Market Size – USD 2.13 Billion in 2018, Market Growth – CAGR of 7.3%, Market Trends –Expansion in the automotive industry
The Global Liquid Silicone Rubber Market is forecast to reach USD 3.83 Billion by 2026, according to a new report by Reports and Data. Liquid silicone rubber [LSR] have certain unique traits associated with it. Some of the mentionable features associated with LSR are durability, resistance to high temperature, high dielectric strength, and tensile strength. The presence of these traits in LSR results in its increased application in various industries ranging from the healthcare sector to the electronics industry. Among the different sectors, it is applicable, in the automotive industry, where it finds significant application. A combination of these traits of LSR like lightweight and durability has resulted in its increased use in the automotive industry.
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- The Dow Chemical Company,
- Wacker Chemie,
- Shin-Etsu Chemical,
- Nusil Technology LLC,
- KCC Corporation,
- Zhejiang Xinan Chemical Industrial Group Co.,
- Simtec Silicone Parts,
- Momentive Performance Materials Inc.,
- Simtec Silicone Parts,
- Stockwell Elastomerics Inc.,
- Laur Silicone.
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Liquid Silicone Rubber Market segmentation by Types:
- Injection molding
- Peroxide cure system
- Platinum-based cure system
- Condensation cure system
Liquid Silicone Rubber Market segmentation by Application:
- Medical implants
- Medical devices
- Sealing, coatings, and gaskets
- Windshield wipers sensors
- Electrical Insulation
- LED Light Components and panel buttons
- Water Contact Products
- Home Appliance Components
- Infant Care Products
Regional Analysis Covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Further key findings from the report suggest:
The Liquid silicone rubber market held a market share of USD 2.13 Billion in the year 2018 that is forecasted to grow at a rate of 7.3% during the forecast period.
Continuous emphasis on R&D and technological advancements by key players of the market like Dow Corning along with the introduction of new products would enhance industry opportunities of LSR market during the forecast period, which would positively impact its market growth.
In context to Grade, the Industrial segment can be seen to lead that generated the highest revenue of USD 0.91 Billion in the year 2018 with a considerable growth rate of 7.6% during the forecast period. Factors like the increased application of LSR in the automotive sector for manufacturing of various parts of the automobile, along with its use in different other industrials purposes, have contributed to the revenue generated by this segment.
In regards to Curing system, Injection molding segment is dominating the market that generated the highest revenue of USD 1.02 Billion in 2018 with the growth rate of 7.6% during the forecast period. The fact that there has been an increased demand of LSR in the industrial segment and this type of curing system is useful in producing durable parts, in large volume as per the need of various industries, have contributed to the revenue generated by this segment.
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