Liquid Silicone Rubber Market to Reach Over USD 4.0 Billion

WASHINGTON, Jan. 25, 2022 (GLOBE NEWSWIRE) — The global liquid silicone rubber market size is expected to reach over USD 4.0 billion by 2028, showing a compound annual growth rate (CAGR) of 10.0% over the forecast period. The market reached 2.5 billion USD in 2021.

Market Summary

The growing demand from the automotive and medical sectors has emerged to be a major driver of the overall market in the coming years. Sectors such as medical services and automobiles are in high demand due to their robustness and ability to match all safety and cost-effectiveness requirements, according to Vantage Market Research, in a report titled Liquid Silicone Rubber Market by Type (Food Grade LSR, Industrial Grade LSR, Medical Grade LSR), by End User (Healthcare and Medical Devices, Automotive, Electrical & Electronics, Consumer Goods), by Region (North America, Latin America, Asia and Pacific, Europe) – Global Industry Assessment (2016 – 2021) and Forecast (2022 – 2028).

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  • In-depth industry analysis, introduction, overview, and outbreak of the COVID-19 pandemic.
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(Please note that the sample for this report has been updated to include a pre-delivery COVID-19 impact study.)

List of prominent players in the liquid silicone rubber market:

  • Dow Corning
  • Momentive Performance Materials Inc.
  • KCC . Company
  • Simtec Silicone Parts, LLC
  • bluestar
  • Stockwell Elastomerics Inc.
  • Zhejiang Xinan Chemical Industrial Group Co., Ltd.
  • Shin-Etsu Chemical Co., Ltd.
  • Wacker Chemie AG
  • Nocel Technology LLC
  • luer silicone

market dynamics:

Driver: High demand for medical devices and healthcare

Medical equipment is one of the major market applications of liquid silicone rubber. Due to its chemical properties, purity, flexibility, physical resistance and sterilization properties, the demand for liquid silicone rubber is increasing in the medical device sector. Recently, liquid silicone rubber has its uses in the coating of medical textiles, medical cables, catheters, medical tubes, breathing masks, and other markets. The Chinese government has expanded its focus on advanced medical devices and biomedical manufacturing under the “Made in China 2025” plan, which intends to increase the domestic content of basic materials and components to 70% by 2025. This is likely to increase the demand for the liquid silicone rubber market.

Driver: unique properties such as chemical inertness, electrical resistance, etc.

Liquid silicone rubber has unique properties such as chemical inertness, electrical resistance, and ability to withstand extreme temperatures, among others. These features have allowed it to be widely adopted across the electrical, electronics, medical, automotive and various other sectors. The increasing number of elderly is increasing the demand for medical devices and implants in the medical sector.

The growth of liquid silicone rubber is hampered due to strict regulations in the medical field. There has been a growth in regulations covering the use of substances in implants, medical devices, and kitchen utensils. Players have to comply with strict regulations to maintain their market position.

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Regional trends

North America has captured the largest share of the regional market for liquid silicone rubber, due to the presence of the largest consuming countries such as India and China, the demand for liquid silicone rubber in the region is rising at a significant rate.

Main results

  • Medical degree for large share: Devices made of medical-grade liquid silicone rubber improve life expectancy because they reduce pain and are useful in making pacemakers and artificial joints. Rings, tampons, closures, gaskets, liquid feeding bottles, cushioning pads, and catheters are a few of the items manufactured with medical grade liquid silicone rubber.
  • Cars have a large share: Components made of liquid silicone rubber are not heavy, thus increasing fuel efficiency. LSR also reduces emissions of NO2 and CO2 which are air pollutants. Automotive applications of liquid silicone rubber such as LED headlights, gaskets, belt components, windshield wiper blades, valves, diaphragms, dampers, seals, and other components.

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Analysis of the impact of COVID-19:

The COVID-19 outbreak has affected many industries around the world. Governments around the world have implemented strict lockdown measures and social distancing measures in order to curb the rapid spread of the epidemic. Manufacturing facilities around the world were closed during the early stages of the pandemic. Moreover, the post-epidemic economic crisis may significantly delay the commercial spread of the liquid silicone rubber market. Hence, the market players faced many challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will be made available online. The impact of COVID-19 on market demand is considered while estimating the current and projected market size and market growth trends for all regions and countries based on the following data points:

  1. Assessing the impact of the COVID-19 pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin america
    5. Middle East and Africa
  1. Quarterly revenue forecasts for the market from Asia Pacific 2020 and 2021
  2. Key strategies companies have taken to tackle COVID-19
  3. long term dynamics
  4. short term dynamics

A report on the Liquid Silicone Rubber Market Report Highlights:

  • Market assessment
  • Distinctive insights
  • Competitive scene
  • Analysis of the impact of COVID
  • Historical data, estimates and forecasts
  • Company Profile
  • Global and Regional Dynamics

Browse market spreadsheets and numbers spread across 170 pages and in-depth table of contents on Liquid Silicone Rubber Market by Type (Food Grade LSR, Industrial Grade LSR, Medical Grade LSR), by End User (Healthcare and Medical Devices, Automotive, Electrical & Electronics, Consumer Goods), by Region (North America, Latin America, Asia and Pacific, Europe) – Global Industry Assessment (2016 – 2021) and Forecast (2022 – 2028)”. View Detailed Research Report Here – https://www.vantagemarketresearch.com/press-release/L-liquid-silicone-rubber-market-541416

Key questions answered in the report include:

  • This report provides all the information about the industry analysis, revenue and overview of this market.
  • What will be the rate of increase in market size and growth rate by the end of the forecast period?
  • What are the key global market trends of Liquid Silicone Rubber Market influencing the development of the market?
  • What are the vital outcomes of the SWOT analysis of the major players operating in the Liquid Silicone Rubber Market?
  • What are the potential growth opportunities and threats faced by the key competitors in the market?
  • What are the market opportunities and threats faced by the vendors in the global Liquid Silicone Rubber Market?

This market is titled “Liquid Silicone Rubber Market It will cover the exclusive information in terms of regional analysis, forecasting, quantitative data – units, major market trends and various other information as mentioned below:

Report feature details
Market size in 2021 2.5 billion US dollars
Expected market size in 2028 4.0 billion US dollars
CAGR growth rate A compound annual growth rate of 10.0% from 2022 to 2028
base year 2021
Historic years 2016 – 2020
prediction years 2022 – 2028
covered slices Type: LSR Food Grade, LSR Industrial Grade, LSR Medical Grade
End User: – Health and medical devices, automobiles, electrical and electronics, consumer goods, beauty and personal care
Quantitative data – units Revenues in US$ Million/Billion and CAGR from 2022 to 2028
Covered areas North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Countries covered United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others
Report coverage Market growth drivers, restraints, and opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Organizational Landscape, Market Attractiveness Analysis by Segments and Region, Company Market Share Analysis, and COVID-19 Impact Analysis.

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