The automotive industry is expected to be a major end-user of liquid silicone rubber products.
CHICAGO, IL, UNITED STATES, December 5, 2019 /EINPresswire.com/ -- According to Arizton’s recent research report, Liquid Silicone Rubber Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of around 9% during the forecast period.
Key Highlights Offered in the Report:
By 2025, the LSR market will witness an incremental growth of $1.36 billion. The APAC region is expected to be the major contributing region with approximately 37% of the total market share by 2025.
Due to the superior medical grade requirements and increase in clean room molding techniques, medical grade LSR is the expected to grow at a CAGR of around 10%.
The growth in electronic and autonomous vehicles along with 3D printing trends are the major drivers for the growth of industrial LSR.
North America is expected to witness significant growth due to the rise in automobile and electronics industries by 2025.
The healthcare industry is the largest end-user of the LSR. The APAC healthcare industry is expected to grow at a CAGR of over 11% during the forecast period.
While China, Japan and South Korea are the major hotspots for industrial grade LSR, the advanced healthcare facilities in European countries like Germany, France and the UK are the major potential markets for medical grade LSR which is expected to grow more than 40% during the forecast period.
Market Size & Forecast by Revenue | 20192025
Market Dynamics Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation A detailed analysis by grade, end-user, and geography.
Competitive Landscape Profile of 5 key vendors and 20 other vendors.
Liquid Silicone Rubber Market Segmentation
Food grade liquid silicone rubbers are widely used for food preparation and storage. They are designed in such a way that they become hypoallergenic to consumers. They resist bacteria and microorganism growth, thereby increasing their application in the food and beverage industry.
The replacement of thermoplastic elastomers by liquid silicone rubber for the manufacturing of baby care products, infant goods, and other consumer durables is a significant boost for the baby care market growth. APAC has emerged as the strongest market for consumer and baby care products.
High hygiene capabilities of medical-grade LSR and specialized medical applications in cardiology, oncology, orthopedics, neurosurgery, and other surgeries have substantially increased the market share of the medical-grade segment.
Market Segmentation by Grade
Market Segmentation by End-users
Consumers & Baby Care
Electrical and Electronics
Liquid Silicone Rubber Market Dynamics
The continuous demand from the medical industry tend to test the capabilities of the liquid molding machine manufacturers. In order to perform less invasive procedures with quicker recovery time, doctors and surgeons are in need of high complex devices and equipment with high precision and innovation. This has led to an increasing demand for medical grade LSR and introduced the concept of micro molding, which helps in molding LSR up to 2 microns. Micro molding is a process of producing extremely small, but high resistant thermoplastic parts. This technique is witnessing a growth in the medical, electrical & electronics, industrial and medium scale industries due to their specific requirement of tight tolerance, microscopic and more precise components.
Key Drivers and Trends fueling Market Growth:
Advantage over Organic Rubbers
Superior Medical Grade Requirements
The Growth of Lightings and Sensors in Automobiles
Growth in 3D Printing
Liquid Silicone Rubber Market Geography
The global liquid silicone rubber market is greatly influenced by major industries such as automotive, electronics, and healthcare. The APAC region is the market leader due to the presence of several electronics and manufacturing sites that are making use of this material. China is a global leader in the semiconductor industry generating more than half of the global revenue. The abolition of ‘One child policy’ by the Chinese communist party to reduce the ratio of aging population has substantially increased the infant numbers. This is driving the growth of LSR as it finds its increased use in baby care products and toy manufacturing industries.
Market Segmentation by Geography
o South Korea
o Saudi Arabia
Other vendors include - CHT, Mesgo, NuSil, Reiss Manufacturing Samsung Electronics, Wynca Tinyo Silicone, Dongguan New Orient Technology, Guangdong Polysil, Shenzhen Square Silicone, Laur Silicone, Tinci, JiangSu TianChen, Sisib Silicones, Mingcheng Group Ltd., Shenzhen Hong Ye Jie Technology, Aspire Technology Co., Ltd, Shenzhen Lianhuan Silicone Rubber, Polysil, Chemical Brothers, and Chemzest.
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