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Liquid Silicone Rubber Market Estimated to Record Highest CAGR by 2027
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Liquid Silicone Rubber Market: Dynamics
The Liquid Silicone Rubber market is expected to, in turn, be driven by steady growth in global healthcare industry coupled with increasing aging population in the near future. The demand of liquid silicone rubbers is also expected to amplify owing to anticipated robust growth in electronics sector. Furthermore, demand for Liquid Silicone Rubber from automotive segment is also estimated to uplift the overall demand for liquid silicone rubber over the forecast period. On the other hand stringent rules and regulations concerning specifications associated with use of liquid silicone rubber, especially, in medical devices is expected to hamper the growth of liquid silicone rubber market. Moreover, there has been an increase in application of transparent liquid silicone rubber in optical applications. This is expected to create lucrative opportunities for manufacturers in terms of revenue.
Liquid Silicone Rubber Market: Segmentation
Global Liquid Silicone Rubber market can be segmented on the basis of grade, application and region.
On the basis of grade, global Liquid Silicone Rubber market can be segmented as
Industrial Grade
Medical Grade
Food Grade
On the basis of application, global Liquid Silicone Rubber market can be segmented as
Automotive
Electrical & Electronics
Healthcare & Medical Devices
Consumer Goods
Others
Liquid Silicone Rubber Market: Regional Outlook
North America is expected to be the dominant market for Liquid Silicone Rubber during the forecast period. This can mainly be attributed to strong healthcare and medical devices manufacturing activity in the region. Moreover, steady growth in demand for Liquid Silicone Rubber from across a wide range of applications including medical, automotive, electronics & electrical, and consumer goods, among others is expected to drive growth in demand for liquid silicone rubber during forecast period. Among all applications healthcare & medical application is expected to hold significant share in the Liquid Silicone Rubbers market. This application is primarily driven by the demand for Liquid Silicone Rubber based medical components, medical devices, and implants. Asia-Pacific market is forecast to be the fastest growing market of Liquid Silicone Rubber. In Asia Pacific, India and China are among the leading consumers of liquid silicone rubber and China is expected to account for major share of Liquid Silicone Rubber market in the region whereas India is expected to register relatively faster growth over the forecast period. Anticipated rapid growth in demand from healthcare industry is expected to drive the growth of Liquid Silicone Rubber market in the Asia-Pacific region.
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Liquid Silicone Rubber Market: Market Participants
Some of the market participants operating in global liquid silicone rubber market value chain include:
DOW Corning
Wacker Chemie AG
Shin-Etsu Chemical Co., Ltd.
Momentive Performance Materials Inc.
Nusil Technology LLC
Simtec Silicone Parts, LLC
Zhejiang Xinan Chemical Industrial Group Co., Ltd.
Reiss Manufacturing Inc.
Bluestar Silicones (Elkem Group)
KCC Corporation
Stockwell Elastomerics Inc.
Applied Silicone
Mesgo S.P.A.
Accurate Products
Innovative Silicones
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