Liquid Silicone Rubber (LSR) Market Size & Share

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 (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 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.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the liquid silicone rubber market?

Ans: 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.

2) What would be the CAGR of the liquid silicone rubber market over the forecast period?

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

3) Who are the major players dominating the liquid silicone rubber market?

Ans: 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.

4) Which segment captures the largest market size in the grade type segment in the liquid silicone rubber market?

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

5) Which region will provide more business opportunities for the growth of the liquid silicone rubber market in the future?

Ans: 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.

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)