The global silicone market is expected to reach USD 18.73 billion by 2024, according to a new report by Grand View Research, Inc. Silicone is used extensively in construction, automotive and electronics on account of its low toxicity, flammability, and smoke density; inertness to chemicals & solvents; and oil & fuel resistance. Products in elastomeric forms exhibit low UV degradation and excellent insulation properties which will promote their usage as electroactive polymers.