The global liquid
silicone rubber market is expected to reach USD 3.29 billion by
2025, according to a new report by Grand View Research, Inc. Increasing
applications in end-use segment, particularly in medical and electronics
industry has propelled the demand for the overall market. In addition, rising
geriatric population and new material developments continue to fuel the demand
of overall market.
Unique properties of liquid silicone rubber such as
chemical inertness, heat resistance, flexibility, low viscosity has made it an
ideal material to be incorporated into medical implants and devices. Moreover,
the market is undergoing through extensive research and development process to
innovate the material technology, which creates huge growth opportunities in
upcoming years for the market.
Industrial grade was the largest segment in grade
category in 2015 and held 53.5% of the overall market revenue. Automotive
sector includes major applications of liquid silicone rubber in manufacturing
of LED headlights, wiper blades and several other electronic components.
Medical application was the fastest growing segment
over the forecast period with an estimated CAGR of around 9% from 2016 to 2025.
The material is biocompatible thus has major applications in medical implants
& devices, equipment parts such as sterilized parts, valves, skin contact
devices, infusion pumps and others.
Browse full research report on Liquid Silicone Rubber Market: https://www.grandviewresearch.com/industry-analysis/liquid-silicone-rubber-lsr-market
Further
key findings from the report suggest:
- The global liquid silicone rubber market revenue reached USD 1.5
billion in 2015 and is expected to grow at a CAGR of 7.9% from 2016 to
2025
- Industrial grade emerged as the largest grade segment in 2015 and
is estimated to generate revenue over USD 1.7 billion by 2025
- Global liquid silicone rubber revenue in medical application was USD
285.6 million in 2015 and is anticipated to witness staggered growth over
the next nine years
- The U.S. liquid silicone rubber market in medical application is
expected to reach a total revenue of over USD 234.4 million by 2025
- The industry in Asia Pacific is projected to witness rapid growth
over the next decade owing to various developments across major economies,
especially in the automotive and electronics industry. The regional market
is expected to grow at a CAGR of 8.6% from 2016 to 2025
- Key participants in the market include Dow Corning, Momentive
Performance Materials Inc., KCC Corporation, Simtec Silicone Parts, LLC,
Bluestar, Stockwell Elastomerics Inc., Zhejiang Xinan Chemical Industrial
Group Co., Ltd., Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG, Nusil
Technology LLC, Laur Silicone and others. In the recent years, new product
developments and acquisitions have been the major growth strategy acquired
by key industry players for enhancing their market positions.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/advanced-materials
Grand
View Research has segmented the global liquid silicone rubber market on the
basis of grade, application and region:
Grade
Outlook (Revenue, USD Million; 2013 - 2025)
- Food
- Medical
- Industrial
Application
Outlook (Revenue, USD Million; 2013 - 2025)
- Medical
- Automotive
- Consumer
Goods
- Electricals
& electronics
- Others
Regional
Outlook (Revenue, USD Million; 2013 - 2025)
- North America
- U.S.
- Others
- Europe
- Germany
- France
- U.K.
- Others
- Asia Pacific
- China
- India
- Japan
- Others
- Central &
South America
- Brazil
- Others
- Middle East
& Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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