Silicone Elastomers Market to Hit $12.75B by 2031 (CAGR 6.5%)

Silicone Elastomers Market to Hit $12.75B by 2031 (CAGR 6.5%)

Keywords: silicone elastomers, market forecast, 2026–2031, CAGR 6.5%

Summary: MarketsandMarkets projects the silicone elastomers market will grow from $9.31B in 2026 to $12.75B by 2031, at a 6.5% CAGR.
 

Detailed Content:

A May 20, 2026, report by MarketsandMarkets forecasts robust expansion for silicone elastomers (HTV, RTV, LSR) across automotive, electronics, healthcare and construction sectors. Key growth drivers include rising demand for lightweight, heat‑resistant materials in EVs, medical implants and 5G infrastructure. The report highlights LSR as the fastest‑growing segment due to its versatility in high‑precision molding and food‑contact applications.