Pune, India – The global conductive silicone rubber market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023 – 2035 according to Research Nester. The market is segmented on the basis of product type into thermal conductive, electricity conductive, and others, out of which, the electricity conductive segment is projected to occupy the largest share over the forecast period as this property of silicone rubber is beneficial in making parts of electric appliances. The growing application of electricity conductive silicone rubber in making wires is estimated to boost the segment growth.
The global conductive silicone rubber market is estimated to witness growth on the back of higher flexibility, better elasticity, resistance to corrosion, longer life, and electromagnetic shielding properties of silicone rubber. These are conductors of heat and electricity, but unlike metal conductors, they are highly flexible, making them optimum for making wires, and small machinery parts. The growing adoption of conductive silicone rubber in automotive industry for making parts of vehicle engine, is estimated to boost the market growth. Moreover, the growing production of automotive, backed by rising sales of vehicles, is estimated to boost the market growth. According to the report by the International Energy Agency (IEA), the global sale of cars crossed over 73 million in 2020.
On the basis of geographical analysis, the global conductive silicone rubber market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to hold the largest share over the forecast period, on account of the presence of major automobile manufacturers in developed countries, such as, US, along with rising production of automobiles in the region. More than 3 million cars were sold in the U.S. in 2020. The high disposable income of the people is another major factor, estimated to promote the market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
The various properties of conductive silicone rubber, such as, high elasticity, resistance to corrosion, flexibility, and electromagnetic shielding, make it the most optimum material for making wires and parts of electric machines. These properties make silicone rubber excellent for electronics, as it reduces chances of damage, and improves life of the devices. This is estimated to boost the market growth.
However, higher cost of conductive silicone rubber is expected to operate as key restraint to the growth of the global conductive silicone rubber market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global conductive silicone rubber market which includes company profiling of Specialty Silicone Products, Inc., Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, Stockwell Elastomerics, Inc., 3M, Novation Solutions, LLC, Momentive Performance Materials Inc., Solvay S.A., and The Dow Chemical Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global conductive silicone rubber market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.