LONDON--(BUSINESS WIRE)--The global silicone elastomers market size is poised to grow by USD 2.40 billion during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The increasing demand for hip and knee implants will drive the growth of the silicone elastomers industry during the forecast period. One of the main reasons for this is that consumers prefer hip and knee implants as a conservative alternative to total joint replacement. The aging demographic is experiencing rising incidences of rheumatoid arthritis, which will also contribute to the demand for hip and knee implants. This market is poised for even further growth during the forecast period due to growing awareness of implant procedure technology and the launch of new and innovative hip and knee orthopedic implants.
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Report Highlights:
- The major silicone elastomers market growth came from the High temperature vulcanized (HTV) silicone elastomers segment. One of the main reasons for this is the increasing demand for high-performance vehicles from APAC, which has elevated the demand for silicone elastomers.
- APAC was the largest silicone elastomers market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the increasing number of infrastructural projects and construction activities.
- The global silicone elastomers market is fragmented. Avantor Inc., CHT Group, Continental AG, Dow Inc., DuPont de Nemours Inc., KC Co. Ltd., Momentive Performance Materials Inc., Rogers Corp., Shin-Etsu Chemical Co. Ltd., and Wacker Chemie AG, are some of the major market participants. To help clients improve their market position, this silicone elastomers market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global silicone elastomers market 2020-2024 is expected to have neutral impact. As the pandemic spreads in some regions and plateaus in other regions, we continue to re-evaluate the impact on businesses and update our report forecasts.
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Silver ion-based Silicone Elastomers will be a Key Market Trend
People are looking for silicone elastomers that are versatile, adaptable, and prevent the growth of bacteria and microbes. Silver ion silicone elastomers have all these properties. They are widely used in healthcare and medical devices, beverage manufacturing, pet food production, food processing and foodstuff production, and agricultural activities. This trend is expected to contribute to the growth of this Silicone Elastomers market during the forecast period.
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Silicone Elastomers Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist silicone elastomers market growth during the next five years
- Estimation of the silicone elastomers market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the silicone elastomers market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of silicone elastomers market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- HTV - Market size and forecast 2019-2024
- LSR - Market size and forecast 2019-2024
- RTV - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Construction - Market size and forecast 2019-2024
- Automotive - Market size and forecast 2019-2024
- Electrical and electronics - Market size and forecast 2019-2024
- Consumer goods - Market size and forecast 2019-2024
- Industrial machinery - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Avantor Inc.
- CHT Group
- Continental AG
- Dow Inc.
- DuPont de Nemours Inc.
- KC Co. Ltd.
- Momentive Performance Materials Inc.
- Rogers Corp.
- Shin-Etsu Chemical Co. Ltd.
- Wacker Chemie AG
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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