Liquid Silicone Rubber Market by Grade (Industrial, Medical, Food), Application (Automotive, Medical (Implants, Medical Devices), Electrical & Electronics (Insulation, and Electrical & Optical), Consumer Goods), Region - Global Forecast to 2026
“Increasing demand for LSR products in the healthcare and electrical & electronics industries, are driving the LSR market, globally”
The market for Liquid Silicone Rubber (LSR) is projected to grow at a CAGR of 8.3% in terms of value, from 2016 to 2026. It is projected to reach USD 3.82 billion by 2026. The LSR market is growing, as the demand for LSR products is increasing in various applications such as, automotive, medical, electrical & electronics, and consumer goods. Since LSRs are heat resistant, chemically inert, biocompatible, and are easy to mold, these are preferred for use in the manufacture of products in the above mentioned applications. Stringent regulatory policies are restricting the growth of this market. Variations in the regulations across countries is a major challenge for the LSR market.
“Medical: The fastest-growing application of the LSR market”
The medical application of LSR is growing due to the increasing demand for LSR products in the healthcare industry. Since medical grade LSRs are bacteria resistant, temperature resistant, inert, and biocompatible, they are apt for usage in various medical applications.
“Asia-Pacific: The fastest-growing market for LSRs”
There is an increase in the demand for LSR applications, especially in emerging markets such as, the Asia-Pacific region and South America. In the Asia-Pacific region, India and China are gradually improving their healthcare facilities, but these are yet to overcome the concerns raised by many fatal diseases. The demand for healthcare is greater in highly populated countries such as India and China. The rapidly growing demand in end-use applications, competitive manufacturing costs, and high economic growth rate favor the growth of the LSR market in the Asia-Pacific region. These factors are attracting companies to adopt the investments and expansions strategies, and market players are focusing on this region to garner higher shares in the Asia-Pacific region LSR market.
The information in this study has been validated through primary interviews conducted with various industry experts across the globe. These primary sources have been divided into three categories: by company type, by designation, and by region.
• By Company Type- Tier 1- 60%, Tier 2- 27%, and Tier 3- 13%
• By Designation- C Level- 33%, D Level- 27%, and Others- 40%
• By Region- North America- 20%, Europe- 13%, Asia-Pacific- 40%, South America- 20%, and Middle East & Africa- 7%
The report provides a comprehensive analysis of company profiles, which include:
• Wacker Chemie AG (Germany)
• Dow Corning (U.S.)
• Momentive Performance Materials Inc. (U.S.)
• NuSil Technology LLC (U.S.)
• Bluestar Silicones (France)
• KCC Corporation (South Korea)
• Shin-Etsu Chemical Co. Ltd (Japan)
• Simtec Silicone Parts LLC (U.S.)
• Stockwell Elastomerics Inc. (U.S)
• Zhejiang Xinan Chemical Industrial Group Co. Ltd (China)
The report provides a detailed description of the technologies associated with LSR fabrication (Liquid Injection Molding System). It provides a qualitative and quantitative description about the grade, and application of LSRs. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of the revenues for the overall LSR market and the subsegments. This report will help stakeholders better understand the competitive landscape and gain more insights, to better position their businesses and market strategies. The report will also help the stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.