According to the recent study the Silicone Rubber Market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 5% to 7% from 2023 to 2028. Growth in this market is primarily driven by surge in the construction activities in developing region along with rising demand from automotive industry.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in silicone rubber market by product type (liquid silicone rubber, high consistency rubber, and fluorosilicone rubber), application (healthcare, transportation, electrical and electronics, construction, consumer goods, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Liquid silicone rubber is expected to remain the largest segment during the forecast period.”
Based on product type, the silicone rubber market is segmented into liquid silicone rubber, high consistency rubber, and fluorosilicone rubber. Lucintel forecasts that the liquid silicone rubber is expected to remain the largest segment as it delivers excellent heat and abrasion resistance, chemical stability, and electrical insulation properties as compared to others.
“Within the silicone rubber market, the automotive segment is expected to remain the largest application segment during the forecast period”
Based on application the automotive segment is expected to remain the largest segment over the forecast period because it is opted to manufacture automotive components, such as valve cover, gaskets, connectors, and engine covers.
“Asia Pacific will dominate the silicone rubber market in near future”
Asia Pacific is expected to remain the largest region over the forecast period due to increase in automotive production in countries like China, India, Japan, and Taiwan.
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Major players of silicone rubber market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. China National Bluestar, Mesgo, Momentive Performance Materials, Shin-Etsu Chemical, Dow Corning, KCC Corporation, Reiss Manufacturing, Stockwell Elastomerics are among the major silicone rubber providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/silicone-rubber-market.aspx or [email protected]