Liquid Silicone Rubber Market size is projected to reach USD 9 billion by the end of 2035, expanding around 9% CAGR during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of liquid silicone rubber was about USD 3 billion. This growth of the sector is estimated to rise on account of the growing demand for wearable technology such as smartwatches. For instance, by the end of 2023, there are estimated to be approximately 223 million people using smartwatches all around the world. Hence, the demand for liquid silicone rubber is growing. For such devices, liquid silicone rubber (LSR) is a crucial component.
LSR exhibits many benefits, including a smooth tactile texture that prevents irritation to the skin in long-term skin contact operations and consistent sealing performance for fluid route applications that inhibits the permeability of leachable and extractable. Additionally, growing obesity among people is also estimated to drive the demand for smart wearable device further boosting the liquid silicone rubber market growth. According to the World Health Organization, over 1 billion individuals, including 650 million adults, 340 million teenagers, and 39 million toddlers, were obese in 2022.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~9% |
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Base Year Market Size (2022) |
~ USD 3 Billion |
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Forecast Year Market Size (2035) |
~ USD 9 Billion |
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Regional Scope |
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Grade Type (Food Grade, Industrial Grade, Medical Grade)
The medical grade segment in the liquid silicone rubber market is set to capture a share of about 60% over the forecast period. Manufacturers in the medical, healthcare, and life sciences industries have demanding requirements for components, which need to adhere to ever-tighter tolerances and comply with safety and hygiene standards. Liquid silicone rubber is the perfect material for a wide variety of medical instruments and healthcare devices since it is chemically inert, resistant to a wide range of chemicals, and biocompatible.
Processing Techniques (Liquid Injection Molding System, Compression Molding)
Liquid silicone rubber market from the liquid injection molding system segment is expected to gather a share of approximately 61% during the projected period. In light of the greater degree of quality and durability of the finished product, the liquid injection molding process has established a reputation as the preferred technique among many rubber part makers. Due to the high levels of automated processes, reliability, and speed enabled by this injection molding method, manufacturing is possible around-the-clock. Almost all industries—including those in the automotive, medical, electronics, food, defense, and textile—take advantage of the potential offered by the liquid injection molding technique, which supports market expansion.
Our in-depth analysis of the global liquid silicone rubber market includes the following segments:
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Grade Type |
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Processing Techniques |
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End-User Industry |
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APAC Market Forecast
The liquid silicone rubber market in Asia Pacific is poised to garner the highest share of about 30% over the forecast period, backed by growing demand for automotive. As per predictions, approximately 36 million passenger automobiles were sold in the Asia-Pacific area in 2022, including the Middle East, with approximately 22 million of the majority of sales occurring in China. LSR gaskets, valves, O-rings, grommets, sealed connectors, single wire seals, and various other molded automotive parts that must adhere to strict standards and specifications are necessary for high-performance automotive. Hence, with the growing demand for automobiles, the market demand in this region is also growing.
European Market Analysis
The liquid silicone rubber market in Europe is also slated to have significant growth by the end of 2035. The region's silicone rubber market is predicted to expand as demand for eco-friendly building materials increases. Silicone sealant application in buildings, particularly residential construction, presents major revenue prospects to chemical producers in this region. Since, they may employ these building supplies to increase or promote their green-building ratings, organizations in the construction and building sector are using silicone rubber components in glazing, insulating glass, and weather sealing in this region.
Author Credits: Smruti Ranjan, Rajrani Baghel
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