According to a recently published report by Brisk Insights, the silicone Elastomers Market is expected to grow at the CAGR of 5.9% during 2015-2022 and it is estimated to be $6.6 billion by 2022. The global silicone elastomers market is segmented on the basis of type, application and geography. The report on Global Silicone Elastomers Market Forecast 2015-2022 provides detailed overview and predictive analysis of the market.
The global silicone elastomers market is driven by large number of factors such as superior properties of silicone elastomers such as excellent UV and Ozone resistance, easy to fabricate or process, high thermal conductivity, high gas and drug permeability, low flammability, outstanding electrical insulating properties, low compression set at elevated temperatures etc. Due these excellent qualities, silicone elastomers find their usage in a large number of sectors such as automotive & transportation, electrical & electronics, healthcare, consumer goods, and industrial machinery. Silicone elastomers are extensively used in these industries and growth in these sectors is also leading to the growth of the silicone elastomers industry. There are large number of commercial application of silicone elastomers such as structural glazing and sealants. Demand for better equipments which are safe and sterile has arrived in healthcare industries and this has boosted the demand of silicone elastomers. One of the major reason for the growth of the industry is the economic growth of developing economies of APAC region especially China. Development of the automotive sector is also driving the market.
Full report available Global Silicone Elastomers Market Forecast 2015-2022 report at http://briskinsights.com/report/global-silicone-elastomers-market-forecast-2015-2022
Some of the factors which are hindering the growth of the silicone elastomers industry are high investment required for the production of material and the price sensitivity of the market. These factors act as the restraint for the industry.
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