Liquid Silicone Rubber Market Opportunities, Revenue and Potential Applications Forecasts 2013-2025
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<strong>Liquid</strong> <strong>Silicone</strong> <strong>Rubber</strong> <strong>Market</strong> <strong>Opportunities</strong>, <strong>Revenue</strong> <strong>and</strong><br />
<strong>Potential</strong> <strong>Applications</strong> <strong>Forecasts</strong> <strong>2013</strong>-<strong>2025</strong><br />
“The growing dem<strong>and</strong> from automotive <strong>and</strong> medical sectors have emerged as<br />
the crucial drivers of the global market in the near future.”<br />
Industry Insights<br />
The <strong>Liquid</strong> <strong>Silicone</strong> <strong>Rubber</strong> (LSR) <strong>Market</strong> size was valued at USD 1.55 billion in the year 2015 <strong>and</strong> is anticipated<br />
to observe substantial growth over the next eight years. The growing dem<strong>and</strong> from automotive <strong>and</strong> medical<br />
sectors have emerged as the crucial drivers of the global market in the near future.<br />
The liquid silicone rubber possesses superior properties for example ability to withst<strong>and</strong> very high temperatures,<br />
chemical inertness <strong>and</strong> electrical resistance. These features have enhanced its broad acceptance across<br />
automotive, electrical & electronics, medical <strong>and</strong> various other sectors. Increasing elderly population is driving<br />
the dem<strong>and</strong> medical devices <strong>and</strong> implants in the medical sector.<br />
The applications of LSR are growing in conventional rubber along with areas where conventional rubber had not<br />
been used. The LSR technology is experiencing a fast change. Some current applications comprise of LED<br />
headlights, medical implants & devices, kitchenware, fitness tracker, bake ware <strong>and</strong> wiper blades as well as<br />
manufacturing drug eluding devices.<br />
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Additional benefits of the material consist of producing lesser waste, high stability in product dimensions, more<br />
volume production on account of its low manufacturing costs <strong>and</strong> short cycle time. As a result, it has substituted<br />
materials such as latex, glass <strong>and</strong> plastic in numerous industrial <strong>and</strong> medical applications.<br />
Strict regulatory norms regarding materials to be applied in medical devices <strong>and</strong> kitchenware is further driving<br />
the dem<strong>and</strong> for the global market. In addition, demographics, improving lifestyle <strong>and</strong> urbanization are boosting<br />
the dem<strong>and</strong> of consumer <strong>and</strong> electronics goods, which in turn is supplementing the market dem<strong>and</strong>.<br />
With an aim to accomplish competitive advantage, the major participants are collaborating with suppliers to<br />
achieve modern material technology. The few material innovations consist of silicone materials with optical<br />
grade, self-lubricated, antimicrobial <strong>and</strong> self-adhesive properties.<br />
Grade Insights<br />
Medical grade is rapidly growing as compared to other grades of liquid silicone rubber. Its widespread<br />
application in manufacturing of oxygen mask instruments, dialysis filters, syringe stoppers, saccules, tracheal<br />
tube <strong>and</strong> other medical parts on account of its bacterial resistance, transparency, high dielectric strength, high<br />
elongation gas permeability <strong>and</strong> numerous other unique properties.<br />
Medical grade is the most expensive grade as it requires completion of numerous regulations in order to be<br />
applied in manufacturing medical devices. It is also substituting latex at a significant rate which was used in<br />
implantable devices since long back as it caused opposing reactions in the patient’s body.<br />
In terms of revenue generation, industrial grade is the largest segment <strong>and</strong> is applied in industries such as<br />
construction, aerospace, electronics, cosmetics <strong>and</strong> various other components. It is a suitable material for parts<br />
such as keypads, electronic displays, grommets, antennas <strong>and</strong> others.<br />
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Application Insights<br />
The dem<strong>and</strong> for the material is undergoing rapid growth in medical industry led by increasing dem<strong>and</strong> for<br />
disposable devices <strong>and</strong> medical implants. Compatibility regarding long term implantable devices, technological<br />
advancements, bacteria <strong>and</strong> advent as a drug eluting product is expected to enhance the material dem<strong>and</strong> in<br />
