North America Silicone Elastomer Market Size & Outlook
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North America silicone elastomer market highlights
- The North America silicone elastomer market generated a revenue of USD 905.3 million in 2022.
- The market is expected to grow at a CAGR of 7.9% from 2023 to 2030.
- In terms of segment, lsr was the largest revenue generating product in 2022.
- RTV is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 905.3 million |
| Market revenue in 2030 | USD 1,658.2 million |
| Growth rate | 7.9% (CAGR from 2023 to 2030) |
| Largest segment | Lsr |
| Fastest growing segment | RTV |
| Historical data covered | 2019 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | HTV, RTV, LSR |
| Key market players worldwide | China National Bluestar Group, Dow Inc, MicroAlgo Inc, Momentive, Shin-Etsu Chemical Co Ltd, Wacker Chemie AG |
Other key industry trends
- In terms of revenue, North America region accounted for 44.6% of the global silicone elastomer market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 303.8 million by 2030.
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Silicone Elastomer Market Scope
Silicone Elastomer Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| MicroAlgo Inc | View profile | 86 | Taoyuan Street, Unit 507, Building C, Long Jing High & New Technology Jingu Pioneer Park, Shenzhen, China, People's Republic of, 518052 | |
| China National Bluestar Group | View profile | 10001+ | Beijing, Beijing, China, Asia | http://www.china-bluestar.com/ |
| Momentive | View profile | 5001-10000 | Schenectady, New York, United States, North America | https://www.momentive.com/ |
| Shin-Etsu Chemical Co Ltd | View profile | 25717 | 6-1, Ohtemachi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-0004 | http://www.shinetsu.co.jp |
| Wacker Chemie AG | View profile | 16378 | Hanns-Seidel-Platz 4, Munich, BY, Germany, 81737 | https://www.wacker.com |
| Dow Inc | View profile | 35900 | 2211 H.H. Dow Way, Midland, MI, United States, 48674 | https://www.dow.com |
North America silicone elastomer market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to silicone elastomer market will help companies and investors design strategic landscapes.
Lsr was the largest segment with a revenue share of 60.89% in 2022. Horizon Databook has segmented the North America silicone elastomer market based on htv, rtv, lsr covering the revenue growth of each sub-segment from 2019 to 2030.
The manufacturing industry is a vital component of the economy of North America. It is an essential driving force for increased productivity, innovations, and economic growth in the region, presenting lucrative growth opportunities for companies based in North America.
However, domestic manufacturers based in the region are at a disadvantage against global companies owing to various reasons such as uncompetitive legacy commitments, insufficient investments, short-term profit agendas, high structural and compliance costs, old facilities and equipment, massive national debts, and several other state policies.
Gaskets, seals, and O-rings market in North America is anticipated to grow significantly over the forecast period owing to the stringent implementation of guidelines by the Environmental Protection Agency (EPA) and the increased requirement for reducing hazardous emissions from rotating equipment used in the industrial sector.
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Our clientele includes a mix of silicone elastomer market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America silicone elastomer market , including forecasts for subscribers. This continent databook contains high-level insights into North America silicone elastomer market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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North America silicone elastomer market size, by country, 2019-2030 (US$M)
North America Silicone Elastomer Market Outlook Share, 2022 & 2030 (US$M)
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