Liquid Silicone Rubber (LSR) Market Size & Share, by Grade Type (Food Grade, Industrial Grade, Medical Grade); Processing Techniques (Liquid Injection Molding System, Compression Molding); End-user Industry (Automotive, Healthcare, Electrical & Electronics, Cosmetics, Building & Construction) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5168
  • Published Date: Aug 18, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

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.


Liquid Silicone Rubber Market
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Liquid Silicone Rubber (LSR) Market: Growth Drivers and Challenges

Growth Drivers

  • Surge in Use of Liquid Silicone Rubber in Agriculture: The agricultural industry has experienced significant growth and invention, including disruptors such as precision agriculture, aquaponics (hydroponics), and water desalination. Modern agricultural techniques necessitate cutting-edge innovation (such as bioengineering) for irrigation, precise fertilizer& pesticide application, water filtering, and circulation applications under adverse weather and field erosive circumstances. Hence, the utilization of liquid silicone rubber is on the rise since it offers durability, salt resistance, and hygiene.
  • Rise in Demand for Baby Products & Toys: Baby bottles, bottle inserts, nipples, and any other equipment used to gather and preserve breast milk or infant formula are instances of LSR baby products. LSR possesses a natural resistance to many harmful substances due to its molecular structure, and the injection molding technique offers distinctive designs for a range of baby items. Hence, liquid silicone rubber is considered to be the best solution for baby products.
  • Growing Application of Liquid Silicone Rubber in Kitchen Products: Liquid silicone rubber, which is used to make bakeware, not only makes it convenient to use additionally prevents food flavors from being affected. Additionally, it is able to tolerate exposure to temperature variations when being baked or frozen. Products made of silicone are simple to clean and maintain their shape even after being cleaned in the dishwasher.

Challenges

  • High Cost of Liquid Silicone Rubber
  • Low Tear Strength
  • Stringent Government Regulations - Government efforts to regulate healthcare costs and a lack of financing for product development are somewhat limiting market expansion. The main obstacles for the market are rigid and cumbersome regulatory laws. A number of developmental issues are brought up by the strict requirements, particularly in the medical sector.

Liquid Silicone Rubber Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~9%

Base Year Market Size (2022)

~ USD 3 Billion

Forecast Year Market Size (2035)

~ USD 9 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Liquid Silicone Rubber Segmentation

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:

 

   Grade Type

  • Food Grade
  • Industrial Grade
  • Medical Grade

 

   Processing Techniques

  • Liquid Injection Molding System
  • Compression Molding

 

 

 

   End-User Industry

  • Automotive
  • Healthcare
  • Electrical & Electronics
  • Cosmetics
  • Building & Construction

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Liquid Silicone Rubber Industry- Regional Synopsis

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.

Research Nester
Liquid Silicone Rubber Market Size
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Companies Dominating the Liquid Silicone Rubber (LSR) Market

top-features-companies
    • Wacker Chemical AG
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • The Dow Chemical Company
    • Quantum Silicones, Inc.
    • SHENZHEN LIANHUAN SILICONE RUBBER CO., LTD.
    • KCC Corporation
    • Simtec Silicone Parts, LLC
    • Avantor, Inc.
    • RICO Elastomere Projecting GmbH
    • MESGO S.p.A.
    • Shenzhen Hong Ye Jie Technology Co., Ltd. 

In-the-news

In The News

  • A new silicones production facility has been established in Panagarh, India, by the chemical company WACKER Chemical AG, based in Munich. The facility, which located 160 kilometres northwest of Kolkata, will produce silicone rubber and ready-to-use silicone compounds for electromobility, medical technologies, and electrical transmission and distribution.
  • The Dow Chemical Company was supposed to launch the first programme of its kind for carbon-neutral silicones in building facades. The carbon-neutral silicones, which are used for structural glazing, insulating glass, and weather sealing, were anticipated to be PAS 2060-verified to aid in reducing the environmental effect of buildings.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5168
  • Published Date: Aug 18, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are surge in use of liquid silicone rubber in agriculture, rise in demand for baby products & toys, and growing application of liquid silicone rubber in kitchen products.

The market size of liquid silicone rubber is anticipated to attain a CAGR of 9% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Wacker Chemical AG, The Dow Chemical Company, Quantum Silicones, Inc., SHENZHEN LIANHUAN SILICONE RUBBER CO., LTD., and others.

The medical grade segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Liquid Silicone Rubber Market Report Scope
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