Liquid Silicone Rubber Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1932
Liquid Silicone Rubber Market size is may experience significant gains owing to increasing application in healthcare and automotive industry. Aging population and growing health concerns will drive global industry growth.
Liquid silicone rubber is highly pure platinum cured silicone rubber. Key properties of LSR are biocompatibility, chemical & bacteria resistance, superior dielectric strength, high elongation and high tensile strength which has varied application in many industries and will propel product demand.
Liquid silicone rubber is extensively used in surgical tools and equipment including oxygen mask instruments, tracheal tube, rings, stoppers, closures, catheters, liquid feeding bottles, cushioning pads syringe stoppers, saccules and dialysis filters owing to its properties like biocompatibility, temperature resistant and potential for reduced risk of contamination. The U.S. is largest medical devices market and sized over USD 150 billion as of 2015 and expected to grow substantially over time driving liquid silicone rubber market.
Opting medical grade LSR has economies of scale over other materials for manufacturing and is non-allergenic to skin, superior hygienic quality, flexibility and softness which ensure patients comfort. It is also an effective replacement for latex in medical implants.
Liquid silicone rubber finds application in manufacturing automotive parts such as lighted panel buttons, soft touch components, valves, LED headlights, spark plug boots, gaskets, wiper blades bellows and protective caps and custom O-rings. Global automobile production was accounted for over 95 million units in 2016 and is expected to grow in future, driving global liquid silicone rubber market attributing to its properties like high thermal stability, durability and resistance to compression, tears and stress. In addition, LSR generates minimum waste, energy saving, automated process and economies of scale which is likely to favor its application in automotive sector.
LSR is also used in electronics such as wearables and other personal electronic ruggedize the product and enable them to be used in prohibitive environment. Global electronics market sized to be over USD 5,000 Billion in 2016 and is anticipated to grow up to 10% owing to rising economic standards which may have positive influence on liquid silicone rubber market size.
Positive application outlook to produce various consumer goods including molded shower heads, slit valves, printer rollers, cosmetic applicators, dispensers, bakeware, baby products & toys, silicone vibration dampers and high transparency buttons may propel industry growth. LSR is cost effective and less labor intensive due to high-volume production capacity and automation which may fuel product demand.
Stringent regulations pertaining to liquid silicone rubber use in kitchenware and medical devices may challenge industry profitability. However, companies are engaged in formulating product in compliance with safety standards, Wacker Chemie which is a globally operating chemical company has developed ELASTOSIL, in baby care product range which is extremely soft along with high tear & bite resistant.
Asia Pacific led by China, India, Japan and South Korea liquid silicone rubber market size may witness strong gains. Multinational companies are establishing their distribution network, manufacturing plants and R&D centers in this region owing to cheap labor and availability of raw materials which may favor regional industry growth. China has the largest electronics market and is also a major exporter of such products due to impeccable technology innovations along with cheap production cost which may boost product demand in this region.
North America led by the U.S and Canada is the largest liquid silicone rubber market owing to positive indicator in healthcare industry and growing demand for disposable medical devices, implants and equipment propelling regional industry growth. As of 2015, 15% of total population in the U.S. is aged above 65 and needs medical attention hence would impact positively on LSR market size.
Global liquid silicone rubber market is slightly consolidated. Key industry participants operating in this market are Momentive Performance Materials, KCC Corporation, Zhejiang Xinan Chemical Industrial Group, Wacker Chemie AG, Dow Corning, Bluestar Silicones, Shin-Etsu Chemical Co. and Simtec Silicone Parts.
Major companies are focusing on collaborations & partnerships along with strategic alliance which may expand regional presence. Moreover, these companies are entering into partnerships with silicone suppliers to get latest material technology.
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