PUBLISHER: Grand View Research | PRODUCT CODE: 1375936
PUBLISHER: Grand View Research | PRODUCT CODE: 1375936
The global conductive silicone rubber market size is estimated to reach USD 12.14 billion by 2030, according to a new report by Grand View Research, Inc.., expanding at a CAGR of 8.0% from 2023 to 2030. Growing application of conductive silicone rubber in electrical & electronics industry particularly in light of the growing industry in Asia is expected to be a key factor responsible for market growth.
Among industrial machines, oil & gas application is expected to witness fastest growth in terms of volume, growing at a CAGR of 8.6% over the forecast period. Expansion of upstream petroleum sector in China, India and Brazil in light of favorable policy to promote new investments along with rising domestic demand is likely to augment market growth. Thermally conductive silicone rubber films find application in vacuum lamination machines for solar industry on account of exhibiting shock absorption, glass panel protection and stress balancing properties.