Global Liquid Silicone Rubber Market 2017-2021
About Liquid Silicone Rubber
One of the major and fast-growing products of silicone elastomers is liquid silicone rubber (LSR). These LSR products consist of silicone materials that have low viscosity and are in liquid form. The various properties of LSR include durability, biocompatibility, temperature and chemical resistance, electrical and mechanical properties, transparency, and pigmentation.
Technavio’s analysts forecast the global liquid silicone rubber market to grow at a CAGR of 6.61% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global liquid silicone rubber market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of liquid silicone rubber.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Liquid Silicone Rubber Market 2017-2021
Technavio recognizes the following companies as the key players in the global liquid silicone rubber market KCC, Momentive, Shin-Etsu Chemical, The Dow Chemical Company, and the Wacker Chemie
Other Prominent Vendors in the market are: Accurate Rubber Industries, CHT, ELMET, Elkem Silicones, GW Plastics, MESGO, NUSIL, Quantum Silicones, Reiss Manufacturing, SIGMA Engineering, Simtec Silicone Parts, Stockwell Elastomerics, and Zhejiang Xinan Chemical Industrial Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is High demand for transparent LSR silicone elastomers in optical application. The high demand for highly transparent LSR silicone elastomers in various end-user applications has motivated manufacturers to increase their R&D expenses to formulate innovative products. This has resulted in the production of innovative transparent LSR material used in the optical application. This material is used as a replacement for Polycarbonates (PC) and Poly methyl methacrylate (PMMA). This can be attributed to its various benefits such as durability, optical clarity, heat, and UV light resistance.”
According to the report, one of the major drivers for this market is High investment on infrastructure in emerging countries. The global construction industry is growing at a faster rate owing to the major contribution from the emerging countries. In 2016, the global construction industry registered $8.82 trillion of revenue, whereas, in 2012, it was only $7.91 trillion. It is expected to reach $14.98 trillion by 2025. The emerging countries in APAC and ROW have contributed a share of 51.9% of the total revenue generated by the construction industry in 2016. They are very likely to account for 62.5% of the market share by 2025. The governments of these regions are investing highly in residential homes owing to the migration of a large number of people toward the metropolitan cities in lieu of jobs, better lifestyle, and other amenities.
Further, the report states that one of the major factors hindering the growth of this market is Stringent clinical and regulatory policies. The biocompatible LSR products are used in critical health related medical application processes. So, it is mandatory for the healthcare providers to follow both pre-market and post-market evaluation of medical devices used in medical practices. The EU and the US regulatory bodies have taken steps to streamline clinical policies and reforms. The EU has formulated regulations to monitor the safety and performance of medical devices used in the clinical processes.
KCC, Momentive, Shin-Etsu Chemical, The Dow Chemical Company, the Wacker Chemie, Accurate Rubber Industries, CHT, ELMET, Elkem Silicones, GW Plastics, MESGO, NUSIL, Quantum Silicones, Reiss Manufacturing, SIGMA Engineering, Simtec Silicone Parts, Stockwell Elastomerics, and Zhejiang Xinan Chemical Industrial Group.
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