Liquid Silicone Rubber Global Market Report 2022: Sector to Reach $3.6 Billion by 2027 at a CAGR of 8.55%

The global liquid silicone rubber market size reached US$ 2.2 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 3.6 Billion by 2027, exhibiting a CAGR of 8.55% during 2021-2027.

Companies Mentioned

Avantor Inc.

Elkem ASA (China National Chemical Corporation)

Jiangsu Tianchen New Materials Co. Ltd

Momentive Performance Materials Inc.

Reiss Manufacturing Inc.

Shin-Etsu Chemical Co. Ltd.

Simtec Silicone Parts LLC (The Rico Group)

Stockwell Elastomerics Inc.

The Dow Chemical Company

Wacker Chemie AG

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Liquid silicone rubber (LSR) is a dense, durable, and high resistant elastomer made using an injection molding method that provides ease of processing, part consistency, and better productivity. It offers excellent weatherability, chemical stability, heat and abrasion resistance, and electrical insulation properties as compared to organic rubber.

Moreover, it has a high tear and tensile strength and good elongation, flexibility, hardness, and transparency. It can also withstand extreme temperature and harsh environmental conditions like wind, rain, and ultraviolet (UV) rays. As a result, it is widely utilized in the production of industrial tools that require high strength, resistance, and quality.

LSR can be sterilized using steam autoclaving, ethylene oxide (ETO), gamma, and e-beam techniques, which makes it suitable to produce medical equipment, such as organ parts or prostheses, that meet stringent safety requirements.

This, in confluence with a significant increase in the number of organ failure cases on account of the rising geriatric population and the growing prevalence of chronic diseases, represents one of the key factors creating a positive outlook for the market. This can also be attributed to the considerable need for minimizing the risk of contamination and enhancing the safety of medical devices. Additionally, it is extensively employed in the automotive industry to manufacture small and complex elastomeric parts at high speed and optimum productivity.

This, coupled with the boosting sales of vehicles worldwide, is contributing to the market growth. Furthermore, LSR is gaining traction in industries, such as aerospace, construction, electronics, and food and beverage (F&B), as adhesives, sealants, potting, coatings, lubricants, and encapsulating compounds. Apart from this, the emerging trend of industrial automation, coupled with the rising demand for precision manufacturing, is projected to fuel the market growth.

Read more at Crision PR Newswire

Reference : Crision PR Newswire