The increasing production of cost-effective and energy-efficient cars are expected to enable speedy expansion of the market, states Fortune Business Insights, in a report,The growing application of conductive silicon rubber in wiring and cables of automobiles can aid the expansion of the market.
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Launch of ELASTOSIL LR 3xxx by WACKER to Foster Growth
WACKER, a major chemical company announced that it has presented a liquid and solid silicone rubber grades having enhanced product and processing properties at an international trade fair for plastics and rubber. The company announced new products such as ELASTOSIL LR 3xxx, ELASTOSIL LR 6xxx, and SILPURAN 6xxx to cater to the growing demand for plastic and rubber materials. The launch of new products by the company is expected to have a positive effect on the market owing to the rising silicon rubber demand in various industries. The surging electronic industry is expected to enable speedy expansion of the market. Moreover, the increasing technological advancements and digitalization are factors expected to create lucrative business opportunities for the market in the forthcoming years.
However, the unavailability of substitutes is expected to restrict the growth of the market. Besides, the rising shift-towards bio-based conductive materials are expected to dampen the growth of the market in the forthcoming years.
High Consumption of Silicon Rubber to Foster Growth in Asia Pacific
The market size in Asia Pacific is predicted to experience a rapid growth rate during the forecast period. The rising consumption and production of silicon is expected to aid the development of the market in the region. The surging electrical and electronics industry in China, India, and South Korea is expected to foster the healthy growth of the market during the forecast period. The market in North America is expected to expand fundamentally during the forecast period owing to the rising consumption of industrial machinery for hydraulic fracturing in the region. The growing adoption of conductive silicon rubber in the electrical & electronics industry is expected to foster the healthy growth of the market in North America. The market in Europe is expected to witness a significant growth rate owing to the rising demand for medical devices in the region. The Middle East and Africa are expected to experience a high growth rate owing to the growing disposable income in the region.
August 2019: Momentive displayed a new silicone technology at K 2019 trade fair. It will include innovative solutions such as silicone elastomers, specialty silanes, and coatings. The products are Silopren LSR 27×9, Silopren LSR 2759, TOSPEARL 120 FL, and SILFORT AS4700.
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