$8.8 Billion Silicone Elastomers (HTV, LSR, RTV) Market - Global Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 1, 2018--The “Silicone Elastomers Market by Type (HTV, LSR, RTV), Process (Extrusion, Liquid Injection, Injection, Compression), End-use Industry (Transportation, Electronics, Healthcare, Consumer Goods, Industrial Machinery), and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The silicone elastomers market is projected to grow from USD 6.38 billion in 2018 to USD 8.81 billion by 2023, at a CAGR of 6.7% between 2018 and 2023.
The superior properties of silicone elastomers, aging population fueling the demand from the healthcare industry, and high demand for silicone elastomers from the electrical & electronics industry are driving the silicone elastomers market across the globe. However, stagnant growth in the developed countries is expected to act as a restraint for the silicone elastomers market during the forecast period.
The growth of the global healthcare industry plays a significant role in driving the silicone elastomers market. In this industry, silicone elastomers are used to make tubing for feeding, electrosurgical handpieces, test chambers & infusion sleeves, introducer tips & flexible sheaths, shunts & septum, ear plugs & hearing devices, and for the manufacturing of different types of seals, valves, stoppers, and clips. The global aging population is a major driver for the silicone elastomers market in the healthcare industry. Pacemaker and other devices are made by silicone elastomers.
The aging population is prone to organ failure, cardiovascular diseases, and hearing ailments, which indirectly increases the demand for healthcare and medical equipment, where silicone elastomers are used in the manufacturing process. Most of these products are manufactured using medical-grade silicone elastomers. Thus, the medical application of silicone elastomers is directly influenced by the increasing demand for silicone elastomer-based products in the healthcare industry.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Silicone Elastomers Market, By Type
7 Silicone Elastomers Market, By Process
8 Silicone Elastomers Market, By End-Use Industry
9 Silicone Elastomers Market, By Region
10 Competitive Landscape
11 Company ProfilesDow Corning Corporation Wacker Chemie AG Momentive Performance Materials Inc. Shin-Etsu Chemical Co., Ltd. KCC Corporation China National Bluestar (Group) Co., Ltd. Reiss Manufacturing Inc. Mesgo S.P.A. Zhejiang Xinan Chemical Industrial Group Co., Ltd. Specialty Silicone Products Inc.
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SOURCE: Research and Markets
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PUB: 10/01/2018 10:21 AM/DISC: 10/01/2018 10:21 AM