Liquid Silicone Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Liquid Silicone Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global liquid silicone rubber market size reached US$ 2.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.43% during 2022-2028.

Liquid silicone rubber (LSR) is a dense, durable, and high resistant elastomer made using an injection molding method that provides ease of processing, part consistency, and better productivity. It offers excellent weatherability, chemical stability, heat and abrasion resistance, and electrical insulation properties as compared to organic rubber. Moreover, it has a high tear and tensile strength and good elongation, flexibility, hardness, and transparency. It can also withstand extreme temperature and harsh environmental conditions like wind, rain, and ultraviolet (UV) rays. As a result, it is widely utilized in the production of industrial tools that require high strength, resistance, and quality.

Liquid Silicone Rubber Market Trends:
LSR can be sterilized using steam autoclaving, ethylene oxide (ETO), gamma, and e-beam techniques, which makes it suitable to produce medical equipment, such as organ parts or prostheses, that meet stringent safety requirements. This, in confluence with a significant increase in the number of organ failure cases on account of the rising geriatric population and the growing prevalence of chronic diseases, represents one of the key factors creating a positive outlook for the market. This can also be attributed to the considerable need for minimizing the risk of contamination and enhancing the safety of medical devices. Additionally, it is extensively employed in the automotive industry to manufacture small and complex elastomeric parts at high speed and optimum productivity. This, coupled with the boosting sales of vehicles worldwide, is contributing to the market growth. Furthermore, LSR is gaining traction in industries, such as aerospace, construction, electronics, and food and beverage (F&B), as adhesives, sealants, potting, coatings, lubricants, and encapsulating compounds. Apart from this, the emerging trend of industrial automation, coupled with the rising demand for precision manufacturing, is projected to fuel the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global liquid silicone rubber market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on grade, curing system and end use industry.

Breakup by Grade:

Food Grade
Industrial Grade
Medical Grade

Breakup by Curing System:

Injection Molding
Peroxide Cure System
Platinum-Based Cure System
Condensation Cure System

Breakup by End Use Industry:

Automotive
Healthcare
Electrical and Electronics
Cosmetic and Personal Care
Consumer Goods
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Avantor Inc., Elkem ASA (China National Chemical Corporation), Jiangsu Tianchen New Materials Co. Ltd, Momentive Performance Materials Inc., Reiss Manufacturing Inc., Shin-Etsu Chemical Co. Ltd., Simtec Silicone Parts LLC (The Rico Group), Stockwell Elastomerics Inc., The Dow Chemical Company and Wacker Chemie AG.

Key Questions Answered in This Report

1. What was the size of the global liquid silicone rubber market in 2022?
2. What is the expected growth rate of the global liquid silicone rubber market during 2023-2028?
3. What are the key factors driving the global liquid silicone rubber market?
4. What has been the impact of COVID-19 on the global liquid silicone rubber market?
5. What is the breakup of the global liquid silicone rubber market based on the grade?
6. What is the breakup of the global liquid silicone rubber market based on the curing system?
7. What is the breakup of the global liquid silicone rubber market based on the end use industry?
8. What are the key regions in the global liquid silicone rubber market?
9. Who are the key players/companies in the global liquid silicone rubber market?