Liquid Silicone Rubber Market Business Overview, Growth and Forecast Research 2017-2025

Liquid Silicone Rubber Market Business Overview, Growth and Forecast
Research 2017-2025
Liquid silicone rubber are a platinum cured two part elastomer that are injected into molds
for manufacturing of various parts which includes electronic potting, lighted panel buttons,
dampers, noise reduction folds, dialysis filters, soft toys, and others. The liquid silicone
rubber market is anticipated to grow due to its increasing application in various end-use
industries from cosmetics and home appliances to aerospace, construction and medical
devices, coupled with its vast range of operating temperatures from -65 to 150°C. The key
functional properties such as bacteria resistance, chemical resistance, biocompatibility,
high elongation, high tensile strength, superior dielectric strength, and others are
attributed to boost the liquid silicone rubber market in the forecast period.
The liquid silicone rubber market is anticipated to propel due to its application in the
manufacturing of automotive parts such as custom O-rings, lighted panel buttons, valves,
soft touch components, spark plug boots, LED headlights, wiper blades bellows, protective
caps, gaskets, and others. The liquid silicone rubber owing to its high tear strength,
resistivity towards heat and cold, defoaming properties, weatherability, adhesiveness, and
its dielectric properties is driving the liquid silicone rubber market with its addition in
automotive manufacturing. According to the Organisation Internationale des Constructeurs
d'Automobiles (OICA), the global production of automotive accounts to 97.3 million units in
2017, with a growth of 2.36% globally. Thus, the ability to liquid silicone rubber to
minimize waste, automated process, and saving energy in automotive is expected to boost
the global liquid silicone rubber market in the forecast period (2018-2025).
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Liquid Silicone Rubber & Its Application in Medical Devices
The growth of liquid silicone rubber is majorly attributed to its application medical
technology and devices, owing to its superior physical properties such as high operating
temperatures, stability, heat resistivity, and its feature of not to turn brittle in cold
conditions serves as a major benefit for its application in medical devices. The LSR are
mainly used for the manufacturing various medical devices and surgical tools such as
tracheal tube, oxygen mask, stoppers, rings, closures, liquid feeding bottles, catheters,
saccules, dialysis filters, cushioning pads syringe stoppers, and others. According to the
World Health Organization (WHO), in 2016, the medical devices market is accounted for
US$ 237 billion which is anticipated to grow at a CAGR of 7.8% in the coming years. Thus,
the application of liquid silicone rubber in medical devices is in turn anticipated to boost
the liquid silicone rubber market in the forecast period. Selection of medical grade liquid
silicone rubber over other materials such as latex which causes allergies to 12 to 17% of
healthcare workers, according to Food and Drugs Association (FDA), is attributed to propel
the liquid silicone rubber market. The use of LSR in medical devices provides a better
economies of scale above other materials as they are have super hygienic quality, nonallergenic to skin, and flexibility which makes sure of the comfort in usage of the equipment
and devices. Furthermore, all the grades of liquid silicone rubber (LSR) are available
commercially in the market which are biocompatible and precisely approved and
developed medical application and implants adhering to the regulations by Food and Drugs
Administration. Owing to these factors the liquid silicone rubber market is anticipated to
propel in the forecast period.
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Regional Acumens:
The liquid silicone rubber market is anticipated to be dominated by North America and
Asia Pacific being the fastest growing region for the market. The market in North America
is expected to dominate owing to its healthcare industry coupled with its increasing
demand for disposable medical implants, equipment, and devices are propelling the
regional market growth for liquid silicone rubber. According to the World Health
Organization (WHO), in 2016, 17% of the population in the United States are aged above 65
which is coupled with the increase in medical attention, which in turn is expected to
positively influence the liquid silicone market in North America during in the forecast
period. In Asia Pacific, due to low production cost major companies such as Dow Chemicals,
Momentive Performance Materials Inc., and others expanding their research &
development centers along with manufacturing plants, is in turn expected to boost the
liquid silicone rubber market in the forecast period.
Market Players:
The liquid silicone rubber market is anticipated to grow as various major companies lining
up towards innovations in liquid silicone rubber by their various products. For instance,
Wacker Chemie AG, a global chemical company, developed ELASTOSIL, which are
applicable to all the end-use industries such as automotive, electronics, textiles, baby
articles, domestic appliances, toys, and others. Major players for liquid silicone rubber
market include Shin-Etsu Chemical Co., The Dow Chemical Company, Momentive
Performance Materials Inc., KCC Corporation, Wacker Chemie AG, and Zhejiang Xinan
Chemical Industrial Group among others.
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Liquid Silicone Rubber Market, By Application (Harness Components, Seals & Gaskets, Infusion Pumps, Syringe Stoppers, Electronic Potting, Lighted Panel Buttons, Baking Molds, Water Cans, Infant Nipples, Others), By End-Use Industry (Healthcare, Electrical & Electronics, Aerospace, Construction, Others) – Global Industry Insights, Trends And Forecast, 2017-2025

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