Global Liquid Silicone Rubber (LSR) Market 2024

Global Liquid Silicone Rubber (LSR) Market 2024

Liquid Silicone Rubber (LSR) is a specialized elastomer consisting of a two-part platinum-cured compound that can be injected into various mold cavities to produce a wide range of components used across industries, from consumer products to medical devices. The global liquid silicone rubber market is projected to rise by 130.2 thousand tons by 2030, according to the latest market study results. It is anticipated to expand at a CAGR of 6.6 percent during the forecast period.

The market for Liquid Silicone Rubber is primarily driven by the increasing demand from the healthcare sector. LSR is highly versatile, offering unique properties that make it suitable for diverse applications. It is composed of long polysiloxane chains reinforced with specially treated silica, providing advantages such as biocompatibility and durability. In the medical field, LSR is extensively used for critical applications like silicone tubes in pharmaceutical settings, facilitating fluid transfer, peristaltic pumping, and filling operations.

Furthermore, the baby care industry contributes significantly to the consumption of Liquid Silicone Rubber. However, the market faces constraints due to the high cost associated with LSR products. This is primarily due to the intricate manufacturing process and elevated raw material expenses involved in producing items made from this material. Silicone is recognized as one of the most expensive rubber types, primarily due to its low production volumes and the need for sophisticated manufacturing facilities.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the product type, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global liquid silicone rubber market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for liquid silicone rubber can be segmented by product type: food grade LSR, industrial grade LSR, medical grade LSR. The industrial grade LSR segment was the largest contributor to the global liquid silicone rubber market in 2023, accounting for more than 46.8% of the total market.

Liquid silicone rubber market is further segmented by end user: automotive, consumer goods, electrical and electronics, medical, personal care, others. According to the research, the consumer goods segment had the largest share in the global liquid silicone rubber market, accounting for more than 30.8% of the total market.

Based on region, the liquid silicone rubber market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. Asia-Pacific was the largest revenue contributor to the global liquid silicone rubber market, representing 53.7% of the market in 2023. During the forecast period, Asia-Pacific is projected to witness the highest growth rate.

The report explores the recent developments and profiles of key vendors in the Global Liquid Silicone Rubber Market, including Avantor, Inc., Dongguan New-Orient Technology Co., Ltd. (Jiangsu Hongda New Material Co., Ltd.), Dongyue Group Ltd., Dow, Inc., DuPont de Nemours, Inc., Elkem ASA, Foshan Tian Bao Li Silicon Engineering Technology Co., Ltd., Jiangsu Tianchen New Material Co., Ltd., KCC Silicone Corporation, Momentive Performance Materials Inc., Rico Group GmbH, Shenzhen Square Silicone Co., Ltd., Shin-Etsu Chemical Co., Ltd., Trelleborg AB, Wacker Chemie AG, Zhejiang Xinan Chemical Industrial Group Co., Ltd. (Wynca Tinyo Silicone Co., Ltd.), among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Why Choose This Report

Gain a reliable outlook of the global liquid silicone rubber market forecasts from 2024 to 2030 across scenarios.

Identify growth segments for investment.

Stay ahead of competitors through company profiles and market data.

The market estimate for ease of analysis across scenarios in Excel format.

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Market Segments Covered in Global Liquid Silicone Rubber Industry Analysis:

i.) Product type

• Food grade LSR
• Industrial grade LSR
• Medical grade LSR

ii.) End user

• Automotive
• Consumer goods
• Electrical and electronics
• Medical
• Personal care
• Others

iii.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America