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The latest report by IMARC, titled “ LiquidSiliconeRubberMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast 2023-2028
” the global liquid silicone rubber market size reached US$ 2.4 Billion in 2022.
Liquid silicone rubber (LSR) is a type of dense, durable, and highly resistant elastomer. It is manufactured by injecting liquid silicone rubber into a mold cavity and allowing it to cure. This process allows for high precision and repeatability, due to which it is used for high-volume production. LSR is known for its high tear strength, good elongation, and high resistance to heat and cold. Besides this, it offers superior weatherability, chemical stability, heat and abrasion resistance, and electrical insulation properties than organic rubber. LSR is also biocompatible, making it ideal for use in medical applications. In addition to this, it can be molded into complex shapes and thin walls. Consequently, it finds extensive applications in the automotive, healthcare, consumer goods, and electronics industries.
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One of the key factors driving the market growth is the widespread product adoption for manufacturing various medical equipment, such as organ implants and prostheses, that require high levels of safety and sterility. LSR is a versatile material that can be sterilized using various techniques, including steam autoclaving, ethylene oxide (ETO), gamma, and e-beam methods. Moreover, the rising prevalence of chronic diseases and incidences of organ failure cases, particularly among the increasing geriatric population, is presenting remunerative growth opportunities for the market. This is further supported by the surging need to minimize the risk of contamination and enhance the safety of medical devices. In addition to this, the widespread product utilization across the automotive industry for manufacturing small and complex elastomeric parts, enabling high-speed production and optimum productivity, is aiding in market expansion.
In line with this, the inflating sales of vehicles, the emerging trend of industrial automation, and the expanding demand for precision manufacturing are contributing to the market growth. Furthermore, the increasing product adoption across various industries, such as aerospace, construction, electronics, and food and beverage (F&B), as adhesives, sealants, potting, coatings, lubricants, and encapsulating compounds are creating a positive outlook for the market. Looking forward, the market value is projected to reach US$ 3.9 Billion by 2028, expanding at a CAGR of 8.5% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyGrade:
• Food Grade
• Industrial Grade
• Medical Grade
BreakupbyCuringSystem:
• Injection Molding
• Peroxide Cure System
• Platinum-Based Cure System
• Condensation Cure System
BreakupbyEndUseIndustry:
• Automotive
• Healthcare
• Electrical and Electronics
• Cosmetic and Personal Care
• Consumer Goods
• Others
BreakupbyRegion:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• Avantor Inc
• Elkem ASA (China National Chemical Corporation)
• Jiangsu Tianchen New Materials Co. Ltd
• Momentive Performance Materials Inc.
• Reiss Manufacturing Inc.
• Shin-Etsu Chemical Co. Ltd.
• Simtec Silicone Parts LLC (The Rico Group)
• Stockwell Elastomerics Inc.
• The Dow Chemical Company
• Wacker Chemie AG
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https://www.imarcgroup.com/liquid-silicone-rubber-market
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