The global conductive silicone rubber market is estimated to grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the various advantages provided by silicone rubber, over traditional metallic conductors, such as, higher flexibility, resistance to corrosion, elasticity, longer life, and excellent electromagnetic shielding. Conductive silicone rubber is a good conductor of electricity as well as heat, which makes it excellent for application in electronic appliances, automobiles, and heavy-duty machines. The growing adoption of conductive silicone rubber over metal conductors to make wires, parts of vehicles, and machinery, is the primary growth driver estimated to boost the market development. The growth of the market is also expected to be propelled by the growing production of automobiles across the globe. According to the data presented by the International Energy Agency (IEA), over 73 million cars were sold in 2020, which is estimated to cross 75 million in 2021. The growing sale of automobiles, is estimated to fuel the market growth. Moreover, the increasing application of conductive silicone rubber in flexible electronics is further expected to boost the market growth.
The market is segmented by product type into thermal conductive, electricity conductive, and others, out of which, the electricity conductive segment is anticipated to hold the largest share in the global conductive silicone rubber market over the forecast period on account of growing application electricity conducting material in electric appliances. Owing to the higher flexibility and elasticity of conductive silicone rubbers, there application is estimated to significantly increase in electronics. This is estimated to boost the market growth. CLICK TO DOWNLOAD SAMPLE REPORT
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
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 Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing electronic manufacturing in the region. Moreover, the increasing application of silicone rubbers in electronic appliances is anticipated to boost the market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of high production of automobiles in the region. More than 3 million cars were sold in the U.S. in 2020. In addition to this, the growing adoption of electric cars in the region, is estimated to boost the market growth.
The global conductive silicone rubber market is further classified on the basis of region as follows:
Our in-depth analysis of the global conductive silicone rubber market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The advantages of conductive silicone rubber over metallic conductors are estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2030.
High cost of conductive silicone rubber is estimated to hamper the market growth.
The market in the North America region is estimated to provide more business opportunities owing to the high production of automobiles in the region.
The major players in the market are Specialty Silicone Products, Inc., Shin-Etsu Chemical Co., Ltd., Evonik Industries AG, 3M, BASF SE, Momentive Performance Materials Inc., Solvay S.A., and The Dow Chemical Company.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, end-use, and by region.
The electricity conductive segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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