth of the target market over the forecast period.
The global silicone elastomers market report has been segmented on the type, application, and region.
Based on type, the global silicone elastomers market is segmented based on high temperature vulcanize, room temperature vulcanize, and liquid silicone rubber. The high temperature vulcanize segment is estimated to account for significant revenue share in 2017.
Based on application, the global silicone elastomers market is segmented based on electrical & electronics, automotive & transportation, industrial machinery, consumer goods, construction, and healthcare. The healthcare segment is expected to register highest CAGR over the forecast period.
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Based on region, the global market is segmented based on North America, Europe, Latin America, Asia Pacific and Middle East and Africa. Asia Pacific contributes for significant market share in terms of revenue in global silicone elastomers market and is expected to maintain its dominance over the forecast period. Furthermore, market in Asia Pacific register a highest CAGR over the forecast period. Increasing demand for silicone elastomers particularly from countries such as China and India, owing to the rapidly growing automotive and electrical & electronics industries, is major factor expected to drive growth of market in the region over the forecast period.
Some prominent players in the global silicone elastomers market are Dow Corning Corporation, Wacker Chemie AG, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., Ltd., KCC Corporation, China National Bluestar (Group) Co., Ltd., Reiss Manufacturing Inc., Mesgo S.P.A., Zhejiang Xinan Chemical Industrial Group Co., Ltd., and Specialty Silicone Products Inc.