Liquid Silicone Rubber Market

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.

Market Dynamic

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:

• Food Grade
• Industrial Grade
• Medical Grade
• Other Grades

By Technology:

• Liquid Injection Molding System
• Other Molding Processes

By End-Use:

• Consumer Goods
• Electrical and Electronics
• Construction
• Automotive
• Healthcare
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• Due to faster growth in automobile manufacturing, which accounts for 43.9% of the worldwide market, the Asia Pacific region has the fastest-growing automotive applications. Due to their economies’ rapid growth, China and India, in particular, are driving this region’s growth. Additionally, it is projected that favorable legislation, newer applications, and innovative products will drive market expansion in the next years.
• The most lucrative liquid silicone rubber market in North America is expected to continue in the United States. A significant increase in the number of surgical procedures for body implantation has been seen as a result of the nation’s increasing emphasis on improving body aesthetics.

Competition Analysis

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:

• In March 2021, the world’s first low-density liquid silicone rubber was announced by Dow, a multinational chemical business based in the United States, for use in injection modeling formulations and brand owners. The product introduction will help the company penetrate the food, beverage, and consumer electronics sectors more deeply.

A list of some of the key suppliers present in the market are:

• Dow Corning Corporation
• Momentive Performance Materials, Inc.
• Evonik Industries AG
• Bluestar Silicones International
• SiVance, LLC
• NuSil Technology LLC
• Simtec Silicone Parts, LLC
• Wacker Chemie AG
• Stockwell Elastomerics Inc.
• Xinapse Systems Ltd.

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.