Silicone in Electrical and Electronics Market Overview:
Global Silicone in Electrical and Electronics Market size was valued at $1,708 million in 2015, and is expected to reach $2,644 million by 2023, supported by a CAGR of 6.4% during the forecast period 2017 to 2023. Silicones are known as polysiloxanes that comprise a chain of alternating silicon & oxygen atoms. These are heat-resistant and rubber-like compounds, which are included in thermal & electrical insulation applications. Moreover, silicon rubbers are acknowledged in electronics industry, owing to its application of sealing, gasketing, and affixing components. In addition, low toxicity, electrical properties, and high purity are some of the advantages of silicones.
Silicone in Electrical and Electronics Market Segmentation
The global silicone in electrical and electronics market is segmented based on type and end-use industry. Based on the type, it is classified into fluids, elastomers, resins, and gels. Further, based on end use, it is categorized into automotive, consumer electronics, telecommunications, and others.
The demand for silicone in the consumer electronics has increased, owing to the sealing characteristics of silicone adhered to glass & anodized aluminum and electromagnetic shielding property. In addition, silicone used as sealants in electronics is an excellent product for general weatherproofing applications. Moreover, the global silicone in electrical and electronics market is driven by its characteristics as a neutral and one-part adhesive/sealant for novel electronics. Silicones have low intermolecular forces and do not change much with temperature. Consequently, viscosity, mechanical properties, dielectric properties, and many physical properties are not affected over a wide range of temperature.
The industry offers various opportunities to the market players, owing to rapid growth in the global economy and disposable incomes. Increase in use of silicone in electrical and electronics industry and growth in electronics industry specifically in China and India are some of the key aspects that augment the market growth. In addition, silicone elastomers are expected to witness rapid adoption in electrical and electronic applications, owing to its properties, such as high thermal conductivity, exceptional weatherability, easy to fabricate or process, high gas permeability, outstanding electrical insulating properties, and lower flammability. However, undefined regulatory guidelines and fluctuating silicone prices across Middle East and African countries are anticipated to hamper the market growth during the forecast period.
Top Investment Pockets, By End-Use Industry
Silicone in consumer electronics industry offers the maximum market potential in the global silicone in electrical and electronics industry, owing to the rapid growth of electronics industry. Increased need for silicone sealants in electronics industry for its higher elongation and higher strength characteristics makes it ideal for sealing assemblies. Moreover, rapid growth of electronics industry, particularly in the BRIC region (Brazil, Russia, India, and China), is another key factor anticipated to fuel the demand for silicones.
Silicone in Electrical and Electronics Top Investment Pockets
Silicone in Electrical and Electronics Market Share, By Type, 2015 (%)
The global silicone in electrical and electronics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for a considerable share of the total revenue in 2015, followed by North America and Europe. The developing countries in Asia-Pacific, such as Korea, China, and India, are anticipated to witness a significant growth rate, owing to rise of electronics industry.
Key players have largely invested in R&D activities to develop advanced products to cater to the requirements of the market. The key players operating in the global silicone in electrical and electronics market include Silchem Inc., ICM Products, Inc., Speciality Silicone Products Incorporated, Wacker-Chemie GmbH, Evonik Industries AG, Hutchinson, Kemira Oyj, Quantum Silicones, Kaneka Corporation, and The Dow Corning Corporation.
The other players in the value chain (profiles not included in the report) include Mesgo S.P.A., Zhejiang Xinan Chemical Industrial Group Co., Ltd., Reiss Manufacturing Inc., KCC Corporation, Shin-Etsu Chemical Co., Ltd., Momentive Performance Materials Inc., Ashland Incorporated, CRI-SIL Silicone Technologies, LLC., CSL Silicones Incorporated, and Elkay Silicones.
Key Benefits of Silicone in Electrical and Electronics Market:
- The report provides an extensive analysis and qualitative & quantitative analysis of the current trends, future estimations, and opportunities from 2015 to 2023 of the global silicone in electrical and electronics market.
- It offers comprehensive analysis of North America, Europe, Asia-Pacific, and LAMEA to understand the regional trends.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Extensive analysis is conducted by following key product benchmarking, positioning, and monitoring the top competitors.
- The report provides extensive qualitative insights on the significant segments or regions.
- It provides key insights on the strategic analysis of various companies and the value chain analysis of silicone in electrical and electronics industry.
Silicone in Electrical and Electronics Market Key Segments
By End Use Industry
- Consumer Electronics
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA