The conductive Silicone market size is projected to grow at a CAGR of 6.12% to reach US$5.455 billion in 2026 from US$3.600 billion in 2019. It has been observed a powerful rate in recent years and is forecast to exhibit fruitfully within the years to come back.
Conductive Silicone’s are materials of Silicone that are filled with carbon having unique and advanced physical properties. These physical properties include higher flexibility, higher moisture resistance, easier assembly and low temperature processability and are used in a variety of end user applications such as fastening, coating, bonding and printing. The use of conductive Silicone’s in the thermal interface materials has surged dominantly in the recent years as conductive Silicone provides adhesion to a large range of substrates and its property of high conductivity has made an increasing demand at the global level. Its application in bonding LED arrays, microprocessors to ensure a specific path for heat flow has led to the upsurge in its demand.
One of the major drivers for the conductive Silicone market growth includes its high demand of mobile robots in various industry sectors that include high sustainability like wind and solar power. The upsurge in the demand of these are accounted as conductive Silicone enhance the durability and performance of various industry sectors. The use of conductive Silicone allows products to spread better, last longer, withstand extreme temperature and to stay flexible and rigid which automatically reduces the resource and energy consumption. The extensive research and developments in the conductive Silicone market to develop advanced unique products has become a trend dur to which major companies have been adopting the use of Silicone’s in their production units. Silicone’s have helped to develop renewable energy sources such as solar panels, wind turbines, electric vehicles, medical prosthetics with the use of advanced technologies and innovations. Furthermore, the favourable regulatory polices such as free trade agreement and the FDI are likely to boost the overall conductive Silicone market at a global level.
However, the environmental concerns regarding the use of conductive Silicone in China, which happens to be the biggest market of these conductive Silicone’s will hamper the growth of this market in the forecast period. Environmental concern regarding the air quality index has led to the shutting of various feedstock facilities in the country leading to the shortage of supply. A surge in the demand of conductive Silicone has been a pressing concern with the limited supply of these materials which has caused a disbalance between the demand and the supply restraining its growth.
Based on end-user, the market is metameric into consumer electronics, automotive, aerospace and defense, medical devices and others. On the source of end-use, the automotive section procured the utmost revenue of the worldwide conductive Silicone market in 2019. The increasing demand of conductive Silicone from the automotive sector in the global market has been a prime driver of this industry.
The increasing demand of conductive Silicone is the automotive market is due to its versatile nature and its physical ability to withstand harsh weather conditions and its flame. The ability to remain elastic even at higher temperatures whilst retaining its adhesion, shine and water repellence to aftermarket car care products have boosted the demand of these conductive Silicone’s in the automotive industry. Conductive Silicone’s are used on the drive train, under the bonnet and on the bodywork. Their properties include resistance to humidity and water, are non-toxic and inert, favourable electrical properties and flexible UV resistance. The technological advancements in the industry have led to the surge in the demand of these conductive Silicone in various industry sectors to increase their efficiency and improving the overall value of the product.
Furthermore, with the increasing demand of electric vehicles the in various countries has boosted the demand of conductive Silicone in the automobile sector. With the technological advancements in EV vehicles the need to reduce component size and increase power output the demand for these Silicone’s for greater protection and heat dissipation to ensure the vehicles performance and life span.
The market for conductive Silicone is metameric into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In the year 2019, North America emerged to be a prominent region in the conductive Silicone market; though, the market within the Asia-Pacific region is anticipated to develop at a fast rate as compared to different regions. North America is additionally anticipated to exhibit the highest rate / CAGR over the forecast amount 2020-2027. Factors like rising income and increasing demand of conductive Silicone would produce moneymaking growth prospects for the conductive Silicone market across the region. Also, the presence of e-commerce giants in the region have surged the demand of conductive Silicone’s. The growth of the Asia-Pacific market is calculable to be fuelled because of the upsurge in the demand of conductive Silicone’s in automotive, consumer electronics and power generating industries. Asia Pacific region has been experiencing increasing investments in the power generation industry in leading developing nations like China, Japan and India. Additionally, the use of anti-static packing for electric and electronic devices as it provides dust control during electric charge and sustaining functionality have risen the demand of conductive Silicone’s in the APAC region. The growing application of conductive Silicone’s in conformal coatings, bonding, fastening, encapsulation and potting compounds have boosted its use in various industry sectors.
Manufacturing activities are interrupted because of lockdown measures enforced in numerous countries. Additionally, disruptions within the supply chain and retardation of companies' businesses have occurred. Trade barriers have restrained the stock. The COVID-19 impact on conductive Silicone market has been neutral owing to the use of conductive Silicone’s in the healthcare industry amid this pandemic. The disruption in the demand and supply chain has further hampered the conductive Silicone market in the forecast period. The temporary lockdown in many countries have led to the shut down of manufacturing units and various industry sectors like automotive, consumer electronics have limited the demand of these conductive Silicone in the global market. The unfavourable conditions risen due to the COVID-19 virus has had a negative impact on the conductive Silicone market. However, in the post COVID scenario, the conductive Silicone market is expected to bloom with the surging demand in various industry sectors in the forecast period.
The key companies involved in the conductive Silicone market are The Dow Chemical Company, Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, Henkel AG & Co. KGAA, Elkem Siliconees, ACC Siliconees Ltd, Siliconee Technology Corporation, Momentive, Saint Gobain Performance Plastic, 3M Company.