San Francisco, 22
October 2018: The global liquid silicone rubber market is expected to reach USD 3.29 billion by 2025,
according to a new report by Grand View Research, Inc. Increasing applications
in end-use segment, particularly in medical and electronics industry has
propelled the demand for the overall market. In addition, rising geriatric
population and new material developments continue to fuel the demand of overall
market.
Unique properties of
liquid silicone rubber such as chemical inertness, heat resistance,
flexibility, low viscosity has made it an ideal material to be incorporated
into medical implants and devices. Moreover, the market is undergoing through extensive
research and development process to innovate the material technology, which
creates huge growth opportunities in upcoming years for the market.
Industrial grade was the
largest segment in grade category in 2015 and held 53.5% of the overall market
revenue. Automotive sector includes major applications of liquid silicone
rubber in manufacturing of LED headlights, wiper blades and several other
electronic components.
Medical application was
the fastest growing segment over the forecast period with an estimated CAGR of
around 9% from 2016 to 2025. The material is biocompatible thus has major
applications in medical implants & devices, equipment parts such as
sterilized parts, valves, skin contact devices, infusion pumps and others.
Access Research Report
of Liquid Silicone Rubber
Market @ www.grandviewresearch.com/industry-analysis/liquid-silicone-rubber-lsr-market
Further key findings from the report suggest:
· The global liquid silicone rubber market
revenue reached USD 1.5 billion in 2015 and is expected to grow at a CAGR of
7.9% from 2016 to 2025
· Industrial grade emerged as the largest
grade segment in 2015 and is estimated to generate revenue over USD 1.7 billion
by 2025
· Global liquid silicone rubber revenue in
medical application was USD 285.6 million in 2015 and is anticipated to witness
staggered growth over the next nine years
· The U.S. liquid silicone rubber market in
medical application is expected to reach a total revenue of over USD 234.4
million by 2025
· The industry in Asia Pacific is projected
to witness rapid growth over the next decade owing to various developments
across major economies, especially in the automotive and electronics industry.
The regional market is expected to grow at a CAGR of 8.6% from 2016 to 2025
· Key participants in the market include Dow
Corning, Momentive Performance Materials Inc., KCC Corporation, Simtec Silicone
Parts, LLC, Bluestar, Stockwell Elastomerics Inc., Zhejiang Xinan Chemical
Industrial Group Co., Ltd., Shin-Etsu Chemical Co., Ltd., Wacker Chemie AG,
Nusil Technology LLC, Laur Silicone and others. In the recent years, new
product developments and acquisitions have been the major growth strategy
acquired by key industry players for enhancing their market positions.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/advanced-materials
Grand View
Research has segmented the global liquid silicone rubber market on the basis of
grade, application and region:
Grade Outlook (Revenue, USD Million; 2013 - 2025)
·
Food
·
Medical
·
Industrial
Application
Outlook (Revenue, USD Million; 2013 - 2025)
·
Medical
·
Automotive
·
Consumer Goods
·
Electricals & electronics
·
Others
Regional
Outlook (Revenue, USD Million; 2013 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Liquid Silicone Rubber Market@ www.grandviewresearch.com/press-release/global-liquid-silicone-rubber-lsr-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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