Liquid Silicone Rubber Market By Grade (Food , Medical, Industrial), By End-use (Automotive, Healthcare, Consumer Goods, Electrical & Electronics, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 - 2027

"Growing applications of liquid silicone rubber driving the market growth."

The growing demand for silicone rubber from the healthcare industry is driving the global liquid silicone rubber market. Liquid silicone rubber (LSR) has great properties over its competitor materials, such as high thermal stability, chemical stability, and electrical resistance. These properties made it the first choice in many industries such as automotive and, electrical & electronics. Furthermore, in the medical field, the hygienic quality of LSR helps to reduce the spread of bacteria or fungi to the patient body, and its flexibility and softness ensure comfort to the patient. Therefore, medical product designers are increasingly opting for LSR for the manufacturing of medical silicone parts on wider applications such as surgery, cardiology, oncology, orthopedics, neurosurgery, etc., among others. 

Additionally, the growth of the food industry has positively impacted the demand for LSR. The molded parts of LSR are odorless, tasteless, hydrophobic, and resistant to bacteria, making it suitable for use in the food industry. In addition, food-grade LSR is versatile and resistant to extreme temperature, making it an excellent choice in manufacturing kitchen products such as baking molds, ice-cube trays, O-rings, gaskets, or other seals. 

Overall, the global liquid silicone rubber market was US$ 1.9 Bn in 2018 and is expected to reach US$ 3.2 Bn by 2027, growing at a CAGR of 6.2% from 2019 to 2027. 

Grade Segment Analysis

"Industrial grade LSR accounted for the largest share."

Industrial grade LSR is widely used in automotive, electrical & electronics, and other consumer goods products. Due to the wider user base of LSR, this segment captured the largest market share in 2018. In addition, the lightweight and durability of LSR have resulted in its increased use in the automotive industry. Spark plug cable, gasket, and O-ring are some automotive products manufactured using LSR.

Apart from this, medical-grade LSR is anticipated to grow at the fastest rate from 2019 to 2027 owing to the increasing geriatric population across the globe, which results in the growing demand of LSR for manufacturing catheter tubes, reservoirs, among other products. 

Regional Analysis

"The Asia Pacific dominating the world market"

The Asia Pacific captured the largest share of the global liquid silicone rubber market in 2018. The regional market is driven by strong manufacturing growth of China and India. Also, the availability of low-cost labor, product innovation, and favorable government support for manufacturing influencing the market growth. Moreover, the growing Asian automotive, electrical & electronics, and healthcare industry has a high demand for LSR, influencing the market growth. Further, some prominent LSR manufacturers are concentrated in the regions, including KCC Corporation, Guangdong Polysil Technology Co. Ltd, and Shin-Etsu Chemical Co. Therefore, it is estimated that the region will show the fastest growth from 2019 to 2027. 

"Technological advancement is keeping the market competitive."

The global liquid silicone rubber market is highly competitive. Some of the market's major players are Dow, KCC Corp., and Wacker Chemie AG. These market players are adopting strategies such as merger & acquisitions of other players, partnerships with other companies having advanced technology, increasing production capacity, and launching new products to stay competitive in the global market. Following is the list of players included in the published reports.

List of Companies Covered:

  • Dow
  • KCC Corporation
  • Simtec Silicone Parts, LLC
  • Nusil Technology LLC
  • Shin-Etsu Chemical Co., Ltd.
  • Factor II, Inc.
  • Wacker Chemie AG
  • Momentive
  • Laur Silicone, Inc.
  • Guangdong Polysil Technology Co. Ltd.
  • and Others 

Key Industry Development:

  • In September 2018, KCC Corporation signed an agreement to merge with Momentive Performance Materials Inc., the U.S.-based global silicone manufacturer. With this acquisition, the company has increased its product portfolio, client base, and geographical presence to more regions of the world. This will help KCC Corp. to improve its global presence further. 
  • In September 2018, Shin-Etsu Chemical Co., Ltd. announced that it will invest over ¥110 billion in expanding its production capacity in Japan and on a global level and introduce products from silicone monomers and end-products. With this investment, the company is targeting to improve its share in the growing Asia Pacific market.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027 Segmentation.

 Grade Segment (2017-2027; US$ Bn)

  • Food
  • Medical
  • Industrial

 End-use Segment (2017-2027; US$ Bn)

  • Automotive
  • Healthcare
  • Consumer Goods
  • Electrical & Electronics
  • Others

 Geography Segment (2017–2027; US$ Bn)

  • North America (U.S. and Rest of North America)
  • Europe (U.K., Germany, France, and Rest of Europe)
  • Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the global liquid silicone rubber market better. The global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths. 

Unique data points of this report

  • Recent trends across different regions in terms of the development of the liquid silicone rubber market
  • Attractive investment proposition for application segment as well as geography
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Published Date:  Feb 2020
Category:  Advanced Materials
Report ID:   60208
Report Format:   PDF
Pages:   120
Rating:    4.2 (69)
Delivery Time: 24 Hours to 48 Hours   
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