According to the latest report by IMARC Group, titled “Liquid Silicone Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global liquid silicone rubber market size reached US$ 2.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2027, exhibiting a growth rate (CAGR) of 8.79% during 2022-2027.
Liquid silicone rubber (LSR) represents a dense, durable, and highly resistant elastomer prepared to utilize an injection molding method that provides ease of processing, part consistency, and enhanced productivity. It offers numerous benefits, including excellent weatherability, chemical stability, heat and abrasion resistance, electrical insulation properties, etc. Liquid silicone rubber can also withstand extreme temperature and harsh environmental conditions, such as wind, rain, and ultraviolet (UV) rays. As a result, it is commonly utilized in industrial tools that require high strength, resistance, and quality. Liquid silicone rubber is also extensively used to produce medical equipment, such as prostheses or organ parts.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The growing number of organ failure cases due to the expanding geriatric population and the rising prevalence of chronic diseases is one of the primary factors driving the liquid silicone rubber market. Moreover, the escalating need for minimizing the risk of contamination and improving the safety of medical devices is further propelling the market growth. Additionally, the increasing product utilization in the automotive industry to manufacture small and complex elastomeric parts at high speeds and optimum productivity is acting as another growth-inducing factor. Besides this, the emerging trend of industrial automation and the growing demand for precision manufacturing are projected to cater to the growth of the liquid silicone rubber market in the coming years.
Breakup by Grade:
- Food Grade
- Industrial Grade
- Medical Grade
Breakup by Curing System:
- Injection Molding
- Peroxide Cure System
- Platinum-Based Cure System
- Condensation Cure System
Breakup by End User Industry:
- Automotive
- Healthcare
- Electrical and Electronics
- Cosmetic and Personal Care
- Consumer Goods
- Others
Breakup by Region:
- 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
Competitive Landscape with Key Player:
- 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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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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