Conductive Silicone Rubber Market Size, Share & COVID-19 Impact Analysis, By Type (Electrically Conductive & Thermally Conductive) By Application (Automotive, Electrical & Electronics, Industrial and Others), and Regional Forecast, 2021-2028

The global conductive silicone rubber market size was USD 9.88 billion in 2020. The market is projected to grow from USD 10.65 billion in 2021 to USD 17.88 billion in 2028 at a CAGR of 7.7% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with witnessing a negative effect across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline in growth of 2.9% in 2020. The sudden incline in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

Conductive silicone rubber is a high-performance elastomer. It comprises of a siloxane backbone and an organic functional group bound to the silicon atom. These rubbers are one- or two-part polymers with a wide and varying set of properties including temperature resistance, durability, flexibility and others. These rubbers are electrically and thermally conductive materials. They are special grade conductive silicone rubbers synthesized using various additives and fillers to attain the desirable thermal conductance or electrical conductance.

COVID-19 IMPACT

Shortage of Silicone due to COVID-19 to Hinder Market Growth

COVID-19 has certainly disrupted the supply and demand chain for raw materials and end products. The changes in the raw material supply frequencies, logistics and shipping norms, lack of manpower are the reasons that resulted in the disruption of the conductive silicone rubber market. In the first half of 2020, the demand increased at higher rate due to the relaxation on the norms of various global economies, opening up of the production, and trade activities. Furthermore, following the furlough and lockdown, it was difficult for businesses and industries to reclaim the necessary staff. This had a direct impact on production. However, according to Specialty Silicone Products, the shortage in supply and pressure in prices shall persist for next 6-12 months. The other major manufacturers are working on increasing the output.

LATEST TRENDS

Research & Development of Self-Healing Silicone Elastomer to Foster Market Growth

Scientists have demonstrated the self-healing property of silicone rubber through the process of heat activated revocable bonding. This is possible due to the mechanism discovered in 1950 and is known as siloxane equilibration. Attributed to this property, it is employed in molding different desired shapes and designs for different applications. This self-healing property is estimated to be beneficial in various advanced applications including aerospace and defense, automotive and others.

DRIVING FACTORS

Increasing Adoption from End-Use Segment to Drive Market Growth

Silicone rubber is a versatile elastomer employed in various end use sectors including automotive, electrical & electronics, healthcare, and industrial. Increasing use in these verticals is one of the major factor contributing towards the growth of the market. Additionally, electrically conductive type of rubber is used in shielding the computer rooms and office equipment from electromagnetic radiations. They are also employed for the anti-static protection for electrical and electronic devices. Thermally conductive products are used in various applications that need electrical insulation and enhance heat dissipation. The superior thermal conductive properties help in boosting the heat dissipation performance and also possess better adhesion to heat sinks. High demand for such exceptional rubber products is likely to boost the conductive silicone rubber market growth.

Superior Properties of Silicone Rubber to Bolster Growth

Conductive silicone rubber has superior properties of rubber that includes durability, thermal stability, electrical, and thermal conductivity. Certain special properties including elongation, dielectric strength, compression set, fire resistance, tear strength and creep can be superior to the organic rubbers. Moreover, the backbone of the compound withstands the aging factors that occur due to exposure to gases like ozone, heat and UV radiation. The highly inert nature of silicone makes it chemically resistant, biocompatible and hypoallergic. These superior properties have significantly boosted the demand.

RESTRAINING FACTORS

Availability of Cost-Effective Alternative to Limit Market Growth

There are various alternatives available in the market which are cost-effective and durable. The availability of such alternatives like Ethylene propylene diene monomer rubber which is cost-effective and possesses properties like durability and resistance to aging, natural wear and heat is expected to limit the market growth.

SEGMENTATION

By Type Analysis

Electrically Conductive Segment to Hold the Largest Market Share

Extensive adoption for electrically conductive product type from automotive and electrical & electronics applications is expected to drive the segment growth. Increasing demand for smart electronic products like smartphones, AI systems in automotive electronics, and consumer electronics will boost the demand for electrically conductive products. Thermally conductive segment is expected to show considerable growth owing to the high demand from industrial sector for heat dissipation applications.

By Application Analysis

Electrical and Electronics Segment to Exhibit a Significant CAGR

Electrical and Electronics segment of application is expected to hold the largest share attributed to the high demand for consumer and automotive electronic products. Growing demand for electronic devices like laptops, computers, smartphones and others is likely to drive the segment growth. Automotive industry/sector is the second largest application segment which employs both electrically conductive and thermally conductive rubbers. This is expected to exhibit growth by the end of forecast period.

REGIONAL INSIGHTS

Asia Pacific held the largest percentage of the global conductive silicone rubber market share in 2020. The region accounted for 34.6% of the market share and value of USD 3.42 billion. A large manufacturing base for electrical and electronics industries in countries like China, India, Taiwan, South Korea and Japan is expected to boost the regional market growth.

Europe is one of the major markets. The presence of large manufacturing base for automotive is driving the demand for electrically conductive segment. Moreover, the ample number of manufacturers present in European nations shall significantly contribute to the market growth. Increasing R&D in developing newer materials and technologies for automotive shall drive the demand.

North America is expected to show considerable growth attributed to the high demand from industrial sector. Technical advancement and adoption of materials with superior qualities by the manufacturers of end products shall boost the market growth.

Latin America and the Middle East & Africa are anticipated to grow sluggishly comparatively lower demand than the rest of the regions.

KEY INDUSTRY PLAYERS

Presence of Key Players to Improve Market Position

The producers in North America and Europe are focusing on increasing their presence in various countries in Asia Pacific to strengthen their position in the market and to drive the market growth of the organization. The key players in the market have, therefore, developed strong regional presence, distribution channels, and product offerings.

Leading players in the market are prioritizing R&D to bring novel, superior-quality products with enhanced features to the market. Many companies are eyeing strategic collaborations, mergers, and acquisitions to boost their business prospects. Market players are also expected to expand existing production capacities to meet the rising market demand.

LIST OF KEY COMPANIES PROFILED:

• Wacker Chemie (Germany)


• Shin Etsu (Japan)


• Momentive Performance Materials (U.S.)


• Dow Corning (U.S.)


• Novation Solutions (Hong Kong)


• Specialty Silicone Products Inc. (U.S.)


• KCC corporation (South Korea)


• Simolex rubber Corporation (U.S.)


• Western Polyrub India (India)


• Soliani EMC s.r.l (Italy)

KEY INDUSTRY DEVELOPMENTS:

• January 2021: Shin Etsu, a global manufacturer developed silicone thermal interface materials for automotive applications. These applications include electric vehicles and hybrid electric vehicles.


• November 2018: Wacker ACEO team presented its innovative 3D printing technology with electrically conductive silicone elastomers. The new elastomer can withstand a temperature of 200 degrees and provide good electrical resistance.

REPORT COVERAGE

The global conductive silicone rubber market research report provides both qualitative & quantitative insights into the global market. Quantitative insights include the global market sizing in terms of value (USD Billion) & volume (Kilo Tons) across each segment, sub-segment, and region profiled in the scope of the study. Also, the report covers market share analysis and growth rates of segment, sub-segments, and key countries across each region. Qualitative insight covers elaborative global industry analysis of drivers, restraints, growth opportunities, key trends related to the market. The competitive landscape section covers detailed company profiling of the key players operating in the market.

Report Scope & Segmentation