Sep 30, 2023

Silicone In Electrical And Electronic Global Market Report 2023

Major players in the silicone in electrical and electronic market are Silchem Inc., ICM Products Inc., Specialty Silicone Products Inc. (SSP), Wacker Chemie AG, Evonik Industries AG, Dow Corning Corporation, Kemira Oyj, Quantum Silicon Inc.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Silicone In Electrical And Electronic Global Market Report 2023" - , Kaneka Corporation, Hutchinson SA, Shin-Etsu Chemical Co. Ltd., H.B. Fuller Company, ACC Silicones Ltd., Elkem Silicones, LORD Corporation and Rogers Corporation.The global silicone in the electrical and electronic market is expected to grow from $1.97 billion in 2022 to $2.08 billion in 2023 at a compound annual growth rate (CAGR) of 6.02%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The silicone in the electrical and electronic market is expected to reach $2.66 billion in 2027 at a CAGR of 6.28%.Silicone in the electrical and electronics market consists of sales of connectors, fluorosilicone, transistors, capacitors, coils, and printed circuit boards.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Silicone in electrical and electronic refers to the class of synthetic materials made from metallurgical silicon that provide high thermal stability and resistance to weathering, ozone, moisture, and UV radiation. Silicone is a heat-resistant and rubber-like material that is used in applications for thermal and electric insulation.Asia-Pacific was the largest region in the silicone in electrical and electronic market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of products involved in silicone in electrical and electronics are sealants and adhesives, ceramics, silicone coatings, conformal coatings, encapusulants, potting silicones, hardcoats, optical bonding adhesives, and quartz thermal management.Sealants and adhesives refer to a type of polymer-sealing substance used to create a hard covering on a porous surface.It comes in different forms, such as fluids, gels, elastomers, and resins, and is used by several end-users, such as the automotive industry, electronics industry, telecommunications industry, and others.An increase in the use of smartphone devices is expected to propel the growth of silicone in the electrical and electronic markets going forward.A smartphone refers to a portable electronic gadget that connects to a cellular network.Silicone electrical sealants are used in smartphone fingerprint sensor assemblies to help attain an IP waterproof rating and protect various components against heat, shock, and contaminants.They offer interior micro USB type C components primer-less adhesion to help build a barrier that prevents moisture intrusion.So these factors boost silicone in the electrical and electronic markets. For instance, according to Uswitch Limited, a UK-based online and telephone comparison and switching service, 71.8 million mobile connections will be active in 2022. By 2025, there will be 68.3 million individuals in the UK, with 95% of them carrying smartphones. Therefore, the increase in the use of smartphones is driving the growth of silicone in the electrical and electronic market.Technological advancement is the key trend gaining popularity in silicone in the electrical and electronics markets.Major companies operating in the electrical and electronics markets are adopting new technologies to sustain their position in the market.For instance, in June 2021, Dow Inc., a US-based manufacturer of chemicals, launched three new silicone technologies for EV electronics applications called DOWSIL TC-2035 CV Adhesive, DOWSIL TC-4551 CV Gap Filler, and DOWSIL TC-4060 GB250 Thermal Gel, which are designed for reliable performance, high thermal conductivity, efficient heat dissipation, and easy processing. For the assembly of automotive electronics, such as advanced driver assistance systems (ADAS) units and electronic control units (ECUs), DOWSILTM TC-2035 CV Adhesive offers excellent thermal conductivity, a quick cure, and exceptional room-temperature shelf-life stability. High thermal conductivity and dependable performance are also provided by DOWSILTM TC-4551 CV Gap Filler in vehicle power electronics, ECUs, and ADAS.In January 2021, Momentive Inc., a US-based chemicals company, acquired the silicones business from KCC Corporation., for an undisclosed amount. Through this acquisition, Momentive Inc. aims to accelerate the silicone business by combining the companies’ collective capabilities and expertise in advanced silicones and specialty products for tailored applications in healthcare, telecommunications, electronics, personal care, energy, and many other industries. KCC Corporation., is a South Korea-based chemical company that manufactures various silicone materials and silicone electronics.The countries covered in the silicone in electrical and electronic market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The silicone in electrical and electronics market research report is one of a series of new reports that provides silicone in electrical and electronics market statistics, including silicone in electrical and electronics industry global market size, regional shares, competitors with a silicone in electrical and electronics market share, detailed silicone in electrical and electronics market segments, market trends and opportunities, and any further data you may need to thrive in the silicone in electrical and electronics industry. This silicone in electrical and electronics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. 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