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Global Silicone Elastomers Market to Reach $8.1 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Silicone Elastomers estimated at US$4.6 Billion in the year 2020, is projected to reach a revised size of US$8.1 Billion by 2027, growing at a CAGR of 8.5% over the analysis period 2020-2027. LSR, one of the segments analyzed in the report, is projected to record a 9.5% CAGR and reach US$4.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the HTV segment is readjusted to a revised 7.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 11.7% CAGR
The Silicone Elastomers market in the U.S. is estimated at US$1.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2027 trailing a CAGR of 11.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.4% and 6.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2027.



RTV Segment to Record 6.9% CAGR
In the global RTV segment, USA, Canada, Japan, China and Europe will drive the 6.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$420.5 Million in the year 2020 will reach a projected size of US$650.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 7.7% CAGR through the analysis period.