The size of the silicone elastomers market at a projected $8,3445 million in 2021, which will advance at a growth rate of almost 8% in the near future, to reach about $16,425 million by 2030. The industry is driven by the high requirement for silicone elastomers in the electrical & electronics sector, their better properties, and an elderly population, which is powering product requirements in the healthcare sector.

In 2021, construction had the largest share, at 42%, and it will maintain this position in the years to come. Silicone elastomers play an indispensable role in a diversity of building materials and equipment, like assembled building elements. Since the emphasis on enhanced construction eminence is rising, the competition is increasing in a more and more price-sensitive market. Concurrently, building companies must keep to the ever-stricter construction quality guidelines.

The silicone elastomers market is likewise driven by the high demand for these materials from the electronics and electrical industry. A diversity of grades is offered to offer flame retardation, heat resistance, low volatility for delicate components, protection from moisture, as well as adhesion to the variability of surfaces.

The automotive & transportation industry had the second -largest share in the silicone elastomers market, of over 20%, in 2021. The automobile industry, which produces around 90 million vehicles every year, is constantly inventing and demanding new high-performance resources both under the hood and on other parts of automobiles. Since of the necessity for higher air pressure, superior water flow, and powerful fuel injection, and use of corrosive fluids, cutting-edge automotive parts are being intended.

HTV dominated the demand with around 60% share global silicone elastomers market in 2021. HTV elastomers are extensively employed in munitions, aerospace, automotive, fine chemicals, construction, food processing, electrical & electronics, and numerous sectors. This is mostly because of their extraordinary temperature and age confrontation qualities, as they are constructed of reactive silicone gums or straight chains of macromolecules with a high molecular weight and a diversity of reactive groups.