Silicone elastomer market pegged to grow 6.5%

摘要

The global market size of silicone elastomers is projected to reach $7.94 billion by 2021, at a compound annual growth rate (CAGR) of 6.49% between 2016 and 2021, according to a new report from MarketsandMarkets. The superior properties of silicone elastomers, such as high and low temperature resistance, oil resistance, excellent weatherability and flame retardance, along with its increasing demand from the healthcare, and electrical and electronics end-use industries, drives the silicone elastomers market. The demand for silicone elastomers from the automotive and transportation end-use industry drives the market in the Asia Pacific region.