The Global Liquid silicone rubber market is forecast to reach USD 4.19 Billion by 2028, according to a new report by Reports and Data. Liquid silicone rubber [LSR] have certain unique traits associated with it. Some of the mentionable features associated with LSR are durability, resistance to high temperature, high dielectric strength, and tensile strength. The presence of these traits in LSR results in its increased application in various industries ranging from the healthcare sector to the electronics industry. Among the different sectors, it is applicable, in the automotive industry, where it finds significant application. A combination of these traits of LSR like lightweight and durability has resulted in its increased use in the automotive industry.
Top Companies: The Dow Chemical Company, Wacker Chemie, Shin-Etsu Chemical, Nusil Technology LLC, KCC Corporation, Zhejiang Xinan Chemical Industrial Group Co., Simtec Silicone Parts, Momentive Performance Materials Inc., Simtec Silicone Parts, Stockwell Elastomerics Inc., Laur Silicone.
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Further key findings from the report suggest
- The Liquid silicone rubber market held a market share of USD 2.42 Billion in the year 2020 that is forecasted to grow at a rate of 7.3% during the forecast period.
- Continuous emphasis on R&D and technological advancements by key players of the market like Dow Corning along with the introduction of new products would enhance industry opportunities of LSR market during the forecast period, which would positively impact its market growth.
- In context to Grade, the Industrial segment can be seen to lead that generated the highest revenue of USD 0.91 Billion in the year 2020 with a considerable growth rate of 7.6% during the forecast period. Factors like the increased application of LSR in the automotive sector for manufacturing of various parts of the automobile, along with its use in different other industrials purposes, have contributed to the revenue generated by this segment.
- In regards to Curing system, Injection molding segment is dominating the market that generated the highest revenue of USD 1.02 Billion in 2020 with the growth rate of 7.6% during the forecast period. The fact that there has been an increased demand of LSR in the industrial segment and this type of curing system is useful in producing durable parts, in large volume as per the need of various industries, have contributed to the revenue generated by this segment.
- In context to Application areas, the Sealing, coatings, and gaskets segment is dominating the market occupying 20% of the market in 2020 that is forecasted to hold 21% of the market by 2028. The market share occupied by the Sealing, coatings, and gaskets segment is the result of expansion in the automotive industry, and feature of LSR like durability, and corrosion resistance that makes it apt for application in this segment.
Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- Industrial
- Food
- Medical
Curing system type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- Injection molding
- Peroxide cure system
- Platinum-based cure system
- Condensation cure system
Application areas Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- Medical implants
- Medical devices
- Sealing, coatings, and gaskets
- Windshield wipers sensors
- Dampers
- Electrical Insulation
- LED Light Components and panel buttons
- Water Contact Products
- Home Appliance Components
- Infant Care Products
- Others
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Liquid Silicone Rubber Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Liquid Silicone Rubber Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Liquid Silicone Rubber Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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