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Liquid Silicone Rubber

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Liquid Silicone Rubber Market report categorizes global market by application, end use industries, and geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018–2024
Liquid Silicone Rubber Market - Global Industry Insights, Trends,
Outlook, and Opportunity Analysis, 2018–2024
Silicone rubber is defined as an elastomer of silicone that also contains hydrogen, carbon,
and oxygen. Silicone rubber is available as one or two-part polymers and comprises fillers to
improve properties and reduce costs. Silicone rubber is stable, non-reactive, and resistant to
extreme environments and temperatures. It can be used in a wide range of products,
including food storage products, textiles, footwear, electronics, and medical devices, among
others. This is mainly attributed to its advantageous properties and ease of manufacturing.
One of the major factors driving growth of liquid silicone rubber market is increasing demand
for electronics. Silicon rubber finds wide application in the healthcare industry and thus,
rampant growth of this sector across the globe is further fueling demand for liquid silicone
rubber. However, stringent regulations pertaining to use of liquid silicone rubber in medical
devices is expected to hamper growth of liquid silicone rubber industry over the forecast
period (2018–2024). Therefore, the liquid silicone rubber market is expected to witness
moderate growth in terms of revenue over the forecast period.
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Rising aging population to drive growth of liquid silicone rubber market
The growing healthcare industry and increasing aging population are expected to be major
factors driving demand for liquid silicone rubber in the near future. Demand for liquid silicone
rubber is also expected to augment due to burgeoning growth of the electronics sector.
Furthermore, automotive sector is also projected to contribute to increase in demand for
liquid silicone rubber over the forecast period. Stringent regulations pertaining to
specifications of using liquid silicone rubber in medical devices is expected to be one of the
major restraining factors for growth of liquid silicone rubber market. Demand for transparent
liquid silicone rubber in optical applications is expected to increase, thus creating lucrative
opportunity for manufacturers in terms of revenue.
Regional Outlook
North America was the largest market for liquid silicone rubber in 2015. This is mainly
attributed to growing population and rampant growth of the healthcare industry in the region.
Asia Pacific is expected to be the fastest growing region in the global liquid silicone rubber
market over the forecast period. Growth of the market in the region is mainly attributed to
increasing demand from economies such as India, China, and Indonesia. Markets in Latin
America and Europe are also expected to gain traction in the near future due to growth of
associated industries in these regions.
Competitive Analysis
Some of the major players identified in the value chain of global liquid silicone rubber market
are Wacker Chemie AG, Shin-Etsu Chemical Co. Ltd, DOW Corning, KCC Corporation,
Momentive Performance Materials Inc., Bluestar Silicones (Elkem Group), Simtec Silicone
Parts, LLC, Zhejiang Xinan Chemical Industrial Group Co., Ltd., and Reiss Manufacturing
Inc., among others.
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Author
apeksha motghare
apeksha motghare266   documents Email
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