medical sectors. The key application areas consist of cardiology, ophthalmology, bariatric surgery, orthopedics,
general surgery <strong>and</strong> others. The market participants operating in plastic injection molding have also grabbed<br />
prospects of the material with a view to cater the increasing requirements from medical sector.<br />
The broader applications of LSR in membranes, LED headlights, valves, gaskets, windshield <strong>and</strong> other parts are<br />
expected to enhance the market dem<strong>and</strong> for the product in automotive applications. The capability of the<br />
material to withst<strong>and</strong> extreme temperatures, cost effectiveness <strong>and</strong> durability is grabbing the attention of<br />
automotive firms, specifically in the manufacturing of gaskets.<br />
The additional benefits of the product consist of energy saving, automated process, minimum waste generation,<br />
short cycle time <strong>and</strong> economies of scale, which is expected to further enhance the usage in automotive industry<br />
over the forecast period. In addition, new trends in the automobile sector are shifting in the way of completely<br />
automated vehicles that are equipped with modern technological features, resulting in creating future paths for<br />
the LSR market in the upcoming years.<br />
Regional Insights<br />
In terms of revenue generation, North America was the largest market accounting for a share of 37.38% of the<br />
global market. The region is the largest consumer of healthcare devices on account of presence of speedily<br />
ageing population. According to the U.S. Department of Health <strong>and</strong> Human Science, in the year 2014<br />
approximately 14.50% of the total U.S. population was aged beyond 65 years <strong>and</strong> by the year 2060 it would<br />
upsurge by more than twice the current population.<br />
Asia Pacific is expected to witness rapid growth with a CAGR of 8.6% over the forecast period. APAC is<br />
experiencing increased dem<strong>and</strong> for LSR for applications in medical such as medical tapes, APIs, prefilled syringes,<br />
prosthetics <strong>and</strong> others. Numerous favorable factors such as rapid economic growth <strong>and</strong> government policies<br />
coupled with rising dem<strong>and</strong> in the end-use applications are attracting investments from foreign companies in<br />
the region over the forecast period.<br />
India <strong>and</strong> China are proving to be vital growth factors for LSR in the APAC region. Setting up of new facilities,<br />
technological innovations <strong>and</strong> increasing applications in the construction sector are further posing rewarding<br />
prospects over the forecast period. The companies operating in China are continuously involved in R&D activities<br />
to develop modern technology for the material. Rapidly growing electronics <strong>and</strong> electrical sectors in the region<br />
is expected to boost the market dem<strong>and</strong>.<br />
Competitive Insights<br />
The LSR market is highly fragmented in nature. The key players are constantly engaged in mergers & acquisitions<br />
in order to strengthen their market presence <strong>and</strong> achieve a competitive edge. In the year 2016, Dana Holding
Corp. announced the acquisition of Magnum Gaskets, U.S. based manufacturer of gaskets for automobile<br />
industries. The acquisition has helped Dana Holding Corp. to widen its customer base in the U.S., specifically in<br />
the automobile industry.<br />
The major participants in the market consists of KCC Corp., Stockwell Elastomerics Inc., Shin-Etsu Chemical Co.<br />
Ltd., Dow Corning, Laur <strong>Silicone</strong>, Zhejiang Xinan Chemical Industrial Group Co. Ltd., Wacker Chemie AG,<br />
Momentive performance Materials Inc., <strong>and</strong> Nusil Technology LLC. The market players are collaborating <strong>and</strong><br />
entering into partnerships with suppliers of silicone to obtain the modern material technology.<br />
<strong>Market</strong> Segment:<br />
Grade Outlook (<strong>Revenue</strong>, USD Million; <strong>2013</strong> - <strong>2025</strong>)<br />
• Food<br />
• Medical<br />
• Industrial<br />
Application Outlook (<strong>Revenue</strong>, USD Million; <strong>2013</strong> - <strong>2025</strong>)<br />
• Medical<br />
• Automotive<br />
• Consumer Goods<br />
• Electricals & electronics<br />
• Others<br />
Regional Outlook (<strong>Revenue</strong>, USD Million; <strong>2013</strong> - <strong>2025</strong>)<br />
• North America<br />
• U.S.<br />
• Others<br />
• Europe<br />
• Germany<br />
• France<br />
• U.K.<br />
• Others<br />
• Asia Pacific<br />
• China<br />
• India<br />
• Japan<br />
• Others<br />
• Central & South America
• Brazil<br />
• Others<br />
• Middle East & Africa<br />
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