South Africa Silicone Elastomer Market Size & Outlook
South Africa silicone elastomer market, 2019-2030 (US$M)
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South Africa silicone elastomer market highlights
- The South Africa silicone elastomer market generated a revenue of USD 22.0 million in 2022 and is expected to reach USD 43.8 million by 2030.
- The South Africa market is expected to grow at a CAGR of 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.
Silicone elastomer market data book summary
| Market revenue in 2022 | USD 22.0 million |
| Market revenue in 2030 | USD 43.8 million |
| Growth rate | 9% (CAGR from 2022 to 2030) |
| Largest segment | Lsr |
| Fastest growing segment | RTV |
| Historical data | 2019 - 2021 |
| Base year | 2022 |
| Forecast period | 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, South Africa accounted for 0.4% of the global silicone elastomer market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa silicone elastomer market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 43.8 million by 2030.
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Silicone Elastomer Market Scope
Silicone Elastomer Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Africa 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 61.36% in 2022. Horizon Databook has segmented the South Africa silicone elastomer market based on htv, rtv, lsr covering the revenue growth of each sub-segment from 2019 to 2030.
Significant structural changes in manufacturing sector are projected to emerge as a pivotal contributor to the silicone elastomers market growth. According to the data provided by Statistics South Africa— the national statistical service of South Africa— in July 2022, a solid rebound was observed in the sales of motor vehicle parts & accessories and other transport equipment compared to June 2022.
In addition, the footwear and other manufacturing sectors also showed a positive outlook. Thus, the positive outlook of key end-use industries is anticipated to fuel the demand for silicone elastomers over the forecast period. South Africa’s economic, social, and political landscape is dominated by mining industry.
The country holds reserves of titanium, vanadium, chrome, coal, platinum, diamonds, gold, and other minerals. According to the government of South Africa, mining sector registered a growth of 11.8% in 2021, which was high across all sectors.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa silicone elastomer market , including forecasts for subscribers. This country databook contains high-level insights into South Africa silicone elastomer market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa silicone elastomer market size, by product, 2019-2030 (US$M)
South Africa Silicone Elastomer Market Outlook Share, 2022 & 2030 (US$M)
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