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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.

Wednesday, June 3, 2020

Rubber Division, ACS, announces June course and webinar schedule - click to expand

Arkema finalizes divestment of Functional Polyolefins business - click to expand

Engel and Hack Formenbau collaborate against COVID-19 - click to expand

Global automotive tire market forecast with a CAGR of 4.1 percent through 2027 - click to expand

PolymaxTPE announces laboratory line expansion - click to expand

Tuesday, June 2, 2020

GRI puts safety at the fore in Sri Lanka production plants - click to expand

Pirelli introduces Cinturato P7 tire with intelligent compound - click to expand

European all season tire market forecast with a CAGR of 9 percent through 2024 - click to expand

Cooper Tire to restart production at El Salto, Mexico, tire manufacturing facility - click to expand

JK Tyre begins operations in the U.S. as Western Tires, Inc. - click to expand

Orion Engineered Carbons breaks ground on logistics center in Germany - click to expand

Monday, June 1, 2020

Goodyear and Enovos will build two photovoltaic power stations in Luxembourg - click to expand

Active Minerals announces completion of Gordon, GA, facility expansion - click to expand

Thermoplastic and Silicone Elastomers U.S. 2020 Summit takes place virtually - click to expand

Lubrizol presents webinar on Estane thermoplastic polyurethane - click to expand

Yokohama's Virginia tire plant reopens - click to expand

Rubber Division, ACS, 197th Technical Meeting presentations available - click to expand

Friday, May 29, 2020

Global elastomeric coatings market forecast with a CAGR of 15 percent through 2026 - click to expand

Book of the Day: Chemical Resistance Guide for Elastomers IV - click to expand

Swan Chemical named North American distribution partner for Bolder Industries’ BolderBlack - click to expand

CCSi announces expanded capabilities and price matching policy - click to expand

Goodyear blimp returns to Europe - click to expand

Global thermoplastic polyurethane market expected to rise at a steady 6.8 percent CAGR through 2024 - click to expand

Thursday, May 28, 2020

Sibur creates sustainable development committee - click to expand

Global structural adhesives market to surpass $7 billion by 2024 - click to expand

Goodyear to donate the cost equivalency of 100 meals to Feeding America for every tire sold - click to expand

EMT technology available in North America through 2BA North America - click to expand

Disposable medical gloves market size forecast to reach $8.73 billion by 2025 - click to expand

Energy Estate and InfraCo partner to help solve waste tire mountains in Australia and New Zealand - click to expand

Wednesday, May 27, 2020

Borealis discontinues world scale polyethylene project in Kazakhstan - click to expand

Birla Carbon is first carbon black multinational to receive IATF certification across all manufacturing plants - click to expand

Huntsman brands spray polyurethane foam business as Huntsman Building Solutions - click to expand

Ashland board declares quarterly dividend - click to expand

Bridgestone announces release of Firestone FD692 drive tire - click to expand

Global sealants market projected to grow by $4.9 billion - click to expand

Market Reports

Aircraft interior elastomers market forecast at $45.5 million in 2025 - click to expand

Global automotive tire market forecast with a CAGR of 4.1 percent through 2027 - click to expand

European all-season tire market forecast with a CAGR of 9 percent through 2024 - click to expand

Global elastomeric coatings market forecast with a CAGR of 15 percent through 2026 - click to expand

Disposable Medical Gloves Market size is forecast to reach $8.73 billion by 2025 - click to expand

Global thermoplastics polyurethane market is expected to rise at a steady 6.8% CAGR through 2024 - click to expand

Global structural adhesives market to surpass $7 billion by 2024 - click to expand

Sealants market worldwide is projected to grow by $4.9 billion - click to expand

Global silicone market is estimated to register a CAGR of 5.65 percent through 2023 - click to expand

Medical glove market forecast with a CAGR of 15 percent through 2025 - click to expand

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