Liquid Silicone Rubber Market Report

Liquid Silicone Rubber Market Analysis, By Grade (Food, Medical, Industrial), By Application (Medical, Automotive, Consumer Goods, Electronics & electrical, Others), By Region, And Segment Forecasts, 2013 - 2025

Published: April 2017  |  145 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-436-9

Industry Insights

The global liquid silicone rubber market size was estimated at USD 1.55 billion in 2015 and is expected to witness significant growth over the forecast period. Increasing demands from medical and automotive industries have emerged to be the key drivers of the overall market during the forecast period.

Liquid silicone rubber (LSR) holds unique properties such as electrical resistance, chemical inertness, ability to withstand extreme temperatures and others. These properties have enabled its wide adoption across medical, electrical & electronics, automotive and several other industries. Rising geriatric population is fueling the demand of medical implants and devices in the medical industry.

U.S. liquid silicone rubber market revenue, by grade, 2013 - 2025 (USD Million)

U.S. liquid silicone rubber market

The material technology is undergoing rapid change. Its application is expanding in traditional rubber as well as areas where traditional rubber had not been used. Few modern applications include kitchenware, bakeware, LED headlights, wiper blades, fitness trackers, medical device and implants. The material is also used in manufacturing drug eluding devices

Additional advantages of it include flash less and waste less product quality, high consistency in product dimensions, high volume production owing to short cycle time and lowest total cost of quality. Thus, it has replaced materials such as glass, plastic and latex in various medical and industrial applications.

Stringent regulations in case of materials to be incorporated in kitchenware and medical devices is further augmenting the demand of overall market. Moreover, urbanization, rising standard of living and demographics are fueling the demand of electronics and consumer goods, which is supplementing the demand of Market.

In order to achieve competitive advantage, the key players are partnering with suppliers to obtain the latest material technology. Silicone Materials with antimicrobial, self-adhesive, optical grade, and self-lubricated properties are among few material innovations.

Grade Insights

Medical grade is the fastest growing grade among all other grades of liquid silicone rubber. Transparency, bacterial resistance, high elongation, gas permeability, high dielectric strength and various other unique properties enable its extensive usage in manufacturing of tracheal tube, saccules, oxygen mask instruments, syringe stoppers, dialysis filters, medical hose and other medical parts.

It is the most expensive grade as it requires fulfilment of various regulations in order to be utilized in medical device manufacturing. It is also replacing latex at a pacing rate which was used in implantable devices since long back as it caused adverse reactions in the patient’s body.

Industrial grade is the largest revenue generating segment and is utilized in industries such as electronics, construction, cosmetics, aerospace and other industrial components. Resistance to extreme temperatures, insulation and dependence on material additives enables it to become a suitable material for parts such as grommets, keypads, antennas, electronic displays, and others.

Application Insights

The demand for LSR is witnessing rapid growth in medical sector led by growing demand for medical implants and disposable devices. Compatibility along with long term implantable devices, bacteria resistance, technological innovation, and advent as a drug eluting product will continue to foster the demand of LSR in medical applications.

Major applications areas include general surgery, cardiology, plastic surgery, bariatric surgery, ophthalmology, orthopedics and others. Market players operating in plastic injection molding have also tapped opportunities of LSR in order to cater the rising needs of medical sector.

Automotive applications are also expected to witnessing healthy growth owing to wide usage of LSR in manufacturing windshield wiper blades, membranes, valves, LED headlights, gaskets and several other parts. Its ability to withstand extreme high and low temperatures, durability and cost effectiveness is attracting the attention of auto manufacturing companies particularly in the production of gaskets.

Its added advantages include minimum waste generation, energy saving, short cycle time, economies of scale and automated process, which would further boost the applications in automotive sector in upcoming years.

Moreover, trends prevailing in automotive industry are shifting towards fully automated cars which are equipped with latest electronic features, thus creating future avenues for the Market in upcoming years.

Regional Insights

North America is the largest revenue generating region in 2015 and accounts for a share of 37.38% in the overall market. It is the largest consumer of medical devices owing to presence of rapidly ageing population. As per US Department of Health & Human Science, in 2014 around 14.5% of the total US population was aged above 65 years and by 2060 it would increase by more than twice the present population. Thus, LSR would witness healthy growth in the upcoming years in North America.

Asia Pacific is a prominent market and is anticipated to witness the fastest CAGR of 8.6% during the analysis period. The region is witnessing increasing demand for liquid silicone rubber for medical applications in prosthetics, medical tapes, DDS, surgical implants, APIs, prefilled syringes and others. Several favorable factors such as rising demand in end user application coupled with rapid economic growth and government policies are attracting foreign investments in the region.

China and India are proving to be essential growth vehicle for growth in Asia-Pacific market. Installation of new facilities, technological advancements and growing applications in construction industry are further posing lucrative opportunities in the upcoming years.

China is the largest producer and exporter of LSR. The players operating in the country are consistently engaged in research and development activities to develop latest material technology. Rapidly advancing electrical and electronics industry in the region is also fueling the demand.

Competitive Insights

The key industry players 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 February 2016, Dana Holding Corporation acquired Magnum Gaskets, US manufacturer of gaskets for automotive sector.

The acquisition has helped the company to broaden its customer base in US, particularly in automotive sector. The players in this market are focusing on partnerships and collaborations with regional players to enhance their market presence and increase profitability. Moreover, they are also entering into partnerships silicone suppliers to achieve latest material technology.

Report scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2013 - 2016

Forecast period

2017 - 2025

Market representation                                             

Revenue in USD Million and CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Germany, France, UK, China, India, Japan, Brazil

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

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


Segments Covered in the Report

This report forecasts revenue growth at global, regional & country level and provides an analysis on the industry trends in each of the sub-segments from 2013 to 2025. For the purpose of this study, Grand View Research has segmented the 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.

    • Europe

      • Germany

      • France

      • UK

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa
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