Liquid Silicone Rubber Market 2020 Global Industry – Key Players, Trends, Consumption, Demand - Analysis to 2023

 Market Overview

Liquid silicone rubber is silicone elastomer available in different grades such as industrial, food and medical. Liquid silicone rubber (LSR) possess unique properties such as chemical inertness, electrical resistance, high thermal stability and temperature resistance among others. Due to superior properties, LSR are used in various applications such as medical devices, automotive and electrical goods.  

The protuberant factors and trends fostering growth of the global liquid silicone rubber market are growing the demand for LSR in surgical tools and equipment coupled with rising geriatric population. Extensive research and development in innovating material technology is anticipated to cater to a huge growth of the electronic industry, which, in turn, drives the global liquid silicon rubber market. For instance, LSR is used in manufacturing of various modern applications such as kitchenware, LED headlights, fitness tracker, and medical implants. These products are projected to open new avenues for liquid silicone rubber manufacturer.

Additionally, rapid urbanization, changing standard of living and easy compatibility of products are fueling the demand for the electronics and consumer goods, thereby supplementing the demand for liquid silicone rubber market. However, stringent regulation regarding emission of harmful gases may restraint the market growth.

Market Segmentation:

The global Liquid Silicone Rubber Market is segregated into the grade and application. On the basis of the grade, the market is further categorized into industrial, food and medical segments. On the basis of the application, the market is segmented into automotive, electrical & electronics, consumer goods and medical.

Competitive Analysis:

Some of the major players functioning in the global liquid silicone rubber market are Wacker Chemie AG (Germany), Dow Corning Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), KCC Corporation (South Korea), Elkem Group (China), Simtec Silicone Parts, LLC (U.S.), Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China), Stockwell Elastomerics Inc. (U.S.) and Reiss Manufacturing Inc. (U.S.).

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Market Scenario:

The medical grade is the most widely used grade in the global liquid silicone rubber market. High dielectric strength, bacterial resistance, and temperature resistance makes LSR an ideal choice for manufacturing medical devices, accessories and fittings in the healthcare industry. Moreover, growing stern regulations and compliances of many specification for use in medical products are further projected to drive the overall market growth. In addition, replacement of latex with LSR in impactable devices are providing new opportunities to market players.

Industrial rubber segment occupied second leading segment owing to growing electrical & electronic industry along with rising aerospace and construction industry. LSR has ability to withstand high temperature and good flexibility enables the material for usage in keypads, antennas and electronic displays. 

Among the application, medical industry is leading segment due to growing demand of disposable devices and medical implants. Hugh R&D investments in medical industry is also likely to foster the growth of market. Automotive application segment witnessed reasonable growth owing to growing application of LSR in manufacturing windshield wiper blades, LED headlights, gaskets and other parts which can minimal weight and increase efficiency.

Regional Analysis:

The global liquid silicone rubber market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is projected to witnessed strong growth in global market and is anticipated to continue its dominance due to rising demand for liquid silicon rubber in various applications such as electronic and consumer goods. Countries such as China, Japan and India are the major players in this region. The North America region is estimated to witness a higher growth due to rapid technology advancement in material along with supporting government policies in healthcare industry. U.S. is leading country owing to increasing demand for durable and lightweight LSR material in automotive, construction, aviation, electrical & electronics, and others. The representation of new rules and regulations set by the European Union has driven the manufacturers to use efficient and low emission materials in the end-use industries. Moreover, it is projected that the advancing research & development of liquid silicone rubber in the market has propelled this region to witness a significant growth in Germany, the U.K and Italy. The Middle East & Africa is estimated to observe a significant growth due to increasing consumption of low density materials in aerospace, construction, medical, and others.

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