Silicone Rubber Prices

Silicone Rubber Prices June 2024

During the second quarter of 2024, the silicone rubber prices in the United States reached 9463 USD/MT in June. The market for USA saw a noticeable price increase due to growing energy and output costs, alongside strong the need from the vehicle and building sectors. Despite Boeing’s distribution issues, stable inventory and robust sector performance supported the overall favorable pricing trend.

During Q2 2024, silicone rubber pricing in Germany saw significant price growth, propelled by growing demand in the automotive and aerospace sectors. The quarter ended with silicone rubber priced at 9723 USD/MT in June. Logistical issues and strategic stock accumulation aided in the rising costs, with production activity peaking mid-quarter, further pushing prices upward across the region.

Silicone Rubber Prices March 2024

During the first quarter of 2024, the silicone rubber prices in the United States reached 9687 USD/MT in March. The USA’s market saw a price increase despite challenges in the aerospace industry due to Boeing’s production issues. The automotive industry-maintained demand, supported by resilient construction activity. Rising silicon metal prices and international market support further contributed to the optimistic price trend during the quarter.

In Q1 2024, silicone rubber prices in China showed recovery post Lunar New Year, with increased economic activities balancing earlier declines, reaching 3183 USD/MT. While the automotive sector faced lower sales, it remained active. Aerospace demand struggled, but the broader market-maintained stability due to strong performance in other sectors and increased feedstock prices.

Silicone Rubber Prices December 2023

The silicone rubber prices in the United States for Q4 2023 reached 9305 USD/MT in December. The market was affected by the overall economic conditions in the country, low product orders and increased supply.

The price trend for silicone rubber in China for Q4 2023, reached 3005 USD/MT in December. There was a notable decline in the country’s factory activity in the last month of the quarter, leading to low demand for silicon rubber. Despite this, the increasing product utilization in the automobile industry and the presence of surplus inventory among manufacturers led to its stable price trend.

The price trend for silicone rubber in Germany for Q4 2023, reached 9205 USD/MT in December. This is influenced by difficulties in the construction sector as the market witnessed uncertainties and increased interest rates due to reduced construction activities.

Regional Coverage

The report provides a detailed analysis of the silicone rubber market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the silicone rubber price trend.

Global Silicone Rubber Price

The report offers a holistic view of the global silicone rubber pricing trends in the form of silicone rubber price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into silicone rubber historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into silicone rubber price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed silicone rubber demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Silicone Rubber Price

Q2 2024:

During Q2 2024, the European silicone rubber market experienced a steady price rise, fueled by strong requirement from the aerospace and automobile industries. Logistical challenges, supply chain issues, and higher freight costs aided in the price spike. Germany saw the most significant price changes, driven by augmented manufacturing activity and strategic inventory management. Suppliers proactively built-up inventories in expectation of higher demand, amplifying the upward pressure on prices. Seasonality further influenced market variations, with production activity peaking mid-quarter, resulting in a robust market outlook and a sustained rise in prices.

Q1 2024:

Europe's silicone rubber market faced difficulties in early 2024, marked by a downward price trend as suppliers adjusted inventories in response to sluggish demand. However, the automotive sector displayed stability, contributing to a moderate market recovery despite lower sales compared to the last quarter. In contrast, the aerospace sector, bolstered by Airbus' deliveries, benefitted from challenges faced by Boeing in the United States, which positively influenced European production. Despite some market volatility, the demand for silicone rubber remained supported by resilient core sectors, particularly in the automobile and aerospace industries.

Q4 2023:

In the last quarter of 2023, Europe experienced a downfall due to reduced demand for cars and vehicles in the automotive industry. The decline in demand for silicone rubber and automobiles was caused by the early end of the bonus associated with the purchase of electric vehicle (EVs). Moreover, the growing challenges in the construction sector owing to the rising interest rates are contributing to the downturn in silicone rubber prices.

This analysis can be extended to include detailed silicone rubber price information for a comprehensive list of countries.

