Liquid Silicone Rubber Market

Liquid Silicone Rubber Market Analysis and Forecast by Grade Type, Technology, End-Use, Region, and Country, 2023 to 2033

The Use of Electric Vehicles More Frequently Will Increase Demand for Liquid Silicone Rubber

Category: Chemicals & Materials Published Date : Sep-23 ID: CVC0129 Format: PDF Pages: 300

Liquid Silicone Rubber Market Outlook

As per rigorous research by ChemView Consulting, our analysts believe that the global liquid silicone rubber (LSR) market will grow at a 4.4% CAGR during the period 2023–2033 to reach a valuation of US $6403.5 million by 2033.

Key Findings on the Liquid Silicone Rubber Market

1. Which is the largest market for liquid silicone rubber?

The biggest market for liquid silicone rubber is North America. As per our analysis, North America holds nearly 29.5% share of the liquid silicone rubber market.

2. What is the largest end-use industry segment within the liquid silicone rubber market?

As per ChemView Consulting, the largest segment by end-use industry is electronics. As per our analysis, this segment accounts for nearly 27.9% of total revenues.

3. At what rate is the liquid silicone rubber market expected to grow?

The liquid silicone rubber market is expected to grow at a CAGR of 4.4% during the period 2023–2033.

4. What are the major trends influencing the liquid silicone rubber market?

  • Automotive Sector Adoption: Liquid silicone rubber has found applications in the automobile sector, particularly in components such as gaskets, connectors, seals, and electrical parts, owing to its durability, heat resistance, and ability to survive extreme climatic conditions.
  • Advancements in Additive Manufacturing (3D Printing): The use of LSR in 3D printing or additive manufacturing is increasing. This trend enables more complex and customised designs, which is especially beneficial in medical and industrial applications.

5. Who are the leading players in the liquid silicone rubber market?

The key companies in the liquid silicone rubber market are Elkem ASA, Sivance, LLc., Dow, Xinapse Systems Ltd., WACKER, Shin-Etsu Chemical Co., Ltd., Evonik Industries AG, Momentive Performance Materials, Inc., Bluestar Silicones International, and NuSil Technology LLC.

Key Drivers for Liquid Silicone Rubber Demand

  • The healthcare industry’s demand for safe, biocompatible, and long-lasting materials is a prominent driver of the LSR market. The excellent features of liquid silicone rubber, including its hypoallergenic nature and tolerance to extreme temperatures, make it a popular choice for medical device components such as surgical implants, catheters, and prosthetics. Thus, the demand for durable materials like LSR grows as medical technology develops.
  • Additionally, the constantly shifting consumer electronics landscape demands the use of materials that can withstand rigorous usage while still performing well. LSR’s unique combination of durability, flexibility, and resistance to moisture and dust makes it an excellent choice for encapsulating, sealing, and protecting delicate electronic components. The demand for LSR is expected to increase as devices become smaller and more complex.

Key Challenges Inhibiting Demand for Liquid Silicone Rubber

  • The safety of liquid silicone rubber products is critical, especially in applications that require human health and safety. Product recalls, allergic reactions, or adverse impacts can significantly harm a company’s brand and lose consumer trust. Manufacturers must constantly monitor and assess any health and safety concerns linked to their products, which can result in increased costs and resource allocation.

Key Challenges & Opportunities for Liquid Silicone Rubber Manufacturers

  • The production of LSR requires precise mixing, curing, and molding processes. Maintaining uniformity in mixing ratios, curing temperatures, and cycle times can be difficult and affect product quality.
  • However, collaboration with end-users to understand their individual needs and issues can lead to the development of novel LSR solutions that address these pain points, thereby fostering long-term partnerships.

Country/Region-wise Insights

US Liquid Silicone Rubber Market Forecast

  • Ongoing innovation in the automobile industry in the US market is projected to observe significant growth?in the estimated period. The US liquid silicone rubber market is likely to account for a leading share of the global liquid silicone rubber market.?
  • Moreover, the increased emphasis on improved medical devices as well as the expanding requirement for new electrical components are projected to drive LSR demand.

Europe Liquid Silicone Rubber Market Outlook

  • Rising demand for innovative medical devices, combined with strict safety rules in the Europe market is anticipated to drive sales in the market over the assessment period.
  • Additionally, the growing preference for LSR in automobile manufacturing owing to its weather resistance, thermal stability, and design flexibility is expected to contribute to the market’s growth.

Japan Liquid Silicone Rubber Market Forecast

  • Growing awareness of the benefits of LSR in medical devices, such as biocompatibility and durability, in the Japan market is anticipated to drive the market over the forecasted period.
  • In addition, as Japan continues to emphasize innovation and product quality, demand for LSR, noted for its precision and dependability, is projected to rise.

China & India Liquid Silicone Rubber Market Forecast

  • The rapidly growing manufacturing sectors and the expanding consumer base, in the China & India markets are anticipated to fuel the market over the forecast period.
  • In addition, with a growing aging population and an increased focus on healthcare infrastructure, LSR’s application for medical devices, implants, and equipment is predicted to rise.

Liquid Silicone Rubber Market Outlook & Forecast by Segmentation

By Grade Type

Based on grade type, the industrial grade segment is expected to remain at the forefront of liquid silicone rubber market share over the assessment period. The growth is mainly due to the unique characteristics and broad use of industrial-grade liquid silicone rubber (LSR) in a variety of sectors. Industrial-grade LSR is noted for its high heat resistance, chemical stability, durability, and flexibility. These properties make it useful for a wide range of applications, including automotive, healthcare, electronics, and manufacturing.

