Silicone Elastomers Market Size: 2033 Statistics

The global silicone elastomers market size is expected to reach USD 19.28 Billion in 2032 and register a steady revenue CAGR of 7.4% during the forecast period, according to latest analysis by Emergen Research. Rising demand for silicone elastomers in the electrical & electronics industry is a key factor driving market revenue growth. Moldable silicones are a more advanced material for Light Emitting Diode (LED) lights and illumination applications. Silicone elastomers are suited for electrical insulation applications because of their high dielectric strength, which do not promote surface insulation failures as these are hydrophobic and resistant to high temperatures, Ultraviolet (UV), and ozone. Use of silicone elastomers for a wide range of applications has increased in the electronics sector as the industry can rely on exceptional diversity of silicone polymer chemistry and designs to overcome technical challenges. For example, the industry of Light Emitting Diode (L...