Enjoy complimentary customisation on priority with our Enterprise License!
The liquid silicone rubber market size is estimated to grow by USD 1.65 billion at a CAGR of 9.63% between 2023 and 2028. High investment in infrastructure in emerging countries is fueling demand for construction materials and equipment, driving growth in related sectors. The growing demand for lightweight materials is being driven by industries such as automotive, aerospace, and construction, where lightweight materials offer benefits such as improved fuel efficiency, higher payload capacity, and easier handling. Additionally, the high rate of hip and knee implants is being driven by factors such as an aging population, increasing prevalence of osteoarthritis, and advancements in medical technology. These factors collectively contribute to the growth of their respective markets and drive innovation in materials and technologies.
Liquid silicone rubber (LSR), also known as liquid silicone, is a type of silicone elastomer. LSR products are formed using liquid, low-viscosity silicone materials. In addition, LSR can be used in rubber sheets or injection molding. It is also used in various applications owing to its fast cure cycle and performance characteristics.
To Know more about the market report Request Free Sample
The market is influenced by various factors, including trade sanctions impacting the supply chain. The demand for LSR is high in the healthcare and baby care industries, as well as in automotive components manufacturing. LSR is valued for its purity, chemical and physical resistance, and flexibility, making it ideal for use in medical devices and pharmaceutical sales. Its sterilization properties and biocompatibility are crucial for applications such as implants and prostheses. With the rise in chronic diseases and the aging population, LSR's durability and resistance to contamination are increasingly important. The industry also relies on sterilization methods like steam autoclaving, ethylene oxide (ETO), and gamma and e-beam techniques to ensure product safety. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
High investment in infrastructure in emerging countries is driving market growth. The global construction industry is growing at a rapid rate, owing to the major contribution from emerging countries. In 2019, the global construction industry registered a revenue close to USD 9 trillion, whereas, in 2012, it was only USD 7.91 trillion. It is expected to reach USD 14.98 trillion by 2025. The emerging countries in APAC, South America, and MEA (such as India, Brazil, and South Africa) accounted for a 51.9% share of the total revenue generated by the construction industry in 2019. These countries are very likely to account for 62.5% of the market share by 2025. The governments of these regions are heavily investing in residential homes, owing to the migration of a large number of people to the metropolitan cities instead of jobs, better lifestyles, and other amenities. This trend is driving the demand for residential properties with features such as purity, chemical and physical resistance, and durability, especially in regions facing trade sanctions and high demand for liquid silicone rubber (LSR).
Moreover, in the construction industry, construction-grade LSR is widely used as a silicone sealant in SSG. In addition, silicone accounted for around 30%-40% share of the global sealants market in 2019. In terms of revenue, the construction industry accounted for the highest market share in the global silicone sealant market in 2019. This can be attributed to the high infrastructural development in developing economies and the high consumption of LSR as a sealant in the construction sector. Therefore, the increasing demand for infrastructure projects in developing countries is expected to drive the growth of the global LSR market during the forecast period.
The use of Antimicrobial LSR-silicone elastomers is a major trend in the market. Antimicrobial LSR-silicone elastomers are essential in preventing bacterial growth on the surfaces of devices, thereby reducing the occurrence of strong odors, discoloration, and mildew formation. The silver ion-based technology used in these elastomers makes them versatile and useful in a wide range of applications such as healthcare, medical devices, food processing, pet food production, beverage manufacturing, and agriculture. In the healthcare industry, these antimicrobial LSR-silicone elastomers are used in advanced wound dressings, catheters, and wound drains. They are also extensively used in the production of medical tubing for controlled drug release applications.
Moreover, the Momentive's StatSil is a leading brand that offers antimicrobial LSR-silicone elastomers, which are used in various medical and pharmaceutical applications as coatings, sealants, and additives. Moreover, the growing medical industry in the APAC and ROW regions is driving demand for LSR. FDA regulations allow the use of antimicrobial LSR-silicone elastomers in the food industry for different applications such as food processing, vending tubing, breweries, dairy, and antimicrobial belting. Contact US today to learn more about how our antimicrobial LSR-silicone elastomers can benefit your business in these industries.
Stringent clinical and regulatory policies are hindering market growth. LSR products that are biocompatible are essential for critical medical applications, and healthcare providers must adhere to pre-market and post-market evaluations of medical devices used in medical practices. Regulatory bodies in the EU and US have taken measures to simplify clinical policies and reforms. In the EU, regulations have been put in place to monitor the safety and effectiveness of medical devices used in clinical processes. The active implantable medical devices directive regulates high-risk devices like pacemakers and deep brain stimulation devices, while the Vitro diagnostic directive oversees invitro devices.
