Smithers Rapra: The Future of Silicone Elastomers to 2024
Global consumption of silicone elastomers will approach 500,000 tonnes in 2019 for the first time, according to exclusive provisional data from the forthcoming Smithers Rapra report, the Future of Silicone Elastomers to 2024.
This market is set to expand at a rate of 6.2 % year-on-year across the next five years, reaching a total of 670,000 tonnes worldwide in 2024. Smithers Rapra in-depth research into this area reveals the following key findings that will underpin this market evolution.
High temperature vulcanisation systems (HTV) will remain as the most important silicone processing method, with over 50 % market share from 2019 to 2024, but this established segment will see sluggish growth over 2019 – 2024. In contrast, its capacity for high accuracy and low scrap rates means liquid injection moulding will grow at over the rate of HTV processing across the forecast period.
There will be new demand for siloxane-based elastomers. Their strong heat-resistance and chemical resistance performance will drive use of poly-trifluoro-vinylmethyl siloxane (FVMQ) formulations. Simultaneously the continued transition to LED lighting systems will see more demand for poly-phenyl-vinylmethyl siloxanes (PVMQ), because of their combination of high refractive index and high temperature resistance.
Overall there will be strong growth in demand for silicone elastomers over the next five years in transportation (road, aerospace, and marine) – especially from electrically powered vehicles – making this the third fastest growing end use segment for that period. In second place will be electrical and electronic applications.
Fastest growth will be in medical applications with consumption of silicone elastomers especially stimulated by the rising number of intrusional surgical interventions that will require silicone elastomers’ high level of purity.
From a regional perspective the fastest expanding major regional market will be Asia, growing at 7.3 %. This rises to 9.5 % for China making it the key national boom market over 2019 – 2024.