Liquid silicone rubber (LSR) is an outstanding solution for high optical clarity combined with long-term durability that can withstand high temperature and UV lights. The requirement of complex and innovative devices in electronics and automotive industries has led to the adoption of flexible LSRs into the molding process.
Automotive Industry
This industry is considered to be highly competitive, and key players are expected to strike competitive advantage by implementing cost cutting production methods with reduced wastage. The adoption of liquid silicone rubber is a cost-effective alternative to traditional rubbers, and the application of LSR in the automotive industry can be observed as a breakthrough. The presence of temperature, chemical resistance, optical clarity, and compression are four main determining factors, increasing the application of liquid silicone rubber in the automotive industry.
The usage of industrial grade liquid silicone rubber is expected to increase in the automobile industry as the rubber is used in the manufacturing of waterproof connectors, sparkplug boots, hoses, turbo chargers, LED lightings, and O-rings. Industrial grade LSR has extensive heat, oil, and steam resistant. In 2019, the liquid silicone rubber automotive market generated over $580 million. The APAC region is the major contributor to the market, and the region generated over $192 million in 2019.
Healthcare Industry
LSR is used to develop several medical devices and accessories in the healthcare industry. Wearables are the fastest growing device using LSR. Wearable technology includes Fitbit and jawbone, where liquid silicone rubber is considered as the best alternative due to its resistance against UV radiations and temperatures. The healthcare LSR market generated a revenue of over $550 million in 2019, which is estimated to increase over 40% by 2024. In 2019, the APAC region was the highest revenue contributor to the market. The growing demand in surgical tools and devices makes the healthcare segment as one of the leading revenue generators for the global liquid silicone rubber market. This growth rate is likely to increase due to factors such as clean room technology molding of LSR and increased biocompatibility requirements by medical experts.
Consumer and Baby Care Industry
LSRs are the most preferred components in silicone toys manufacturing. Majority of thermoplastics gain their flexibility characteristics from hazardous plasticizers and are prone to leak over time due to wear and tear. Thermosets such as liquid silicone rubber are pure and stable to manufacture baby bottles, caps, pacifiers, bottle nipples or other components. The inorganic backbone of LSR makes it bacteria resistant. In 2019, the consumer and baby care Industry contributed a revenue of over $475 million to the market. The APAC region accounted for a major share in 2019 due to the presence of several toys and baby care products manufacturing centers in China. The market is expected to bolster growth on account of the growing inclination of people toward safety in baby products such as toys and other accessories such as bottles and nipples.
Prominent Vendors
- Dow Chemical
- Wacker
- KCC
- Shin-Etsu Chemical
- Elkem
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