Liquid Silicone Rubber Market is Forecasted to Reach US$ 4.32 Billion in 2028, Says Stratview Research

The global liquid silicone rubber market is projected to witness a growth rate of 9.25% annually from 2022 to 2028 with an anticipated size of US$ 4.32 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global liquid silicone rubber market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 4.32 billion
Growth (CAGR): 9.25% during 2022-2028
Forecast Period: 2022-2028
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Liquid Silicone Rubber Market:

The global liquid silicone rubber market is segmented based on molding technology type, grade type, application type, and region.

Based on grade type - The market is segmented as industrial grade, medical grade, and food grade. The medical-grade segment is estimated to grow at the highest rate in the coming five years. The growth is attributed to the rising elderly population across the board, coupled with the growing cognizance about health apprehensions, which is driving the medical applications segment. As grades are subjected to various approvals and protocols for practice in the medical sector, these are more expensive against other grades. Hence, the medical-grade segment is projected to be the largest segment during the forecast period.

Based on application type - The market is segmented as automotive, medical, electrical & electronics, consumer goods, and others. The medical segment is estimated to be the fastest-growing application segment during the forecast period, in terms of both value and volume. The growth is attributed to the growing demand for throwaway medical devices and implants.

To know the most attractive segments, click here:
https://stratviewresearch.com/792/liquid-silicone-rubber-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is the largest market for liquid silicone rubber. This growth outlook is majorly attributed to the following-

• The region is likely to maintain its dominance during the forecast period. China and India are the growth engines of the region.
• China is estimated to be the largest, while India is estimated to be the fastest-growing market in the coming five years. The market is driven by the presence of global manufacturing giants in the region.

Concurrently, North America is also estimated to be the fastest-growing market for liquid silicone rubber during the forecast period. The USA is the fastest-growing market in the region. The market is sustained by the increasing demand for implants, disposable medical devices, and equipment parts.

Liquid Silicone Rubber Market Drivers:

Some of the key drivers listed in the report are given below.

• Rapid development in the medical and electrical & electronics applications and fast progress in the improvement of medical-grade liquid silicone rubbers.
• The engagement of medical-grade liquid silicone rubbers minimizes the hazard of bacterial contaminations and is henceforth employed in skin medications to support functionality and absorption. They are extensively used in electrical & electronics applications for electrical potting and insulation.

Top Companies in the Liquid Silicone Rubber Market:

Stratview Research has identified the following companies as the top market players.
• DOW Corning
• Wacker Chemie AG
• Momentive Performance Materials Inc.
• Shin-Etsu Chemical Co., Ltd.
• Bluestar Silicones (Elkem Group)
• KCC Corporation
• Nusil Technology LLC
• Simtec Silicone Parts, LLC
• Stockwell Elastomerics Inc.
• Zhejiang Xinan Chemical Industrial Group Co., Ltd.
• Reiss Manufacturing Inc.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Liquid Silicone Rubber Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Silicone Market: https://stratviewresearch.com/1448/silicone-market.html
• Self-Lubricating Liquid Silicone Rubber Market: https://stratviewresearch.com/3857/self-lubricating-liquid-silicone-rubber-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

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This release was published on openPR.