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Liquid Silicone Rubber Market 2018 Global Industry Analysis by Top Key Players, Production Developments, Emerging Trends, Future Growth Strategies till Forecast 2023
Liquid Silicone Rubber Market, Liquid Silicone Rubber Market size, Liquid Silicone Rubber Market share, Liquid Silicone Rubber
Market Scenario:
The medical grade is the most widely used grade in the global liquid silicone rubber market. High dielectric strength, bacterial resistance, and temperature resistance makes LSR an ideal choice for manufacturing medical devices, accessories and fittings in the healthcare industry. Moreover, growing stern regulations and compliances of many specification for use in medical products are further projected to drive the overall market growth. In addition, replacement of latex with LSR in impactable devices are providing new opportunities to market players.
Industrial rubber segment occupied second leading segment owing to growing electrical & electronic industry along with rising aerospace and construction industry. LSR has ability to withstand high temperature and good flexibility enables the material for usage in keypads, antennas and electronic displays. Among the application, medical industry is leading segment due to growing demand of disposable devices and medical implants. Hugh R&D investments in medical industry is also likely to foster the growth of liquid silicone rubber market. Automotive application segment witnessed reasonable growth owing to growing application of LSR in manufacturing windshield wiper blades, LED headlights, gaskets and other parts which can minimal weight and increase efficiency.
Market Segmentation:
The global liquid silicone rubber market is segregated into the grade and application. On the basis of the grade, the market is further categorized into industrial, food and medical segments. On the basis of the application, the market is segmented into automotive, electrical & electronics, consumer goods and medical.
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Key Players
•Wacker Chemie AG
•Dow Corning Corporation
•Momentive Performance Materials Inc.
•Shin-Etsu Chemical Co., Ltd.
•KCC Corporation
•Elkem Group
•Simtec Silicone Parts
•Zhejiang Xinan Chemical Industrial Group
•Stockwell Elastomerics Inc.
Regional Analysis:
Liquid silicone rubber market is segmented across five regions such as Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Amon these, Asia Pacific is the leading region due to growing demand for the product in electrical & electronics and medical applications. Favorable government policies such as 100% FDI in the automotive industry is likely to propel the market growth in this region. China and India witnessed strong market due to the presence of established players, easy availability of raw material, and strong distribution network. China is leading market in electronic industry and exports such products with impeccable technology innovations, which, in turn, impact positively on market growth.
North America is projected to grow significantly followed by Europe region. Rising expenditure on medical devices along with growing healthcare industry is anticipated to augment the market growth. Installation of huge R&D facility, technological advancement in medical devices and growing application of LSR in electronic industry are further posing new opportunity in the coming years. Moreover, multinational companies are focusing on collaboration or joint venture with distributors to achieve sustainable growth in the overall market.
The European market witnessed a remarkable growth in the last couple of years. It is projected that due to technological advancement to manufacture LSR in end-use industries, the market is set to grow at a higher rate during the forecast period. Growing demand for lightweight material in the automobile industry in the region is also fueling the market growth. Moreover, the growing mergers & acquisitions among the leading companies is set to propel the market in the U.K, Italy, Germany, and France over the forecast period.
Intended Audience
•Liquid silicone rubber market manufacturers
•Traders and Distributors of Liquid silicone rubber market
•Production Process Industries
•Potential Investors
•Raw Material Suppliers
•Nationalized Laboratory
Full report on Liquid Silicone Rubber Market report spread across 135 pages, profiling 15 companies and supported with tables and figures available @ https://www.marketresearchfuture.com/reports/liquid-silicone-rubber-market-5421
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