WASHINGTON, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research analyses that the Liquid Silicone Rubber Market which was USD 2.5 Billion in 2021, would rocket up to USD 4.0 Billion by 2028, and is expected to undergo a CAGR of 10.0% during the forecast period 2022 to 2028.
In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Vantage team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Recent study report released by Vantage titled Liquid Silicone Rubber Market (covering USA, Europe, China, Japan, India, South East Asia and etc) highlights opportunities, risk analysis, and leveraged with strategic and tactical decision-making support. When every business is competing to be the best, a market research analysis report is one of the key factors that will help them climb the ladder of success. The Liquid Silicone Rubber market report gives details about market trends, future prospects, market restraints, leading market drivers, several market segments, key developments, key players in the market, and competitor strategies. Market research analysis is one of the best ways that answers business challenges more quickly and also saves a lot of time. The research work, market insights and analysis are carried out thoroughly in this report that brings the marketplace clearly into the centre of attention.
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What is Liquid Silicone Rubber? How Big is Liquid Silicone Rubber Market Size?
Market Dynamics:
Driver: Rising Demand from Medical and Healthcare Devices
Medical equipment is one of the key applications of the market for liquid silicone rubber. Due to its chemical, purity, flexibility, physical resistance, and sterilization characteristics, the liquid silicone rubber demand is rising in the medical devices sector. Recently, liquid silicone rubber has its uses in medical textile coatings, medical cables, catheters, medical tubing, respiratory masks, other markets. Chinese government has expanded its focus on high-end medical device and biomedical manufacturing under “Made in China 2025” plan, which intends to grow domestic content of core materials and components to 70% by 2025. This is likely to grow the demand for the market for liquid silicone rubber.
Driver: Unique Characteristics Such as Chemical Inertness, Electrical Resistance, and Others
Liquid silicone rubber holds unique characteristics such as chemical inertness, electrical resistance, ability to bear intense temperatures, others. These features have allowed their broad adoption across electrical & electronics, medical, automotive, and various other sectors. The growing aged population is driving the medical devices and implants demand in the medical sector.
Liquid Silicone Rubber growth is hampered due to the existence of strict regulations in the medical area. There has been a growth in the regulations which are covering the materials usage in implants, medical devices, and kitchenware. The players are needed to comply with strict regulations to keep their market position.
List of Prominent Players in the Liquid Silicone Rubber Market:
- 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
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Key Findings:
- Under the grading segment, the medical-grade liquid silicone rubber sub-segment is anticipated to dominate the segment for the liquid silicone rubber market and grow at a substantial CAGR. The market growth is attributed to the increasing geriatric population across the globe, as well as increasing awareness about health concerns.
- Medical sub-segment held a market significant share in 2021 of the application segment for the liquid silicone rubber market. The market growth is attributed to factors such as demand for LSR based products in the healthcare industry.
- North America is the largest regional segment. The U.S. is the largest consumer of liquid silicone rubber in the region. The presence of major players in the region is anticipated to propel market growth in the region over the forecast period.
Regional Trends
North America accounted for the largest share of the regional market for liquid silicone rubber, due to the existence of the biggest consuming nations such as India and China, the liquid silicone rubber demand in the region is rising at a substantial rate.
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Segments Analysis:
By Type: Food Grade LSR, Industrial Grade LSR, Medical Grade LSR
By End-User: Healthcare and Medical Devices, Automotive, Electrical and Electronics, Consumer Goods, Beauty and Personal Care, Other End-user Industries
By Region: North America, Latin America, Asia Pacific, Europe, Middle East & Africa
The report on Liquid Silicone Rubber Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse market data Tables and Figures spread through 170 Pages and in-depth TOC on Liquid Silicone Rubber Market Forecast Report (2022-2028).
Some of The Key Questions from Our Customers Are:
- Which are the top companies in the market?
- How will the market change in the next years?
- What are the drivers and restraints of the market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the market throughout the forecast period?
- Which area offers the most significant benefit for the world market?
- What are the threats to business and the impact of the current scenario on growth and market perception?
- What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 2.5 Billion |
| Revenue Forecast by 2028 | USD 4.0 Billion |
| CAGR | 10.0% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | 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 |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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