Liquid Silicone Rubber Market in Chemical & Materials to Register Steady Growth by 2025
The global market for liquid silicone rubber (LSR) is gaining remarkable momentum with the rising awareness regarding its properties, including excellent chemical inertness, flexibility, heat resistance, and low viscosity. In addition to this, the market is experiencing extensive research and development processes in the field, which is providing a significant push to the market.
LSR find applications across various end-user industries such as automotive, medical, consumer goods, aerospace and aeronautics, building and constructions, and electrical and electronics. Extensive research and development activities are also widening their scope of applications. The spiraling demand for transparent liquid silicone rubber in optical applications is opening new avenues for players in the market. On the flip side, the positive growth of the global LSR market is marred by stringent regulatory policies around the world. This is further compounded by the variations in regulatory scenario across different countries.
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A raft of companies operating in the global LSR market is focusing towards diversifying their product portfolios. These companies are also paying high attention to technological advancements and research and development to develop new and innovative products. Acquisitions and partnerships are go-to strategies for the majority of large players to consolidate their position in the market. Developing countries such as Brazil, China, and India are expected to emerge as a new destination for market participants. LSR manufacturers are pouring hefty funds into strengthening their distribution channels in these countries.
Global Liquid Silicone Rubber Market: Overview
The global liquid silicone rubber (LSR) market will grow at a robust pace between 2017 and 2025. The market will gain from the high growth in the electrical and electronics segments, besides the rising demand in medical applications. Besides this, rapid growth witnessed in the demand for medical grade LSRs will also boost the global LSR market. The medical grade LSR significantly brings down the risk of bacterial infections and is therefore used in skin medications to aid functionality and absorption. In the electrical and electronics application, liquid silicone rubber is used in electrical potting and insulation.
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The report provides a comprehensive market overview covering growth drivers and major restraints influencing its trajectory. To present a detailed assessment, it studies the effect of Porter’s five forces on the global liquid silicone rubber market. The analysis is intended to gauge the degree of competition prevailing in the market and the bargaining power of buyers and sellers. It also sheds light on the threat from new entrants and product substitutes. Information thus included in the study is intended to help readers gain a holistic perspective of the global liquid silicone rubber market.
Global Liquid Silicone Rubber Market: Key Market Segments
Due to the high use of liquid silicone rubber in medical applications, the industry will emerge as one of the leading application segments. The rising demand for LSR-based products in the healthcare will positively impact the global LSR market. Furthermore, the demand from the medical industry is forecast to increase further over the course of the forecast period. The market is expected to gain from the rising demand for disposable medical devices and implants.
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Therefore experts project robust growth in demand for medical grade LSR. The rising aging population, coupled with the increasing health awareness, will drive the use of LSR in the medical sector, thereby boosting the medical grade LSR segment. However, this grade requires approval from various organizations and must cater to several regulations before getting marketed. It is also costlier than other grades, which could create bottlenecks for the segment.
Global Liquid Silicone Rubber Market: Regional Outlook
Regionally, while North America has remained the leading market, over the course of the forecast period Asia Pacific is likely to exhibit greater opportunities. The rising demand from India and China will aid the growth of the liquid silicone rubber market in the region. Besides this, with global companies establishing extensive distribution channels, the regional liquid silicone rubber market is expected to gain significant impetus in the coming years. The increasing demand in healthcare applications, high economic growth, and competitive manufacturing will favor expansion of the market in Asia Pacific.
In North America, the market will witness lucrative opportunities in the U.S., which also is the fastest growing market for liquid silicone rubber in the region. The nations boasts a sophisticated healthcare infrastructure which aids the expansion of the liquid silicone rubber market therein.
Global Liquid Silicone Rubber Market: Vendor Landscape
Dow Corning, Wacker Chemie AG, Shin-Etsu, Bluestar Silicones, and Momentive Performance Materials are among the most prominent companies in the global liquid silicone rubber market. There policies and marketing strategies have profound impact on the market hence the report includes a detailed assessment of the key market players. The analysis covers their recent mergers and aquisitions, financial record of the past few years, product portfolio, and the overall development status.
The report also covers the outcome of SWOT analysis, which identifies the strengths and weaknesses of the companies profiled. It also provides insights into threats and opportunities that they will witness over the course of the forecast period.
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