Conductive Silicone Rubber Market Size, Share & Forecasts, 2014 - 2025

The market is subject to witness a substantial growth due to the growing demand for various application such as lighting and electrical wiring applications. Additionally, increasing adoption of conductive silicone rubber for anti-static packaging to limit dust accumulation during electric charge is anticipated to boost the market growth over next seven years. Growing number of application in automotive sector coupled with increasing demand from Asia Pacific region are expected to drive the growth of conductive silicone rubber industry in the upcoming years. Globally, the conductive silicone rubber market is predicted to grow at CAGR of 7.1% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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Other factors that are responsible for sustained growth of conductive silicone rubber industry include shifting trend towards adoption of lightweight automobile parts and lower emission rate. Use of lightweight automobile parts enhances fuel efficiency of the vehicle thus driving market demand for conductive silicone rubber. In addition, conductive silicone rubber is increasingly used in production of plastic and rubber modifiers owing to its superior anti-wear and anti-blocking properties. Robust growth of automotive industry and rapid industrialization, particularly in developing economies across the globe such as India, Brazil, China, and South Africa are projected to foster market expansion over the next seven years.

Moreover, favorable government policies coupled with higher approval rate from various local and international authorities such as FDI are likely to propel market demand for conductive silicone rubber over the forecast period. Rise in number of the free trade agreements, and massive increase in import & export activities in Asia Pacific & North America region are bolstering market expansion, in the last few years. Increasing adoption of conductive silicone rubber for production of rings, seals, gaskets, and coupling materials in packaging and oil & gas industries are predicted to augment market value for the product.

Growing user awareness associated with the use of bio-based chemicals and their numerous advantages over the synthetic products are positively affecting market performance of conductive silicone rubber, in the recent years. However, volatility in the cost of raw materials and lack of availability are major challenges for industry expansion over the forecast period.