Kenneth Research, in its repository of market research reports, has recently added a report on Conductive Silicone Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Conductive Silicone Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
The U.S. Market recovers fast; In a release on May 4th, 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Conductive Silicone Market products.
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The global Conductive Siliconemarket was valued at USD 3.18billion in 2016 and is projected to reach USD 5.85billionby 2025, growing at a CAGR of 7.00% from 2017 to 2025.
Silicone elastomers are in huge demand due to enhanced mechanical strength and electrical conductivity offered by these products. The growing application power generation and LED manufacturing is driving demand for conductive silicone. The per capita consumption is expected to remain highest in Asia Pacific.
1. Market Drivers
1.1 Growing demand for electronic components
1.2 Sustainable and efficient properties
2. Market Restraints
2.1 Rising prices of raw materials
2.2 Increasing competition from substitute products
The global Conductive Siliconemarket is segmented on the type, application, and region.
1. By Type:
1.1.1 Liquid Silicone Rubber
1.1.2 High Temperature Vulcanizing Elastomers
1.1.3 Low Temperature Vulcanizing Elastomers
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2. By Application:
2.1 Building and Construction
2.4 IT and Telecommunication
2.7 Power Generation and DIstribution
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. DOW Corning
2. Reiss Manufacturing
3. Wacker Chemie AG
4. Nusil Technologies LLC
5. Momentive Performance Materials
6. ACC Silicones
7. Shin-Etsu Chemical
8. Bluestar Silicones
9. KCC Corporation
12. Specialty Silicone Products Inc.
13. Master Bond Inc.
14. Rogers Corporation
15. Aremco Products Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Conductive Silicone Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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