Global Liquid Silicone Rubber Market accounted for USD 884.3 million and projected to grow at a CAGR of 9.1% during the forecast to 2024.
The CAGR levels in the forecast year 2024 will see significant changes due to the impact of the key players of the Global Liquid Silicone Rubber Market. There have been the tactical moves developments, product launches, joint ventures, mergers, and acquisitions.
This Report by Data Bridge Market Research on Global Liquid Silicone Rubber Market that gives us a vision into the changes that have occurred due to some very important players. This report emphasis on the uppermost manufacturers in North America, Europe, Japan, China, India, Southeast Asia and other regions (Central & South America, and the Middle East & Africa).
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Liquid Silicone Rubber possesses exceptional elasticity that gets into its normal shape after stretching. Liquid silicone rubber deals with different qualities for instance, hardness, tensile strength, and compression set. Moreover, it is bacteria resistant and also water repellent. It has its wide application in automotive, medical, electrical & electronics, and consumer goods. Increasing demand for LSR-based products in the healthcare industry, and increase in demand for LSR in the electrical & electronics industry may act as the major driver in the growth of Liquid silicone rubber market. On the other side, stringent regulatory policies may hamper the market.
Key focus of the report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward-looking perspective on different factors driving or restraining market growth
- It provides five-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
Major Market Competitors:
Some of the major players in Global Liquid Silicone Rubber Market include Dow Corning Corporation, Wacker Chemie AG, Elkem Silicones, NUSIL, KCC CORPORATION, SIMTEC, Stockwell Elastomerics, Inc., Zhejiang Xinan Chemical Industrial Group Co., Ltd., REISS MANUFACTURING, INC., Momentive, Applied Silicone Corporation, MESGO S.p.A., Accurate Products Corporation (P) Ltd., and others.
Major Market Drivers:
- Increasing demand for LSR-based products in the healthcare industry
- increase in demand for LSR in the electrical & electronics industry
- Stringent regulatory policies
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The Global Liquid Silicone Rubber Market is segmented on the basis of grade into industrial grade, medical grade, and food grade.
- On the basis of application, the global liquid silicone rubber market is segmented into automotive, medical, electrical & electronics, consumer goods, and others. The automotive segment is sub segmented into components, automotive parts. The components segment is sub segmented into harness components, and self-lubricating components. The automotive parts segment is sub segmented into membranes & valves, dampers and noise reduction folds, and seals & gaskets. The medical segment is further sub segmented into implants, medical devices, and medical equipment parts. The medical devices segment is sub segmented into skin contact devices, and infusion pumps and dialysis filters. The medical equipment parts segment is sub segmented into flow control valves, sterilized parts, syringe stoppers, and precision equipment vibration dampers. The electrical & electronics segment is sub segmented into electrical insulation, and electrical & optical components. The electrical insulation segment is sub segment into electronic potting. The electrical & optical components segment is sub segmented into led light components, and lighted panel buttons. The consumer goods segment is sub segmented into home appliance components, food contact products, water contact products, and infant care products. The home appliance components segment is sub segmented into o-rings and gaskets, and others. The others segment is segmented into knife holders, and spatulas. The food contact products segment is sub segmented into baking molds, and ice cube trays. The water contact products segment is sub segmented into sanitary applications, and drinking water cans. The infant care products segment is sub segmented into infant nipples, and toys. The others segment is sub segmented into cosmetic applications, building & construction, aerospace & aeronautics, and industrial components. The industrial components segment is sub segmented into irrigation and filtration components, and over molded parts.
- On the basis of geography, the global liquid silicone rubber market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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The global liquid silicone rubber market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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