PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1176398
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1176398
According to SPER Market Research, the Global Conductive Silicone Rubber Market is estimated to reach USD 12.52 billion by 2032 with a CAGR of 7.36%.
Conducive silicone rubber demand is anticipated to rise in response to increased demand for lightweight automotive components brought on by better fuel economy and fewer emissions. Because it has exceptional anti-wear and anti-blocking capabilities, the substance is utilised to make plastic and rubber modifiers for interior parts. Over the next years, growth is anticipated to be hampered by rising consumer awareness of the advantages of bio-based chemicals over synthetic alternatives. The supply of raw materials is also anticipated to be seriously threatened by the expanding applications of silicone in the production of lubrication oils and greases, which will drive up the cost of the final product overall throughout the projected period. Consumer inclination in the context of an anticipated economic downturn, changes to industrial regulations to reflect escalating environmental concerns, significant swings in raw material prices brought on by ongoing geopolitical tensions, and anticipated economic turbulences are noted as the major issues that the Conductive Silicone industry players will need to address over the short and medium term forecast.
COVID-19 compelling the need for participants in the conductive silicone business to be more watchful and forward-looking. Companies are being forced to adapt their business models as a result of the pandemic COVID-19's significant effects on the Conductive Silicone supply chain and the growing movement for a cleaner, more sustainable world. However, it was challenging for firms and sectors to regain the essential workforce after the lockout. Production was significantly impacted by this. Manufacturers are working on increasing the output.