H1 2023: The major players of Silicone Rubber in H1 2023 were Dongjue Silicone (Nanjing) Co., Ltd, Shin-Etsu Chemical Co., Ltd., and Dow Silicones Corporation (Formerly Dow Corning). In the month of March 2023, Shin-Etsu Chemical, launched a new type of silicone rubber for molding am ideal as an insulation material for high-voltage cable for further application in automotive. Due to strong demand from the downstream automotive industry, silicone rubber prices in the Asia-Pacific area rose steadily during the first three months of 2023. The observed surge was caused by a significant increase in the industrial output and sales of the automotive industry. Silicone Rubber market momentum was positive during April as factory production surged in May in nations like South Korea. Increase in the production of electronic items and automotive components were the primary factors for this abrupt spike. Promising trends in capital spending and retail sales were observed in South Korea. However, in the end of May, Silicon rubber prices fell in South Korea and Japan. The demand for Silicone Rubber decreased as the downstream automotive and construction sectors underperformed in terms of output and market performance. Also, Silicone Rubber production costs also declined, which eventually resulted in a decline in the product's market value in South Korea.
The Asia Pacific Silicone Rubber market stood at nearly 610 thousand tonnes in 2022 and is expected to grow at a healthy CAGR of 4.82% during the forecast period until 2032.
Silicone rubber compounds have a variety of benefits over traditional organic rubbers in addition to possessing properties of both inorganic and organic materials. Silicone rubbers are used extensively in the automobile sector due to their outstanding heat and cold resistance, excellent chemical stability, and flame retardancy. A few examples of silicone rubber's uses in the automotive sector are exhaust pipe hangers, hoses, wiper blades, airbags, CVJ boots, bellows, connector seals, and gaskets. Silicon rubber is also used in the medical field for a variety of silicone medical assemblies and components, including ear plugs, balloon catheters, feeding tubes, electrosurgical handpieces, infusion sleeves, test chambers, introducer tips, flexible sheaths, wire/fluid-path coextrusions, airways, and electrosurgical handpieces.
However, the largest market diver for silicon rubber is the automotive industry. Silicone rubber's exceptional qualities like because to its exceptional properties, including high-temperature resistance, electrical insulation, chemical resistance and ability to withstand severe temperatures enable it to prolong the service life of automotive assembly. The growing popularity of electric vehicles (EVs) is another factor driving the silicone rubber market. Silicone rubber is frequently used in the production of EV parts including battery packs, charging cables, and connections. Through various incentives and subsidies, governments are promoting the usage of electric vehicles, which is boosting demand for EV parts like silicone rubber. Future years are projected to see greater demand for silicone rubber in the EV industry due to the growing popularity of electric vehicles and the growing trend towards sustainable transportation. The demand for Silicone Rubber in the region would also increase as a result of industrialization, the expansion of the construction industry in developing nations like India, and favorable government policies towards the construction of buildings and the development of infrastructure. Owing to these factors, the Silicone Rubber market is expected to reach 970 thousand tonnes in 2032 in the Asia Pacific region.
The silicone rubber market in the Asia Pacific region is divided into three grades: High Consistency Rubber (HCR), Liquid Silicone Rubber (LSR), and Others. Although, HCR is the most prominently used grade of the rubber. HCRs have strong mechanical qualities and low modulus in comparison to other elastomer systems, making them ideal for a variety of applications, including extruding tubing, compression of moulding parts, and calendaring sheets Since liquid silicone rubber is so adaptable, it is a staple in many markets, including those that manufacture gaskets and other hardware, consumer electronics, healthcare items, automotive components, and electronics.
Regionally, the Asia Pacific region is dominating the Silicone Rubber market followed by Europe. Asia Pacific held a market share of approximately 42% in 2022. Geographically, the Silicone Rubber market is divided into China, Japan, South Korea, India, Thailand, and Rest of APAC. The Asia Pacific market is mainly driven by the high demand from developing nations like China and India. The projected period is expected to see an increase in demand for silicon rubber as a result of the growth of the automotive sector across a number of Asian countries, including China, Japan, and India.
Based on the end-user industry, the Asia Pacific Silicone Rubber market is segmented into Automotive, Construction and Buildings, Medical & Healthcare, Electrical & Electronics, and Others. The Automotive and Construction industries are dominating the Silicone Rubber market and cumulatively captured more than 55% of the market in 2022. The automotive industry is anticipated to maintain its dominance in the forthcoming years owing to the growing population in developing nations like India.
Major players in the production of Asia Pacific Silicone Rubber are Dongjue Silicone (Nanjing) Co., Ltd, Shin-Etsu Chemical Co., Ltd., Dow Toray Co., Ltd, Dow Silicones Corporation (Formerly Dow Corning), Wacker Chemie, Momentive Performance Materials, Wynca tinyo silicone co., ltd, Jiangxi Elkem Xinghuo Silicones Co., Ltd., Genvan Silicones, and Elkem Silicones Guangdong Co., Ltd.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Silicone Rubber which covers production, demand and supply of Silicone Rubber market in the globe.
• To analyse and forecast the market size of Silicone Rubber
• To classify and forecast Asia Pacific Silicone Rubber market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Silicone Rubber market in the globe.
To extract data for Asia Pacific Silicone Rubber market, primary research surveys were conducted with Silicone Rubber manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Asia Pacific Silicone Rubber market over the coming years.
ChemAnalyst calculated Silicone Rubber demand in the globe by analyzing the historical data and demand forecast which was carried out considering the demand for Silicone Rubber by the end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Silicone Rubber manufacturers and other stakeholders
• Organizations, forums and alliances related to Silicone Rubber distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Silicone Rubber s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Asia Pacific Silicone Rubber s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
610 thousand tonnes
Market size Volume by 2032
980 thousand tonnes
Growth Rate
CAGR of 4.82% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Grade, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape,
Segments covered
By Grade: [High Consistency Rubber (HCR), Liquid Silicone Rubber (LSR), and Others]
By End-Use: (Automotive, Construction and Buildings, Medical & Healthcare, Electrical & Electronics, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
China, Japan, South Korea, India, Thailand, and Rest of APAC
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Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What was Asia Pacific market size of Silicone Rubber in terms of volume in 2022?
Ans:
The Asia Pacific market size of Silicone Rubber has grown significantly in the historic period of 2015-2022 and reached nearly 610 thousand tonnes in 2022.
Q2.
Which end-use industries are the major consumers of the Asia Pacific Silicone Rubber market?
Ans:
The Automotive, Construction and Buildings, Medical & Healthcare, Electrical & Electronics industries are the major consumers of the Silicone Rubber market.
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