Segmentation by Product Type (Thermal Conductive, Electricity Conductive, and Others); by End-Use (Automotive, Electrical & Electronics, Defense, Aerospace, Industrial Machines, and Others) – Global Demand Analysis & Opportunity Outlook 2030
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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.
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The global conductive silicone rubber market is further classified on the basis of region as follows:
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.
Our in-depth analysis of the global conductive silicone rubber market includes the following segments:
By Product Type
By End-Use
Growth Drivers
Challenges
July, 2021: Stockwell Elastomerics, Inc. to enter the silicone rubber market with its new product, Silicone Sponge Gaskets and Pads with ESD protection, available in 3 densities. The sponges are coated with T62 conductive coating.
January, 2021: The Silicone Division of Shin-Etsu Chemical Co., Ltd. announced the company’s new initiative towards achieving carbon neutrality.
January 2021: Novation Solutions, LLC, a leading producer of high-quality silicone dispersions, announced the launch of a new silicone rubber, PURmix, using Novation Si and Zeon Technologies.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The advantages of conductive silicone rubber over metallic conductors are estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2030.
Ans: High cost of conductive silicone rubber is estimated to hamper the market growth.
Ans: The market in the North America region is estimated to provide more business opportunities owing to the high production of automobiles in the region.
Ans: 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.
Ans: 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.
Ans: The market is segmented by product type, end-use, and by region.
Ans: The electricity conductive segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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