Conductive Silicone Market Size
Study Period | 2019 - 2029 |
Market Size (2024) | USD 7.29 Billion |
Market Size (2029) | USD 10.82 Billion |
CAGR (2024 - 2029) | > 8.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Conductive Silicone Market Analysis
The Conductive Silicone Market size is estimated at USD 7.29 billion in 2024, and is expected to reach USD 10.82 billion by 2029, growing at a CAGR of greater than 8% during the forecast period (2024-2029).
COVID-19 disrupted the conductive silicone supply chain, yet demand for electronics surged due to rapid digitization and the adoption of distance learning and remote work. However, the conductive silicone market is recovering to its pre-pandemic stage as COVID-19 cases declined and businesses returned to normal.
Increasing demand for conductive silicone from electrical devices in various industries fuels market growth.
On the flip side, the high cost of raw material required for conductive silicon rubber is anticipated to restrain the market's growth over the forecast period.
Advancements in technology, particularly in conductive silicone rubber, such as microfluidic devices, are opening up new possibilities within the market.
The Asia-Pacific region dominates the conductive silicone market, owing to rising demand from the automotive and electronics & telecommunications industry.
Conductive Silicone Market Trends
Thermal Interface Materials Segment to Dominate the Market
- The thermal interface materials segment is the dominating segment, offering adhesion to an extensive range of substrates. The high thermal conductivity of conductive silicones makes it an ideal material for various applications.
- Thermal interface material is witnessing increased 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 (Thermal Interface Materials) for heat dissipation. Thus, it will likely cause the demand for conductive silicone over the forecast period.
- Thermal Interface Materials are majorly used to fill the microscopic gaps between the heat source (such as a CPU or GPU) and the heat sink to improve the transfer of heat from the heat source to the heat sink, which can help to prevent the heat source from overheating and damaging the internals of a system. TIM is majorly used in computers, laptops, consoles, and other electronic devices (such as routers, power supplies, and amplifiers).
- The electronics segment is one of the major driving segments for the growth of the conductive silicone market, in which many companies like Apple, Dell, Samsung, and Xiaomi are expanding their smartphone and laptop sales across the globe, directly impacting the consumption of thermal interface materials like heat dissipating pastes and pads.
- According to the India Brand Equity Foundation (IBEF), the Indian telecom market experienced a 36% increase in value in offline retail during the previous year (2022) and is anticipated to maintain stable, value-driven growth in the domestic telecom market for the year 2023.
- The thermal interface materials market size rises with governments promoting start-up ecosystems as they enter the thermal interface materials and systems market. Since 2018, many companies have entered this market to innovate and expand the thermal interface materials segment, such as Thermulon, Rovilus, and U-MAP Co.,ltd.
- In addition, the 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.
- The heightened utilization of thermally conductive silicone rubber materials, including fluoro silicone rubber, in electronic components like sensors and printed and electronic circuit boards is expected to bring positive outcomes. This is attributed to their advantages of adequate flow, processing capabilities, and elevated thermal stability.
- The increasing trend toward miniaturization in electronic devices has underscored the importance of shielding these components from electromagnetic interference (EMI) and electrostatic dissipation (ESD). As the use of conductive silicone rubber for ESD and EMI protection continues to rise, it is expected to have a positive impact throughout the forecast period.
- 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
- The 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 industries have been driving the conductive silicone requirements in Asia-Pacific.
- Asia-Pacific countries like China, India, Japan, Indonesia, and Vietnam are witnessing increasing investment in power generation projects, further providing thrust to the conductive silicone market.
- Increased significance of anti-static packaging for 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 & electronic devices, with countries like China, Japan, India, And ASEAN Countries.
- China is a significant consumer of conductive silicone, used in various mobile phone components, such as keypads, EMI shielding, and thermal management solutions. China is one of the world's largest mobile manufacturing countries, accounting for over 30% of global production in 2022. As per Gizchina Media, the country manufactured 679 million smartphones from January 2023 to August 2023.
- The battery is shielded by silicone against short circuits and other electrical dangers. Additionally, with a high melting point, silicone is perfect for applications requiring high temperatures. In addition, silicone resists corrosion and can sustain high temperatures, making it an ideal material for producing lithium-ion batteries.
- Thermal interface materials dominate the application segment, as they offer adhesion to an extensive range of substrates, and the high thermal conductivity of conductive silicones makes them an ideal material for various applications in the automotive industry. Asian region accounts for more than half of the production of automobiles globally, with significant contributions from China, Japan, India, South Korea, and Thailand.
- Growing utilization in applications such as encapsulants & potting compounds, conformal coatings, fastening, bonding, and printing is expected to thrust the conductive silicone market.
- Hence, all such market trends are expected to drive the demand for the conductive silicone market in the region during the forecast period.
Conductive Silicone Industry Overview
The conductive silicone market is fragmented in nature. The major players (not in any particular order) include Wacker Chemie AG, DOWSIL (DOW Corning), Shin-Etsu Chemical Co., Ltd, Specialty Silicone Products, Inc., and ACC Silicones (CHT Group), among others.