North America Silicone Rubber Price

Q2 2024:

The North American silicone rubber industry in the second quarter of 2024 saw a significant price increase, driven by increasing energy and output costs, alongside expected raw material price hikes, especially silicon metal. Strong requirement from key industries, including aerospace, building, and automobile, supported the upward trend. Stable supply chains, despite ongoing overseas issues and Panama Canal drought challenges, ensured enough inventory availability. While the aerospace industry faced setbacks owing to supply chain issues at Boeing, the robust performance of the construction and automotive sectors kept the market bullish, with the quarter concluding with favourable price news.

Q1 2024:

Across North America, the silicone rubber industry saw an increase in prices despite industrial challenges. The automotive industry remained strong, maintaining demand for silicone rubber, even though sales experienced a slight decline. The aerospace industry encountered issues, particularly with Boeing's reduced 737 MAX manufacturing due to regulatory concerns. Meanwhile, the infrastructure development industry performed well, contributing to the overall market strength. A spike in silicon metal prices also played a role in the upward trend. Support from international markets such as Canada, Mexico, and Brazil additionally reinforced the silicone rubber market, demonstrating its determination during the quarter.

Q4 2023:

In North America, the silicone rubber market witnessed a declining trend. The growth trajectory was affected by evolving economic challenges across the globe. The overall economic situation resulted in a decline in price trends, leading to the weakening of product exports. In line with this, the decreasing automotive demand in Europe also affected silicone rubber exports. However, the price trend witnessed an upward trend in the U.S. due to the elevating demand from the automotive industry as vehicle sales increased.

Specific silicone rubber historical data within the United States and Canada can also be provided.

Middle East and Africa Silicone Rubber Price

The report explores the silicone rubber pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on silicone rubber prices for countries can also be provided.

Asia Pacific Silicone Rubber Price

Q2 2024:

Silicone rubber rates in the Asia Pacific region rose steadily throughout Q2 2024, driven by interruptions in the global supply chain, increased freight expenses, as well as inflated requirement in industries such as automobile and building. South Korea saw the most substantial price changes, fueled by local economic activity and external pressures. The rise in silicon metal prices further added to manufacturing costs, and geopolitical issues impacting trade channels exacerbated the situation. The market was also impacted by seasonal movements, with the latter part of the quarter observing a significant rise in costs as production and export demand impelled across the region.

Q1 2024:

The market for silicone rubber in the Asia-Pacific region experienced steady growth in early 2024, with significant activity across major markets. The Indian automotive sector outperformed, showing strong sales and production, while China’s post-Lunar New Year market recovery offset earlier declines. Although aerospace demand in China remained weak, India’s aerospace sector thrived, with Hindustan Aeronautics Ltd securing substantial orders. Japan, as a key silicone rubber exporter, mirrored the broader positive regional trends, with growing demand supported by a spike in feedstock prices and a stable downstream market, ensuring a robust performance across the region.

Q4 2023:

In the Asia Pacific region, silicone rubber prices experienced a stable trend. The market showed a mixed trend, with increased product demand in some sectors and declining activity in others. The construction and service sector displayed reduced product demand due to contracting factory activity and limited consumer spending. However, the growing adoption of silicone rubber in the automotive industry and the presence of surplus stock with suppliers led to its price stability.

This silicone rubber price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Silicone Rubber Price

The analysis of silicone rubber prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Silicone Rubber Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Silicone Rubber Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of silicone rubber pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of silicone rubber at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of silicone rubber price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing silicone rubber price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Silicone Rubber Market Analysis

The global silicone rubber industry size reached US$ 12.4 Billion in 2023. By 2032​, IMARC Group expects the market to reach US$ 20.9 Billion, at a projected CAGR of 6.00% during 2023-2032.

