The global conductive silicone rubber market is expected to reach USD 6.85 billion by 2022, according to a new report by Grand View Research, Inc. Growing application of conductive silicone rubber in electrical & electronics industry particularly in light of the growing industry in Asia is expected to be a key factor responsible for market growth.
Among industrial machines, oil & gas application is expected to witness fastest growth in terms of volume, growing at a CAGR of 8.6% from 2015 to 2022. Expansion of upstream petroleum sector in China, India and Brazil in light of favorable policy to promote new investments along with rising domestic demand is likely to augment market growth. Thermally conductive silicone rubber films find application in vacuum lamination machines for solar industry on account of exhibiting shock absorption, glass panel protection and stress balancing properties.
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Further key findings from the report suggest:
- Global conductive silicone rubber demand was 685.9 kilo tons in 2014 and is expected to reach over 1,100 kilo tons by 2022, growing at a CAGR of 7.1% from 2015 to 2022.
- Electrical products are expected to maintain over 30% of global industry volume in 2014. Growing importance of dielectric polymers in electronics industry on account of their high breakdown strength & reliability as compared to their ceramic counterparts will remain a favorable factor for market growth.
- Electronic & electrical applications of conductive silicone rubber were valued at over USD 600 million in 2014. In August 2013, Dow Corning Corporation launched thermally conductive rubber based adhesives for electronic applications for automotive, under the brand names, TC-2030 and TC-2035.
- North America accounted for over 15% of global revenue in 2014 and is expected to witness growth in light of growing automobile production in the U.S. and Mexico. Also the electronic industry in Asia is expected to be a major region contributing to market growth.
- Major market players include Wacker, Shin Etsu, Momentive, Saint Gobain, Dow Corning, Specialty Silicone Products, Inc., KCC Corporation and Mesgo S.p.A. Manufacturers have increased their expenditure towards incorporating nanomaterials as fillers to impart conductive characteristics to their finished product. In July 2013, J-Flex launched electrically conductive silicone aimed for acting as a low amperage conductor and providing protection against electrostatic discharge. production of vehicles.
- Government of India announced Draft National Chemical Policy in September 2013, aimed at increasing the country’s production output in global chemical industry from 3% in 2014 to 6% by 2020. This regulatory inclination is expected to force manufacturers to keep their units in vicinity thereby increasing demand for conductive silicon rubber.
Grand View Research has segmented the global conductive silicone rubber market on the basis of product, application and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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