Silicone Elastomers Market Outlook 2024–2034 – Forecast, Drivers & Growth Trends
- zhang Claire
- Jul 1, 2025
- 1 min read
Executive Summary
The global silicone elastomers market is projected to grow from USD 7.41 B in 2023 to USD 13.94 B by 2034 at a CAGR of ≈5.9%, driven by expanding demand in automotive, electronics, and healthcare sectors.
Market Size & Growth Forecast
- 2023: USD 7.41 billion → 2034: USD 13.94 billion
- APAC grows fastest: from USD 2.87 B to USD 5.42 B (CAGR ≈6.6%)
- Europe projected to reach USD 4.08 B by 2034, CAGR≈5.4%
Key Drivers & Challenges
Drivers:
- Automotive electrification
- Electronics miniaturization
- Healthcare device usage
Challenges:
- Raw material price volatility
- Competition from thermoplastic elastomers
Regional Insights
Region | 2024 Size | 2034 Projection | CAGR |
Asia‑Pacific | USD 2.87B | USD 5.42B | ≈6.6% |
Europe | USD 2.41B | USD 4.08B | ≈5.4% |
Global | USD 7.41B | USD 13.94B | ≈5.9% |
Key Segments
- Product types: HTV, RTV, LSR (Liquid Silicone Rubber dominates 2024)
- Key players: Wacker, Momentive, Shin‑Etsu, Dow, Bluestar
Comments