Conductive Silicone Market Leaders
Wacker Chemie AG
Shin-Etsu Chemical Co., Ltd
Specialty Silicone Products, Inc
ACC Silicones (CHT Group)
DOWSIL (DOW Corning)
*Disclaimer: Major Players sorted in no particular order
Conductive Silicone Market News
December 2022: LegenDay developed conductive silicone components specifically for the healthcare and medical industries. These parts are made from high-quality silicone mixed with electrically conductive and inert particles and can be shielded from electromagnetic interference (EMI). LegenDay used low-volatility and ion-content conductive silicone, which was especially good for highly sensitive medical electronic systems. This advanced composition made LegenDay's conductive silicone components well-suited for use in hermetically sealed, vacuum, or high-temperature environments, meeting the strict requirements of the healthcare and medical industries.
Conductive Silicone Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Consumption from Consumer Electronics Segment for Heat Dissipation
4.1.2 Growing Demand from Automotive Industry
4.1.3 Rising Demand for Silicon Rubber
4.2 Restraints
4.2.1 Competition from Substitutes
4.2.2 High Cost of Raw Material
4.3 Industry Value Chain Analysis
4.4 Porter's 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 and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size In Value)
5.1 Product Type
5.1.1 Elastomers
5.1.2 Resins
5.1.3 Gels
5.1.4 Other Product Types (Pastes, Gap Fillers, Adhesives, and Greases)
5.2 Applications
5.2.1 Adhesives and Sealants
5.2.2 Thermal Interface Material
5.2.3 Encapsulant and Potting Compound
5.2.4 Conformal Coating
5.2.5 Other Applications (Biomedical and Photocatalysis)
5.3 End-user Industry
5.3.1 Automotive
5.3.2 Construction
5.3.3 Power Generation
5.3.4 Electrical and Electronics
5.3.5 Other End-user Industries (Industrial Machinery and Consumer Goods)
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Avantor, Inc.
6.4.2 CHT Germany GmbH
6.4.3 Dow
6.4.4 Elkem ASA
6.4.5 Evonik Industries AG
6.4.6 Ferroglobe
6.4.7 LegenDay
6.4.8 Momentive
6.4.9 Parker Hannifin Corporation
6.4.10 Reiss Manufacturing, Inc.
6.4.11 Shin-Etsu Chemical Co., Ltd
6.4.12 Soliani Emc s.r.l.
6.4.13 Specialty Silicone Products, Inc.
6.4.14 Wacker Chemie AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Reasearch and Development on Use of Conductive Silicone in Medical Device
7.2 Growth in Technological Advancements in Silicon Rubber
Conductive Silicone Industry Segmentation
Conductive silicone comprises silicone materials infused with carbon, exhibiting commendable sensing characteristics. Its electrical resistance can be altered through compression or deformation, making it suitable for creating force or deformation sensors. The benefits of electrically conductive silicone materials encompass flexibility, resistance to heat and moisture, processability at low temperatures, simplified assembly, and their environmentally benign nature. Conductive silicone finds extensive utilization in diverse applications, spanning coating, printing, fastening, and bonding applications.
Product type, applications, end-user industry, and geography segment the conductive silicone market. By product type, the market is segmented into elastomers, resins, gels, and other product types (pastes, gap fillers, adhesives, and greases). By applications, the market is segmented into adhesives and sealants, thermal interface material, encapsulant and potting compounds, conformal coating, and other applications(biomedical and photocatalysis). By end-user industry, the market is segmented into automotive, construction, power generation, electrical and electronics, and other end-user industries (industrial machinery and consumer goods). The report also covers the market size and forecasts for the conductive silicone market in 15 countries across major regions.
For each segment, the market sizing and forecasts have been done on the basis of value (USD).
Product Type | |
Elastomers | |
Resins | |
Gels | |
Other Product Types (Pastes, Gap Fillers, Adhesives, and Greases) |
Applications | |
Adhesives and Sealants | |
Thermal Interface Material | |
Encapsulant and Potting Compound | |
Conformal Coating | |
Other Applications (Biomedical and Photocatalysis) |
End-user Industry | |
Automotive | |
Construction | |
Power Generation | |
Electrical and Electronics | |
Other End-user Industries (Industrial Machinery and Consumer Goods) |
Geography | |||||||
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Conductive Silicone Market Research FAQs
How big is the Conductive Silicone Market?
The Conductive Silicone Market size is expected to reach USD 7.29 billion in 2024 and grow at a CAGR of greater than 8% to reach USD 10.82 billion by 2029.
What is the current Conductive Silicone Market size?
In 2024, the Conductive Silicone Market size is expected to reach USD 7.29 billion.
Who are the key players in Conductive Silicone Market?
Wacker Chemie AG , Shin-Etsu Chemical Co., Ltd , Specialty Silicone Products, Inc , ACC Silicones (CHT Group) and DOWSIL (DOW Corning) are the major companies operating in the Conductive Silicone Market.
Which is the fastest growing region in Conductive Silicone Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Conductive Silicone Market?
In 2024, the Asia Pacific accounts for the largest market share in Conductive Silicone Market.
What years does this Conductive Silicone Market cover, and what was the market size in 2023?
In 2023, the Conductive Silicone Market size was estimated at USD 6.75 billion. The report covers the Conductive Silicone Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Conductive Silicone Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Conductive Silicone Industry Report
Statistics for the 2024 Conductive Silicone market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Conductive Silicone analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.