The market is expected to generate an incremental $ opportunity of US$ 2,224.1 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : November 2022 ID: CVC-00553 Format: PDF Pages: 300
Liquid Silicone Rubber Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Liquid Silicone Rubber Market grew at a CAGR of 5.6% between 2017-2021 and is estimated to be US$ 2,436.9Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.7% and is expected to reach a valuation of US$ 4,661.0Mn by 2032 end.
The dynamics and market trends are examined to forecast the growth of the liquid silicone rubber market. Due to the increasing use of liquid silicone rubber in industries like consumer goods, construction, automotive, and healthcare, among others, the market is anticipated to grow.
The market is also anticipated to rise due to the expanding use of liquid silicone rubber, which also has the added advantage of facilitating precision manufacturing.
One of the major market trends now in evidence is the expansion of production capacity, both locally and globally. This trend is anticipated to affect market growth throughout the forecast period. In addition, major players want to launch cutting-edge products to broaden their product line.
SURGING APPLICATIONS IN THE PERSONAL ELECTRONIC INDUSTRY FAVOR THE LIQUID SILICONE RUBBER MARKET GROWTH
Liquid silicone rubber is expanding at an astounding rate, helped by its expanding use in the consumer electronics sector. This is related to the need for daily use of ruggedized versions of personal gadgets.
The need for liquid silicone rubbers is also driven by the growing use of rubber in manufacturing smartphones, headsets, smart wristbands, and other gadgets due to its high durability, affordability, and soft characteristics.
Liquid silicone rubber is becoming increasingly popular among industry players for electronic products. For instance, a well-known electronics injection molding business named Jabil Green Point disclosed using liquid silicone rubber to make noise-canceling headphones. Numerous such occurrences are anticipated to fuel profitable industry growth.
THE RISING AGING POPULATION TO DRIVE THE GROWTH OF THE LIQUID SILICONE RUBBER MARKET
Shortly, the demand for liquid silicone rubber is anticipated to be significantly influenced by the expanding healthcare sector and the aging population. The booming expansion of the electronics industry is another factor that is expected to increase demand for liquid silicone rubber. Over the forecast period, it is also anticipated that the automotive sector will help fuel a rise in demand for liquid silicone rubber.
One of the main reasons projected to hinder the growth of the liquid silicone rubber market is the strict laws about the requirements of employing the material in medical devices. It is anticipated that there will be a rise in the demand for transparent liquid silicone rubber for optical applications, offering producers substantial income opportunities.
Market Segments Covered in Report
By Grade Type:
By Region and Country:
Who is the leading end user of liquid silicone rubber?
During the projected period, liquid silicone rubber sales are anticipated to increase across the automotive industry at a CAGR of 7.6%.
Will liquid injection molding systems remain the technology of choice?
The liquid silicone rubber market is divided into various molding techniques and liquid injection molding systems based on technology. The fluid injection molding system market is anticipated to maintain its dominance over the assessment period.
The main reason for boosting the segment’s sales is the rising need for liquid injection molded liquid silicone rubber components in the automotive, aviation, and other industries.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
To meet the soaring demand from various sectors, top players worldwide liquid silicone rubber market, are concentrating on increasing their production capacity. Some businesses want to introduce unique products to broaden their product lines and gain market share.
The recent developments in the Global Liquid Silicone Rubber Market:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Grade Type, Technology, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|