Global Silicon Market Is Poised to Grow at A Rate of 7% CAGR from The Year 2020-2026

Global Silicon Market Is Poised to Grow at A Rate of 7% CAGR from The Year 2020-2026

September 23, 2021, New York, USA - Global Silicon Rubber Market.

One of the most versatile products to use in any kind of industry is the silicon product. If combined with rubber it can be used for a variety of purposes and is useful for the industry growth also. It has both viscosity and elasticity. Colloquially it is called as elastic characteristics rubber and it is one of the most widely used materials in many of the industries.

Silicon Rubber is considered to be one of the safest options for applications such as the consumer cookware, and also different medicinal products which are approved by the FDA. It is also one of the most used materials for various uses in Canada.

Automotive vehicles are one of the key elements for a high potential for a Silicon Rubber market. And the construction sector is one another domain which will demand for a high grade silicon rubber.

Silicone rubber is typically elastomers based on the high molecular weight polymers and which can be modified across different functional groups. It is one of the most highly durable elastomer and is a combination of some of the most unusual properties. They typically range from high temperature performance, to excellent durability, to very good electrical insulation properties along with top properties which ensure transparency.

The various reasons which make silicone rubber an extremely versatile material is due to-

It has a high resistance power

It has a very high chemical stability

It is used for electrical insulation

It is helpful for abrasion

It is useful for weather resistance and ozone resistance

They have low toxicity

It has optical transparency

It is also responsible for high bio compatibly

It has very high mechanical properties along with tear strength and very high elongation.

It shows very excellent resistance to attack against oxygen, ozone and sunlight.

It has very high insulation properties

The biggest advantage is that silicon rubbers can withstand the highest temperatures ranging from -50 degree Celsius to 350 degree Celsius, it totally depends on the degree of the exposure. Also when the parts of the silicone rubber when exposed to the wind, rains and the UV rays for very periods of time they result in practically no change in the various physical properties.

Silicone rubber is also not affected by the highest level of ozone as well. Its unique properties exist from its unique molecular structure and its resistance against hard substances and materials.

As the material possesses unique properties it is used in a variety of industries such as the aerospace, automotive, construction, medical, food processing. They are also used in adhesives, sealants, potting, and in various coatings and lubricants. The commercial grade silicon rubbers were initially used in the year 1943 by the company Dow Coming . Today the silicon rubber substance is used in a variety of different companies.

The Silicone Rubber also uses addictive substances such as the cross linking, fillers, stabilizers, flame retardants, pigments and colors.

The Silicone rubber also has one of the strongest mechanical properties as they are highly temperature resistance and offer flexibility. It also offers the maximum elongation levels as it can stretch up to 700% which is an exceptionally good property for a rubber.

However this material has its own drawbacks such as –

  • It cannot remain oil resistant for longer periods of time.
  • It can swell with if stayed too long with petroleum or oil although there are more oil resistant properties.
  • It is prone to stiffer at higher temperatures.
  • Another limitation is that it is very expensive and most commonly it is usually replaced by something cheaper when very huge amounts are required.
  • Such as replacement can sometime hamper the quality of the work and can be a huge setback.
  • Also there are strict regulatory policies for the passing for the use of the personal care and products.
  • For the personal use it is also restricted in Canada and the United States.
  • In the medical industry also all the use of the silicon rubber should be approved by the FDA.

Another challenge for the Global Silicon market is that it also has fluctuating raw material prices and the very sharp increase in the prices of the different raw materials. The rising cost of the raw materials has an overall negative impact on the Global Silicon Rubber market.

The Global Silicon market is poised to grow at a rate of 7% CAGR from the year 2020-2026. It is also projected to register a value of 23.4 billion by the year 2026.

The Covid 19 impact on the Global Silicon Market-

Due to the pandemic of the Covid 19, several industries had announced the suspension of the production of the silicon rubber market. This was primarily due to lowered demand, supply chain bottlenecks. So overall the demand was low in the year of 2020. The forecast in the year 2021 is likely to be adjusted according to the manufacturers demand and needs.

The Geographical distribution for the Global Silicon Rubber market-

Asia Pacific dominates the market for this domain and it is expected to continue at the same pace in the entire APAC region. This is responsible for the rise in the population and the subsequent rising demand for the automotive vehicles. Along with this due to the rapid industrialization, China’s growth rate has also been an outstanding one. It is also on the way to become a massive infrastructure hub with most of the industrial automation taking place.

This industry also has a massive level of potential in countries such as China, Japan, and other countries in the South East Asia.

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