Global silicone elastomer market forecast at $15 billion by 2032
The global demand for silicone elastomers is projected to experience a robust 10.3% annual growth, reaching a value of US$15.29 billion by 2032 according to Future Market Insights. This growth is primarily fueled by the escalating cost of natural rubbers, prompting increased adoption of synthetic rubbers within the silicone elastomers market. As industries shift away from natural rubbers due to their high prices, silicone elastomers have gained traction, especially in the industrial sector.
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