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Global Liquid Silicone Rubber Market to Grow at a CAGR of 8% During 2021-2026, Aided by the Heightened Implementation of LSR in the Healthcare Sector

According to a new report by EMR titled, ‘Global Liquid Silicone Rubber Market Report and Forecast 2021-2026’, the market reached a value of around USD 2.3 billion in 2020. It is expected to witness a healthy growth in the forecast period, growing at a CAGR of 8% between 2021 and 2026 to attain USD 3.60 billion by 2026.

The global liquid silicone rubber industry is being driven by the heightened adoption of liquid silicone rubber in the healthcare sector. It is used in the manufacturing of medical devices such as respiratory masks, medical tubes, and catheters. This increased usage can be attributed to its favourable properties such as high biocompatibility, durability, good electrical conductivity, and transparent nature. Moreover, it is increasingly used in the industrial sector, mainly for sealing and bonding applications and is ideally used in refrigerators, HVAC, and plumbing.

The growing focus of the leading players in the development of liquid silicone rubber technology by applying advanced chemical solutions in order to strengthen its efficiency is expected to positively catalyse the industry growth in the forecast period. A press release issued by Dow Inc. (NYSE: DOW), dated March 2021, announced the launch of their new low-density liquid silicone rubber, which offers improved processing, performance, and recycling. This lightweight LSR is used in products with food contact and other applications, as its properties include lower viscosity, higher resilience, and sustained gravity-separation recycling operations.

Furthermore, Avantor Inc (NYSE: AVTR), in a press release dated June 2020, announced its successful acquisition of RIM Bio, a China-based manufacturer of single-use bioprocess bags and assemblies for biopharmaceutical manufacturing applications, to expand its bioproduction capabilities in China. This would help Avantor to strengthen its bioprocessing manufacturing abilities to meet the global demands for single-use solutions. These developments are expected to significantly contribute to the growth of the liquid silicone rubber industry in the forecast period.

Market Breakup by Grade, Application, and Region:

  • The market is divided based on grade into food grade, medical grade, and industrial grade. 
  • On the basis of application, the market can be distributed into medical, automotive, consumer goods, electronics and electrical, and others. 
  • Region-wise, the global market for liquid silicone rubber can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The heightened demand for medical grade silicone is driving the global market for liquid silicone rubber.
  • The rapid adoption of liquid silicone rubber in various industry verticals has significantly contributed to the market expansion. 
  • Increased investments in the healthcare sector and R&D activities by the key players globally are also aiding the industry growth. 
  • The rising technological developments are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for liquid silicone rubber for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the grades, applications, and major regions of liquid silicone rubber.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global liquid silicone rubber market are Shin-Etsu Chemical Co, Ltd, KCC Corporation, Dow Inc, Wacker Chemie AG, Momentive Performance Materials Inc, Jiangsu Tianchen New Materials Co. Ltd, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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