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Liquid Silicone Rubber Market Global Trends, Key Vendors, Drivers, Profits & Analysis 2023 Forecast
Liquid Silicone Rubber , Liquid Silicone Rubber industry ,Liquid Silicone Rubber 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.
Industry/ Innovation/ Related News:
January 2018- U.S. based Starlim North America Corp. announced to complete expansion project of liquid silicone rubber at their London based plant. This strategic move will help company to meet the rising demand for liquid silicone rubber worldwide.
February 2017- Foster Corporation, one of the leading supplier of medical solutions announced to distribute medical grade silicone rubbers such as WACKER SILPURAN for the North American healthcare markets. This distribution agreement will help WACKER to offer customers to receive best possible support, service, and logistics in North America.
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August 2015- Trelleborg announced to develop their liquid silicone rubber injection molding production footprint. This capacity expansion is predicted to allow future growth in small to medium sized technical liquid silicone rubber specifically for automotive, industrial, and electronics market.
October 2017- Wacker Chemie AG is planning to increase their expansion
projects in the US, Europe, and Asia. The company announced to start their new silicone elastomer manufacturing plant in Jincheon, South Korea. This capacity expansion will help company to meet the rising demand for silicone rubber across the globe.
Global Key Players:
• Wacker Chemie AG
• Dow Corning Corporation
• Momentive Performance Materials Inc.
• Shin-Etsu Chemical Co., Ltd.
• KCC Corporation
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.
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
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