Silicone Elastomers Market China Set to Witness High Growth with its High Production & Consumption Rate
Silicone Elastomers are available in the market in various forms such as solids, closed cell sponges, open cell foams, electrically conductive, and thermally conductive materials. They are considered a as bridge between inorganic & organic polymers due to its unique combination of mechanical and chemical properties. They are used in wide range of applications including construction, automotive, food storage, electronics, medical devices, consumer goods and others.
Automotive vehicles segment is the key application that drives high demand and growth for the Silicone Elastomers Market, followed by health-care industry. Growing demand from end-users such as construction, automotive, medical, electronics, the consumption of silicone elastomers is increasing as they provide excellent properties like heat stable, flexible at low temperatures and high dielectric strength. This factor is also considered as a key growth driver for this market.
Asia-Pacific accounts the largest share of the Silicone Elastomers Market and is expected to dominate the market till the end of forecast period. The key factor for the robust growth in Asia-Pacific is due to high production and consumption in India and China and rapid industrialization in other countries. North America is leading to the next position due to significant growth in the automotive industry, followed by Europe. Rest of the World is also projected to witness significant growth during the forecast period.
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