Liquid Silicone Rubber Market Size Is Forecast To Reach US$3.7 Billion By 2026 - Industryarc

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Liquid Silicone Rubber Market size is forecast to reach US$3.7 billion by 2026, after growing at a CAGR of 8.1% during 2021-2026.

HYDERABAD, TELANGANA, INDIA, January 11, 2023 /einpresswire.com / -- liquid silicone rubber market size is forecast to reach US$3.7 billion by 2026, after growing at a CAGR of 8.1% during 2021-2026. Liquid Silicone Rubber is a thermoset elastomer that has both, organic and inorganic characteristics. Injection Molding process is used to produce durable and pliable parts of Liquid Silicone Rubber in high volumes. Liquid Silicone Rubber being a thermosetting polymer has excellent properties- stability under extreme temperatures, flame retardancy, radiation resistance, chemical resistance, high insulation resistance, durability, high dielectric strength and good mechanical properties. These unique characteristics make Liquid Silicone Rubber highly valuable and versatile. Therefore, it has a broad spectrum of applications in various industries. Some of the prominent trends that the market is seeing are raising demand for greater safety and security. The Medical industry is witnessing a huge demand for disposable medical and healthcare devices. Liquid Silicone Rubber is extensively being utilized in this industry owing to its biocompatibility and non-toxic properties which thereby fuels the growth of the market. Furthermore, the food packaging industry is also expected to drive the Liquid Silicone Rubber market. Another major contributing factor to the market growth is the progress in 3D printing.

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Key takeaways:

This IndustryARC report on the Liquid Silicone Rubber market highlights the following areas -

1. Asia-Pacific dominates the Liquid Silicone Rubber market, owing to the electrical & electronics manufacturing industry in the region using Liquid Silicone Rubber. According to Invest India, the domestic electronics market in India to attain US$400 billion by 2025.

2. The adoption of liquid silicone rubber as a cost-effective alternative to traditional rubbers is seen as a breakthrough for market growth.

3. Increasing investment of medical technology companies is expected to boost the growth of medical industry. One of the biggest end-users of the Liquid Silicone Rubber Market are medical devices. Thus, in this industry there is a high demand for Liquid Silicone Rubber.

4. The major opportunity for this market is high research spending and innovative technologies. With the rising dominance of 3D printing, Artificial Intelligence, Virtual Reality and Internet of Things the demand for the use of Liquid Silicone Rubber in advance consumer products is skyrocketing.

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Segmental Analysis:

1. Liquid Silicone Rubber Market Segment Analysis – By Grade : Medical grade Liquid Silicone Rubber accounted for the largest share in the Liquid Silicone Rubber Market in 2020 and is growing at a CAGR of 9.2% during 2021-2026. Medical, healthcare and life science companies have stringent requirements – parts must adhere to increasingly tight tolerances and meet hygiene and safety regulations. Liquid Silicone Rubber being chemically inert, resistant over a wide range of substances, and bio-compatible, makes it an ideal choice for an extensive range of medical and healthcare devices.

2. Liquid Silicone Rubber Market Segment Analysis – By Processing techniques : Liquid Silicone Rubber is processed exclusively by injection molding and then heat-cured. The Liquid Injection Molding process has gained a reputation as the preferred process among many manufacturers of rubber parts, because of its superior end-product quality and durability.

3. Liquid Silicone Rubber Market Segment Analysis – By Curing systems : Raw Silicone Rubber has to be cured to be transformed into a thermoset elastomer. Platinum-catalyzed addition curing does not produce any odorous by-products. This makes it ideal for food contact applications. Some Platinum cured liquid silicone rubbers are certified skin safe. Hence used as implants and prosthetic devices. Due to its non-toxicity and bacterial resistance Liquid Silicone Rubber is widely used in baking molds, packaging equipment, knife holders, spatulas, ice trays, oven doors etc.

Competitive landscape:

The top 5 players in the Liquid Silicone Rubber industry are:

1. The Dow Chemical Company,
2. Wacker Chemie,
3. Shin-Etsu Chemical,
4. Nusil Technology LLC,
5. KCC Corporation.

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Related Reports:

A. Medical Grade Silicone Market

B. Silicone Elastomers Market

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