The global liquid silicone rubber (LSR) market is anticipated to surpass USD 3 billion by 2025. The market stood at nearly USD 1.55 billion in 2015. Growing medical and automotive applications can fuel the market over the forecast period. Liquid Silicone Rubber (LSR) finds many conventional applications that are similar to regular rubber. LSR can withstand electrical charge, high temperature, and various chemicals. These characteristics can boost its adoption in various applications.
Rapid advancements may promote its applications in medical implants, drug eluding devices, kitchenware, fitness trackers, LED headlights, bake-ware, and wiper blades. Increasing geriatric population is anticipated to propel the demand for medical devices & implants. This factor is expected to propel market growth over the forecast period.
LSR has a high stability. It produces lesser waste. It can be manufactured in a larger volume owing to the low production costs and shorter cycle time. The product is fast replacing glass, plastic, and latex in various applications. All these factors can positively impact the applications and adoption of liquid silicone rubber. . Rapid urbanizations, improving lifestyle, and population explosion can further fuel the product demand in the near future.
The global LSR market is categorized on the basis of grades, applications, and regions. On the basis of grades, the market is trifurcated into food, industrial, and medical. Medical grade may witness rapid rise in terms of demand during the forecast period. Applications in manufacturing of dialysis filters, oxygen mask instruments, tracheal tubes, syringe stoppers, saccules, and medical instruments can impel the demand. Industrial grade may witness steady demand from aerospace, cosmetics, electronics, construction, and others in the years to come.
Major application segments are split into automotive, consumer goods, electrical & electronics, medical, and others. High demand for disposable devices and medical implants can propel the market over the forecast period. Preference for durable, technologically advanced, and bacteria resistant products can further support the expansion. Rising application in ophthalmology, cardiology, orthopedics, bariatric, general surgeries, and other medical applications are expected to create impressive growth opportunities till 2025.
Geographically, the global market is divided into North America, Central & South America (CSA), Europe, Middle East & Africa (MEA), and Asia Pacific. North America led the global market on account of demand in 2015. High demand from healthcare devices owing to rising geriatric population can drive the regional market in the next few years.
Asia Pacific is predicted to witness a substantial CAGR in the near future. Applications in manufacturing prosthetics, prefilled syringes, APIs, medical tapes, and other devices can boost the regional market till 2025. Moreover, economic growth and favorable government policies can further support the market in the near future.
Dow Corning; KCC Corp.; Laur Silicone; and Momentive Performance Materials Inc., are some of the key players operating in the liquid silicone rubber market. Most companies participate in strategic collaborations, mergers & acquisitions, and partnerships as the chief strategies to gain stronghold over the global market.
Recently, Momentive Performance Materials Inc., unveiled its self-bonding LSR technology, Silopren LSR 27x9 series. This can offer one-step molding silicone elastomers with thermoplastics along with other substrates. This series can stick to metal molds with polycarbonate and without using any primer. It can allow a short cycle time, improved productivity, and design flexibility.
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