Furthermore, the adaptability of industrial-grade LSR enables manufacturers to create complicated and detailed patterns using injection molding procedures. This allows for the development of complex and precise components that suit the severe criteria in various sectors.

By Technology

Based on technology, the liquid injection molding system segment is expected to remain at the forefront of liquid silicone rubber market share over the assessment period. The growth is mainly because liquid injection molding (LIM) offers exact and consistent results, making it a preferred choice for producing complicated and sophisticated silicone rubber products. The procedure involves injecting liquid silicone rubber into a mold cavity under high pressure and at a regulated temperature. This precision ensures consistency in product quality, which is critical in industries such as medical devices and electronics.

Furthermore, liquid injection molding is a closed-loop technique that eliminates contamination and maintains a clean manufacturing environment. This is especially crucial in industries such as healthcare, where high sanitation standards must be achieved.

By End-use Industry

Based on end-use industry, the electronics segment is set to account for 27.9% of the liquid silicone rubber market share over the assessment period. The growth is mainly because electronics components often generate heat during operation. LSR is well-known for its high heat resistance, making it appropriate for use in a variety of electrical devices that operate at high temperatures.

Moreover, LSR’s ability to form precise and long-lasting seals makes it perfect for sealing and encapsulating electrical components. It protects electronics from moisture, dust, and other pollutants, boosting their reliability and lifetime.

Furthermore, LSR may be molded into precise forms and sizes, enabling the production of customised components that properly meet the design requirements of various electrical devices.

Which Company Owns the Largest Share in the Liquid Silicone Rubber Market?

The key companies in the liquid silicone rubber market are Elkem ASA, Sivance, LLc., Dow, Xinapse Systems Ltd., WACKER, Shin-Etsu Chemical Co., Ltd., Evonik Industries AG, Momentive Performance Materials, Inc., Bluestar Silicones International, and NuSil Technology LLC.

Recent Developments:

  • In December 2022, Dow, a materials science pioneer committed to providing clients with creative and sustainable solutions in infrastructure, packaging, and consumer care, announced the release of its SILASTICTM SA 994X LSR series as the organisation carries out further technological innovation for the mobility and transportation sectors in search of smarter, safer, and more sustainable technologies.
  • In November 2022, Elkem ASA, one of the world’s top manufacturers of environmentally friendly silicones, silicon, and carbon-based products, announced the official launch of its brand-new innovative production facility in York, South Carolina, United States. The company will enhance the capacity of its medical-grade LSR, which will be sold under the Silbione Biomedical brand, by opening this new plant.
  • In July 2022, WACKER, a chemical industry technology leader that manufactures products for all major worldwide industries, announced a new silicone production facility in Panagarh, India. The plant, 160 kilometers northwest of Kolkata, will produce silicone rubber and ready-to-use silicone compounds for medical technologies, electromobility, and electrical transmission and distribution.

As per our analysis, the companies that hold the largest share in the market are

Click Here to Request Company-wise Data

Shin-Etsu Chemical Co., Ltd.

Founded in 1926 and with headquarters in Chiyoda City, Tokyo, Japan, it is the world’s largest chemical company.

Momentive Performance Materials, Inc.

Founded in 1857 and with headquarters in Niskayuna, New York, United States, it is a chemical firm. Its products are silicone and quartz.

Evonik Industries AG

Founded in 2007 and with headquarters in Essen, Germany, it is the world’s second-largest chemical corporation.

Bluestar Silicones International 

Founded in 2007 and located in Lyon, Rhone-Alpes, France, it is the world’s leading manufacturer of completely integrated silicones.

NuSil Technology, LLC

Established in 1979 and located in the United States, it is a leading manufacturer of silicone compounds for use in aerospace, electronics, healthcare, and other industries.

What Makes this Report More Insightful than Others?

With ChemView Consulting, we’re redefining market research for the next generation. Go beyond traditional analysis and immerse yourself in a holistic exploration of business opportunities. We offer:

Actionable Business Opportunity Assessments: Navigate the business landscape with precise, actionable insights tailored for future growth.

Strategic Competitive Intelligence: Stay ahead with in-depth analysis, ensuring you always have the competitive edge.

Customer Insights Like Never Before: Understand your customer’s evolving needs, aspirations, and behaviors to drive brand loyalty and value.

Dynamic Price Tracking: Stay agile in a fluctuating market with real-time pricing intelligence.

Profitability Analysis with Precision: Dive deep into data-driven strategies that ensure optimal returns on investment.

M&A and Alliances Mastery: Navigate the complex world of mergers, acquisitions, and alliances with expert foresight.

Startup Ecosystem Tracking: Discover the next big disruptors before they make headlines.

Up-to-the-minute Regulations & Compliance Updates: Stay ahead of the regulatory curve, ensuring business continuity and compliance.

Pioneering Technological Insights: Explore the forefront of innovation, capturing trends before they shape the market.

The future is data-rich and insights-driven, and with ChemView Consulting, you are poised at the forefront. Every report is crafted to inspire, every insight designed to catalyze growth. Partner with us, and let’s co-create the future of your business.

Follow Us On Our Social Media Pages 

Facebook and Linkedin