Similarly, the Food and Drug Administration (FDA) in the US has established various policies to regulate the clearance and approval of medical devices. As a result, manufacturers of silicone elastomers must comply with these rules for medical applications due to the high risks involved in using external materials in the body. These strict regulations and clinical policies present challenges to LSR manufacturers.
The market share growth by the industrial segment will be significant during the forecast period. Industrial grade LSR is used extensively in various industries such as construction, automotive, and electronics. Owing to its properties, such as insulation, dependence on material additives, and resistance to extreme temperatures, it is extensively used in various industrial applications.
Get a glance at the market contribution of the End User segment Request Free Sample
The industrial segment was valued at USD 1.05 billion in 2018. The construction industry, which encompasses the construction of bridges, roads, and buildings, is the dominant end-user segment of the global LSR market. LSRs are used as sealants, coatings, and water repellents due to their properties, such as thermal stability, high permeability, water repellence, UV resistance, and oxidative stability. The most widely used application of liquid silicone sealant is structural silicone glazing (SSG), which is a method of bonding metal, glass, ceramic, and composite panels to the frame of the building.
North America is estimated to contribute 38% to the growth of the market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
The LSR market in North America is expected to witness significant growth during the forecast period. The US is one of the major markets for automotive and is a mature market in terms of automobile technology. This can be attributed to the presence of a large consumer base with high disposable incomes. These factors drive the sales of automobiles in the country, thereby forcing OEMs to expand their manufacturing capabilities. Mexico closely follows the US in terms of automotive production in North America. The market for high-performance passenger vehicles in North America will increase the demand for LSR in the automotive components and coatings segments.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Dongguan New Orient Technology Co. Ltd - The company manufactures and distributes rubber and plastic products. The key offerings of the company include liquid silicone rubber products.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Avantor Inc., Cabot Corp., CHT Germany GmbH, Dow Chemical Co., Elkem ASA, Genstar Technik, Mesgo Spa, Momentive Performance Materials Inc., Newtop Silicone Manufacturer, NTCB, RD Rubber Technology Corp., REISS MANUFACTURING Inc., Rosti Group AB, Ruijin, Shin Etsu Chemical Co. Ltd., SIMTEC Silicone Parts LLC, Stockwell Elastomerics Inc., Wacker Chemie AG, and Wynca Group
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is vital for various industries, including automotive applications, electronics and electrical industry, and medical and healthcare industries. LSR offers chemical resistance and environmental requirements, making it ideal for sealing and encapsulation in electrical components and medical equipment. Its heat resistance and sterilizability are essential for medical uses and healthcare treatments. LSR's longevity and weather resistance ensure safety and quality in automotive parts and electronic components. Despite competition from alternatives, LSR remains favored for its versatility and tolerance to high temperatures, supporting industrial automation and precision manufacturing. Gaskets and seals play vital roles in preventing leaks in machinery. In medicine, they're crucial for organ parts and treating organ failure cases.
Moreover, the market is experiencing significant growth driven by various factors. With the increased heat resistance and chemical stability of LSR, it is a preferred choice in demanding industries like automotive, healthcare, and electronics. The elderly population contributes to the rising demand for medical devices, where LSR's bacterial resistance and electrical insulating qualities are crucial. Moreover, LSR's soft-touch feel and clarity make it ideal for personal care products and infant care items. Despite facing regulatory challenges and the need to meet strict rules and standards, the LSR market is poised for continuous growth, driven by ongoing technological developments and environmental issues.
|
Liquid Silicone Rubber Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
180 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 9.63% |
|
Market growth 2024-2028 |
USD 1.65 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
8.56 |
|
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
|
Performing market contribution |
North America at 38% |
|
Key countries |
US, China, Germany, Canada, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Avantor Inc., Cabot Corp., CHT Germany GmbH, Dongguan New Orient Technology Co. Ltd, Dow Chemical Co., Elkem ASA, Genstar Technik, Mesgo Spa, Momentive Performance Materials Inc., Newtop Silicone Manufacturer, NTCB, RD Rubber Technology Corp., REISS MANUFACTURING Inc., Rosti Group AB, Ruijin, Shin Etsu Chemical Co. Ltd., SIMTEC Silicone Parts LLC, Stockwell Elastomerics Inc., Wacker Chemie AG, and Wynca Group |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Grade Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
