Global Silicone Elastomers Market By Product (HTV, RTV, LSR), By Application (Electrical & Electronics, Automotive & Transportation, Industrial Machinery, Consumer Goods, Construction) Expected to Reach USD 10.02 Billion in 2022: Grand View Research, Inc.
Global Silicone Elastomers Market is expected to reach USD 10.02 billion by 2022, according to a new study by Grand View Research, Inc. Growth of key end-use industries such as construction, automotive and electrical & electronics, particularly in emerging markets of Latin America and Asia Pacific is expected to remain a key driving factor for the market growth. Increasing healthcare expenditure in emerging markets coupled with presence of sophisticated healthcare infrastructure in developed economies is also expected to fuel silicone elastomers demand over the forecast period. High production cost is expected to remain a key challenge for market participants over the next seven years. High temperature vulcanize (HTV) was the leading product segment and accounted for 60% of total market volume in 2013. HTV is expected to continue its dominance over the forecast period. RTV is expected to witness the highest growth of 6.0% over the next seven years. Silicone can be manifested in various other forms such as adhesives, sealants, coatings, oils, lubricants and resins. These materials can be tailored to specific performance requirements. View summary of this report analysis/silicone-elastomers-market
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