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Global silicone elastomers market forecast with a CAGR of 6.2% through 2024

  10/10/2019 - Akron, OH - The global silicone elastomers market will increase at a compound annual growth rate (CAGR) of 6.2% from 2019 to 2024 according to a new market report by Smithers. This high CAGR is due to the fact that silicone elastomers are expanding into new and relatively unsaturated markets across the next five years in key applications including automobiles, electronic equipment, medical and dental devices. Global demand will rise from 495,500 tonnes in 2019 to reach 668,100 tonnes in 2024; with growth especially strong in twin-pack room temperature silicone vulcanising (RTV2) and liquid silicone rubber (LSR) elastomer systems. In the short term silicone elastomer producers must face the problem of a historic lack of investment in production capacity for siloxane – the starting block for silicone elastomers. The result of this has been rising silicone elastomer prices and in particular shortages of high-consistency rubber (HCR), the most important type of silicone elastomer. China has long held a strong position in siloxane production, but now many smaller producers have been closed down by authorities, because they do not comply with the latest local environmental regulations. This is leading to a continuing serious shortfall. This will be eased towards the end of the Smithers five-year forecast period as several new large-scale investments in production capacity – announced in 2018 and 2019 – come online in both China and Europe. In spite of this short-term challenge, Smithers’ latest market report, The Future of Silicone Elastomers to 2024 forecasts that there will be multiple new applications for these materials. Among the key challenges are developing better heat and chemical resistance, especially for the automotive segment for wider use in under the-bonnet (hood) applications; including in the next generation of electric vehicles. The main material competition over this time will continue to come from thermoplastic elastomer formulations. Smithers’ analysis identifies the following emergent market opportunities for silicone elastomers through to 2024: Stretchable sensors for smart textiles – Modified polysiloxanes can be used to produce high-melt strength films that can be integrated into intelligent clothing to provide feedback and extra functionality to the use. Wearable tech revolution – Liquid silicone elastomers, including those with a strong colour gamut and phosphorescent colours; will continue to benefit from rising demand for smart watches and similar wearable technology devices. Bacteria-killing elastomers – Healthcare, laboratory and food industry applications are poised to benefit from a new suite of silicone elastomers with antimicrobial. Medical devices present the greatest potential, though this segment will demand the highest grade of elastomer; and will face long expensive testing and certification processes. High refractive index silicone elastomers – Formulations with a high refractive index will continue to see burgeoning demand as lighting systems continue to move to LED-based illumination; with an emphasis on purity and performance of the elastomers supplied. Electric vehicles – Batteries in automotive drive systems require protection from heat, greases, dirt and other contaminants – and silicone elastomers are a strong solution as they can combine this with electrical insulation. The wider use of full electric and hybrid vehicles will serve to strengthen demand in this area. Conductive silicones – Adding electrical conductivity to a silicone elastomer’s inherent durability and heat/chemical resistance is a solution increasingly being pursued by electrical device designers. It is essential to calibrate these to the device’s specification and function, and to gauge this against the performance requirements, especially if higher price fillers, such as copper or silver are employed.

Friday, October 18, 2019

Struktol's additives and technical solutions showcased on redesigned website - click to expand

CPI announces two distinguished leadership award winners - click to expand

Solvay’s Veradel PESU line in India comes on-stream - click to expand

Michigan Rubber Group announces November technical meeting - click to expand

Book of the Day - Resistance and Stability of Polymers - click to expand

CPI survey reveals strength of polyurethanes across U.S., Canada and Mexico - click to expand

Thursday, October 17, 2019

Center for the Polyurethanes Industry announces winner of the 2019 Polyurethane Award - click to expand

Lanxess introduces a vulcanization accelerator for all types of rubber - click to expand

ARPM unveils training module: Job Setup and Production Flow - click to expand

Dow expands Nordel EPDM portfolio - click to expand

Global agricultural tire market forecast at $7.5 billion by 2024 - click to expand

Wacker presents liquid and solid silicone rubber grades with enhanced product and processing properties - click to expand

Goodyear declares quarterly dividend - click to expand

Wednesday, October 16, 2019

Michelin introduces Endurance XT Silicone Beam wiper blade - click to expand

Adhesives and sealants market forecast to reach $73.8 billion by 2024 - click to expand

Huber Engineered Materials nearly completes Martinswerk expansion - click to expand

K Show 2019 opens today in Dusseldorf - click to expand

Gerlach opens office in Albuquerque, NM, to better serve North American market - click to expand

Arlanxeo illustrates the future of mobility solutions at K2019 - click to expand

Hexpol TPE launches circular TPEs at K2019 - click to expand

Tuesday, October 15, 2019

Michelin announces sport touring tire line-up for motorcycles and scooters - click to expand

Global automotive mold market expected to grow at a CAGR of over 7 percent through 2024 - click to expand

Orion Engineered Carbons appoints Lorin Crenshaw chief financial officer of the Orion group - click to expand

Collaboration brings new colors to Dow’s 3D-printable liquid silicone rubber - click to expand

Mid Atlantic Rubber and Plastics Group holds educational symposium in November - click to expand

Braskem's Delta PP plant remains on target for completion by first quarter of 2020 - click to expand

Monday, October 14, 2019

Toyo Tire U.S.A. Corp. to promote Michael Graber to VP of Sales - click to expand

The Philadelphia Eagles and Braskem announce results from 2018-2019 STEM Scholars Program - click to expand

Michelin recognized by EPA with 2019 SmartWay award - click to expand

Cabot Corporation receives fourth consecutive gold-level rating from EcoVadis - click to expand

Dunlop SP Sport Maxx run-flat tire chosen as factory standard for Lexus LS - click to expand

Yokohama Tire launches two new premium winter tires - click to expand

Market Reports

CPI survey reveals strength of polyurethanes across U.S., Canada and Mexico - click to expand

Global agricultural tire market forecast at $7.5 billion by 2024 - click to expand

Adhesives & sealants market forecast to reach $73.8 billion by 2024 - click to expand

Global automotive mold market is expected to grow at a CAGR of over 7% through 2024 - click to expand

Silicone surfactants market forecast to reach $2.5 billion by 2024 - click to expand

Global silicone elastomers market forecast with a CAGR of 6.2% through 2024 - click to expand

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