The conductive silicone rubber market size was USD 9.88 billion in 2020. The market is projected to grow from USD 10.65 billion in 2021 to USD 17.88 billion in 2028 at a CAGR of 7.7% in the 2021-2028 period.
This information is provided by Fortune Business Insights, in its report, titled, “Conductive Silicone Rubber Market, 2021-2028”.
According to our expert analysts, in electrical applications, the use of conductive silicone rubber provides good electromagnetic shielding as well as protection from electrostatic discharge. Silicone rubbers with excellent elasticity, flexibility, and mechanical qualities are known as conductive silicone rubbers. They have good thermal and electrical conductivity. They are also resistant to heat, cold, and other extreme weather situations.
Source:
https://www.fortunebusinessinsights.com/conductive-silicon-rubber-market-102843
COVID-19 Impacts:
Supply Chain Disruptions to Hamper Market Growth
There is no doubt that the COVID-19 lockdown has considerably impacted production operations, resulting in nationwide shutdowns of manufacturing facilities, manpower shortages, and a global supply and demand chain downturn. According to studies, the outbreak of COVID-19 caused a sharp drop in automotive production in 2020 due to a lack of procedures in multiple countries around the globe. The disruption in the conductive silicone rubber market was caused by changes in raw material supply frequencies, logistics and shipping norms, and a lack of staff.
Report Coverage:
The report provides a comprehensive overview of the market's analysis. The report's market estimations are based on extensive secondary research, primary interviews, and in-house expert reviews. The impact of different social, political, and economic aspects, and current market dynamics, on the conductive silicone rubber market growth has been factored into these market estimates.
Segmentation:
Based on type, the market is segmented into electrically conductive and thermally conductive.
On the basis of application, the market is segregated into automotive, electrical & electronics, industrial, and others.
Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers and Restraints:
Exceptional Properties Compared to Normal Conductors to Stimulate Growth
Conductive silicone rubbers are widely employed in a range of end-user industries due to their thermal and electrically conductive properties. Electrically conductive silicone rubber is used in conductors, cables, EMI shielding gaskets, and ESD shielding applications in the electrical and electronics industries. EMP protection and wave directing applications use silicone rubbers with conductive characteristics.
Regional Insights:
Asia Pacific is expected to dominate the conductive silicone rubber market share. Increased economies, paired with rising purchasing power, enabled significant growth in the electronic, electrical, and automotive industries in countries such as China, India, and South Korea. Therefore, the need for conductive silicone elastomers has increased dramatically.