The market for conductive silicone is expected to grow at a CAGR more than 5% globally during the forecast period. Conductive silicone is a silicone material filled with carbon having good sensing properties. In addition, its electrical resistance is variable by deformation or compression thus makes it a suitable material for deformation sensors or developing force. The growing application of conductive silicone in the consumer electronics and automotive industry has been driving the market growth.
- However, the growing awareness of bio-based chemicals as a substitute and its electrical resistance varying nature during compression or deformation are likely to hinder the growth of the studied market. Moreover, unfavorable conditions arising due to the COVID-19 outbreak have led to a halt in industrial production temporarily which is also expected to hamper the market growth.
- The research and technological development in electrically conductive silicone applications in medical devices are likely to provide opportunities for the conductive silicone market over the next five years.
- Asia-Pacific region dominates the conductive silicone market, owing to rising demand from automotive and electronics & telecommunications industry in the region.
Key Market Trends
Thermal interface materials Segment to Dominate the Market
- Thermal interface materials segment stands to be the dominating segment as it offers adhesion to an extensive range of substrates and high thermal conductivity of conductive silicones makes it an ideal material for various applications
- Thermal interface material is witnessing an increase in demand due to their increasing application in bonding microprocessors, LED arrays, and other heat-generating components to heat sinks, ensuring an organized path for heat transfer.
- Increasing small electronic systems and rising current densities have resulted in higher operating temperatures, thereby, driving the development of high-performance silicone-based TIM for heat dissipation. Thus, it is likely to drive the demand for conductive silicone over the forecast period.
- Among types, silicone elastomer market is expected to show a considerable growth in the coming future owing to escalating demand from photovoltaic, LED industry, power generation & distribution industries.
- In addition, electronics & electrical segment is expected to be the fastest growing application segment in terms of volume owing to their widespread application as adhesives, sealants, and in coatings of wires & cables along with acting as an anti-static packaging agent for electronic components.
- Asia-Pacific countries like China, India and Vietnam have been registering strong growth in consumer electronics, which is expected to drive the consumption of conductive silicone in the region over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region stands to be the largest and fastest-growing market for conductive silicone. Factors such as rising utilization in electronics, automotive and power generation industry have been driving the conductive silicone requirements in Asia-Pacific.
- Asia-Pacific countries like China, India, Japan, Indonesia and Vietnam etc. are witnessing increasing investment in power generation projects which further provide thrust to conductive silicone market.
- Increased significance of anti-static packaging for the purpose of dust control during electric charge and sustaining functionality and longevity of the electrical and electronic devices is anticipated to surge utilization of conductive silicone in electronics. Asia is the largest producer of electrical & electronics devices with countries like China, Japan, India, And ASEAN Countries.
- Thermal interface materials dominate the application segment, as it offers adhesion to an extensive range of substrates and high thermal conductivity of conductive silicones makes it an ideal material for various applications in the automotive industry. Asian region accounts for more than half of the production of automobiles across the globe with major contribution from China, Japan, India, South Korea and Thailand.
- Growing utilization in various applications such as encapsulants & potting compounds, conformal coatings, fastening, bonding, and printing is expected to provide thrust to conductive silicone market.
- Hence, all such market trends are expected to drive the demand for conductive silicone market in the region during the forecast period.
The global conductive silicone market is fragmented in nature with some large players and many small players operating in the market. While some of the prominent players in the market include Wacker Chemie AG, DOWSIL (DOW Corning), Shin-Etsu Chemical Co., Ltd, Specialty Silicone Products, Inc and ACC Silicones (CHT Group) amongst others.
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Table of Contents
1.2 Scope of the Study
4.1.1 Rising Application in Consumer Electronics
4.1.2 Growing Demand from Automotive Industry
4.2.1 Competition from Substitutes
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5.2.1 Adhesives and Sealants
5.2.2 Thermal Interface material
5.2.3 Encapsulant and Potting Compound
5.2.4 Conformal Coating
5.3 End User Industry
5.3.3 Power Generation
5.3.4 Electrical and Electronics
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.4.2 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.4.4 South America
188.8.131.52 Rest of South America
5.4.5 Middle-East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ACC Silicones (CHT Group)
6.4.2 DOW Corning Corporation
6.4.3 Elkem Silicones
6.4.4 Elkem Silicones
6.4.5 Evonik Industries AG
6.4.8 Parker Hannifin Corp
6.4.9 Reiss Manufacturing, Inc.
6.4.10 Shin-Etsu Chemical Co., Ltd
6.4.12 Specialty Silicone Products, Inc
6.4.13 Wacker Chemie AG
7.2 Other Opportunities
A selection of companies mentioned in this report includes:
- ACC Silicones (CHT Group)
- DOW Corning Corporation
- Elkem Silicones
- Elkem Silicones
- Evonik Industries AG
- Parker Hannifin Corp
- Reiss Manufacturing, Inc.
- Shin-Etsu Chemical Co., Ltd
- Specialty Silicone Products, Inc
- Wacker Chemie AG