Liquid Silicone Rubber Market Growth, Size, Share, Trends and Forecast 2023-2028

According to the latest report by IMARC Group, titled “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 8.5% during 2023-2028.

Liquid silicone rubber (LSR) is a high-purity and two-component platinum-cured silicone produced through the liquid injection molding (LIM) method. It comprises medical grade, self-lubricating, conductive, self-bonding, radio-opaque, and flame retardants. It offers high durability, biocompatibility, corrosion-resistance, and strength while showing compatibility with a wide range of temperatures. It also provides enhanced electrical properties that assist in insulation and precise conductivity protection. It is utilized as a sealant in valves and pipe connections as gaskets, O-rings, and valve seals. Besides this, it is widely employed in the automotive, electronics, food and beverage (F&B), and medical industries across the globe.

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Liquid Silicone Rubber Market Trends:

At present, the rising utilization of LSR in electronic products, such as smartphones, headsets, and smart watches, represents one of the primary factors strengthening the market growth. The growing demand for LSR in the medical industry to perform body implantation surgical procedures, such as breast implants, is also offering a positive market outlook. Apart from this, the rising demand for LSR in the automotive industry to manufacture electric vehicle (EV) battery packs, sensors, and sealing covers is propelling the market growth. Moreover, the increasing adoption of LSR to manufacture light-emitting diode (LED) lamps and lights is bolstering the growth of the market. Furthermore, the rising utilization of food-grade LSR to produce kitchenware and bakeware, as it is odorless, hydrophobic, and resistant to bacteria, is contributing to the market growth.

Liquid Silicone Rubber Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• 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
• Wacker Chemie AG.

The report has segmented the market on the basis on region, grade, curing system, end user 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 User Industry:

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

Breakup by Region:

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

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Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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