Silicone Elastomers Creating a Niche and Expanding High-Temperature Silicone Market
Bangalore, India: With its recently published study “Global High-Temperature Silicone Market: Drivers, Opportunities, Trends, and Forecasts up to 2022”, Infoholic forecasts that the global market will continue to grow owing to increasing penetration of high-temperature silicone in the underdeveloped and developing countries. The high-temperature silicone elastomers segment was the largest contributor in the market due to its various applications in the automotive and construction sector. Increasing purchasing power and growing acceptance among consumers have led to the rise in the demand for high-temperature silicone. Government regulations on the use of low VOC products have further added to the market growth. This pattern is expected to continue during the forecast period 2016–2022 to increase high-temperature silicone market at a CAGR of 6.1% taking it to $2.28 billions by 2022.
The advancement in electronic devices and growing concern over the thermal and electrical resistance of products are further driving the market demand. Increasing application of high-temperature silicone in the construction coupled with booming construction industry has increased the demand. Premium prices restrict the market of high-temperature silicone in the low-income economies, though, the situation is expected to change and the market will show a high growth rate during the forecast period.
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The automotive sector is one of the major contributors to the high-temperature silicone market. This is largely because of high demand in the developing countries such as China and India, with an increase in manufacturing base and higher economic growth. This trend is expected to continue with the automotive sector due to consistent contribution of more than 20% of the market share.
Several alternatives such as polyurethane, epoxy, polyethylene, among others are available in the market, which has led to increased competition for high-temperature silicone, especially in the elastomers segment. Further, the relatively lower price of the alternatives has led to the increased usage in the less per capita income countries, further restricting the usage of high-temperature silicone.
“High-temperature silicone is a subset of silicone market, which has a high operating temperature (above 150°C). Silicone elastomers and coatings have wide applications and thus constitute major market share. Green and environment-friendly chemical trend is driving the market growth for them. Asia Pacific currently dominates the high-temperature silicone market owing to higher per capita income and increasing acceptance among consumers, with maximum contribution coming from China.” – Susmita Das, Research Analyst.
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Key insights of the report
- Global high-temperature silicone market has been analyzed based on product
- High-temperature silicone elastomers
- High-temperature silicone coatings
- High-temperature silicone sealants & adhesives
- High-temperature silicone industrial plastics
The study has a classification of end-user application
- Electrical & Electronics
- Industry outlook: market trends and drivers, restraints, and opportunities