• Silicone rubber is widely utilized for the manufacturing of hoses, gaskets, seals, and insulating materials. According to IMARC Group, the insulation industry is predicted to reach $85.3 billion by 2032, thereby driving the use of silicone rubber, due to its high-temperature resistance, durability, and flexibility.
• Furthermore, the expanding automotive industry and expanding electric vehicle (EV) production is fueling the demand for silicone rubber. For example, in India's vehicle market, two-wheelers and passenger automobiles accounted for 76% and 17.4%, respectively. In addition, the worldwide EV industry was expected to be worth almost $250 billion in 2021. By 2028, it is expected to rise fivefold to US$1,318 billion, resulting in increased demand for silicone rubber.
• In addition, silicone rubber production is showing an upward trajectory owing to its growing use in the electronics industry. Its wide application in mobile devices, wearables, and high-performance computing, is fueling the market demand. For example, India's electronics production is projected to become $300 Bn by FY26. The country is expected to become a $1 Tn digital economy by FY26. This is boosting the demand for silicone rubber in the future due to its excellent insulation properties, thermal stability, and resistance to moisture.
• Along with this, the continuous expansion of the electronics sector owing to the rising digital economy is also favoring the market growth. For instance, the digital economy and its percentage in total economy of India was 3 and 3.5 % in 2014 and 10% in 2023. It is expected to reach almost 20% of India's GDP.
• Silicone rubber is in high demand in the construction industry because of its durability and tolerance to weather conditions. It is utilized for sealing, bonding, and insulation. This market segment's sustained expansion is also supported by trends in global infrastructure development and urbanization. According to the World Bank, by 2045, the world's urban population will increase to 6 billion, boosting the need to plan for growth and provide basic services, infrastructure, and affordable housing. It also stated that by 2050, 7 out of 10 people will live in cities.

Silicone Rubber News

The report covers the latest developments, updates, and trends impacting the global silicone rubber industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in silicone rubber production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the silicone rubber price trend.

Latest developments in the silicone rubber industry:

• November 8, 2023: Specialty Silicone Products (SSP) introduced SSP502-55LT, a nickel-graphite-filled silicone elastomer designed for EMI/RFI shielding in environments such as outer space, where low outgassing and extreme cold are critical. With a 55-durometer rating, this material meets ASTM E595 low outgassing standards and can function in temperatures as low as -70°C, making it ideal for protecting sensitive optics in high-vacuum conditions. It complements SSP's range of low-outgassing compounds, offering an alternative to Parker Chomerics CHO-SEAL and replacing discontinued GORE EMI gaskets, while providing superior cold resistance compared to GORE GS2100 and GS5200.
• March 2, 2023: Shin-Etsu Chemical Co., Ltd. introduced KE-5641-U, a new silicone rubber for high-voltage cable insulation in electric and hybrid vehicles. This material enhances flexibility and reduces weight, meeting the demand for thinner, lighter cables. It offers excellent dielectric strength, heat, and cold resistance, weatherability, and flame retardancy, making it ideal for automotive, industrial, railroad, and energy applications. With this product, Shin-Etsu aims to support sustainability by addressing both social and customer needs through advanced silicone technologies.
• February 13, 2024: Trelleborg Group agreed to acquire Baron Group, an Australian-Chinese manufacturer of precision silicone components, through its Sealing Solutions business area. This acquisition bolsters Trelleborg’s manufacturing capacity and expertise, particularly in medical technology products. With facilities in Australia and China, Baron Group enhances Trelleborg's presence in Asia Pacific and North America, supporting its global partnerships. The acquisition also expands Trelleborg's injection molding and liquid silicone rubber (LSR) capabilities.

Product Description

Silicone rubber is a versatile elastomer consisting of silicon, carbon, hydrogen, and oxygen. It is available in high-temperature vulcanized (HTV) and room-temperature vulcanized (RTV) forms. Silicone rubber is known for its thermal stability, ability to withstand extreme temperatures, pliability, electrical insulating characteristics, and durability. It exhibits excellent resistance to water, ultraviolet (UV) rays, and some chemicals. Silicone rubber is highly flexible and elastic, allowing it to be molded into various shapes and forms without losing its integrity. Moreover, it finds application in a wide range of applications, including vehicle components, medical devices, electronics, cookware, construction, aerospace, consumer items, protective gear, light-emitting diode (LED) encapsulation, and prosthetics. It offers flexibility, longevity, hypoallergenic qualities, low toxicity, minimum environmental impact, microbiological resistance, and reduced upkeep requirements.

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of silicone rubber pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting silicone rubber price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The silicone rubber price charts ensure our clients remain at the forefront of the industry.