Global Liquid Silicone Rubber Market: Key Highlights
- The global liquid silicone rubber market is segmented by grade and application
- Based on the grade the market is segmented by industrial, medical, food. Industrial grade liquid silicone segment accounted for the major market share, However, the medical-grade segment is expected to grow at the fastest growth rate
- On the bases of the region, the market is segmented into the Americas, Europe, Asia Pacific, and Middle East & Africa
- Americas accounted for the lion share in the market owing to the well-developed healthcare sector
- Top players that account for the major share include Dow, Wacker Chemie AG, Momentive, Shin-Etsu Chemical Co., Ltd., and among others
Global Liquid Silicone Rubber Market: Key Market Dynamics
- Liquid Silicone Rubber is majorly being used for manufacturing the electrical and electronics components. Thus, the increasing demand for the electrical and electronics device is driving the market during the forecast period
- Moreover, liquid silicone rubber is used for the production of implants and medical devices due to its durability, ease of molding by many methods, wide useful temperature range, chemical inertness, high tensile strength due to these properties it is widely used in the healthcare sector
- However, stringent regulatory policies by various government bodies is hindering the growth of the market
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Global Liquid Silicone Rubber Market: Regional Overview
- Americas region is further divided into North America and Latin America. North America further divided into the US and Canada
- The North America region is dominating the liquid silicone rubber market owing to the well-developed healthcare sector and growing spending on human health care.
- For instance, U.S. health care spending grew 4.6 % in 2018, reaching USD 3.6 trillion similar to the USD 11,172 per person
- By 2028, Forencis research estimates these costs will rise to $2.9 trillion, or 9.7 percent of the economy
- Rising health expenditure per person is influencing the growth of the liquid silicone rubber market in the Americas region
- Asia Pacific
- Asia Pacific region is segmented into five major countries including China, Japan, India, Australia, South Korea, and the Rest of the Asia-Pacific
- The growing Electrical and electronics sector in this region is driving the liquid silicon rubber market
- For instance, According to Forencis research, in 2017, 62% of LED/LCD televisions, 70% of semiconductors, 76 % of car navigation systems, 86 % of mobiles and smartphones, and around 100 %of digital cameras are manufactured in Asia
- China has accounted for the largest market share and expected to grow at the highest CAGR during the forecasted period
- Global companies are establishing distribution networks and R&D centers in this region are driving the liquid silicon rubber market in this region
Global Liquid Silicone Rubber Market: Key Players
Some of the key players operating in the market include Avantor, Dow, Elkem Silicones, KCC Corporation, Laur Silicone, Momentive, Shin-Etsu Chemical Co., Ltd., Simtec Silicone Parts, LLC, STOCKWELL ELASTOMERICS, INC., Wacker Chemie AG, and among others.
Global Liquid Silicone Rubber Market: Key Developments
- In April 2018, Dow has developed a new 3D-printable liquid silicone rubber namely EVOLV3D LC 3335 liquid silicone rubber
- Avantor Inc. has acquired Puritan Products, Inc., a supplier of cGMP buffers and solutions for Biopharma customers, and high-purity chemistries for Research and Electronic Materials customers
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