Conductive Silicone Rubber Market Share

APAC Market Statistics

Asia Pacific industry is expected to hold largest revenue share of 35% by 2037. The growth of the market can be attributed majorly to the increasing electronic manufacturing in the region. Moreover, the increasing application of silicone rubbers in electronic appliances is anticipated to boost market growth. The rising applications in the end-user sectors including power stations, photovoltaic, and LED are estimated to drive market growth across the region. The increasing economic standards of the people, growing use of electronic devices, and adoption of technological innovations among people are driving market growth in the region. The increasing population with the utilization of consumer electronics in every household with growing living standards in the region is estimated to propel the market growth. As per the estimations in the year 2023 the value of consumer electronics in Japan was estimated to be more than USD 35 billion. The increasing number of power plant generators with the rising demand for electricity in the region is estimated to drive market growth.

North American Market Forecast

The North American conductive silicone rubber market is estimated to be the second largest, registering a share of about 28% by the end of 2036. The growth of the market can be attributed majorly to the high production of automobiles in the region. More than 3 million cars were sold in the U.S. in 2020. In addition to this, the growing adoption of electric cars in the region is estimated to boost the market growth. The market growth is also attributed to the rising developments in the shale industry owing to the advancements made in hydraulic fracturing. The increasing healthcare sector in the region is also driving the need for silicon rubber in the manufacturing of medical devices, instruments, and equipment is estimated to boost the market growth in the region. The growing oil and gas sector in the region is also fueling the growth of the market across the world. The escalating use of electronics and electrical devices by people with the adoption of digitalization is expected to propel market growth in the coming years.

Europe Market Forecast

Further, the market in European, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2036. The growth of the market can be attributed to the increasing healthcare expenditure in the region owing to advancements in biocompatible medical devices including medical sensors. Expansion of the industrial sector across the region with a growing number of oil and gas industries is estimated to drive market growth during the forecast period. The rising demand for silicone in the healthcare sector for applications in implants and increasing applications in the renewable energy field of the European region is estimated to propel the market growth in the coming years. The increasing construction equipment sector in the region is also expected to fuel the market growth in the region owing to the high use of silicone rubber in building and construction. Also, the increased use of silicone rubber in the semiconductor and solar manufacturing industries of the region is propelling the growth of the market. The growing number of automotive industries as well as the increasing use of electrical devices owing to the growing disposable income of people is driving the market growth.