Market Introduction –
Liquid silicone rubber (LSR) is a pure platinum-cured silicone elastomer. Market Research Future (MRFR) has published and released a research report about the global liquid silicone rubber market that predicts growth for this market during the forecast period between 2016 and 2023.
The primary factors and trends enhancing the growth of the global liquid silicone rubber market include growing the demand for LSR in equipment and surgical tools required for the treatment of the rising geriatric population. Electronic industry is rising due to extensive research and development in innovating material technology. The rise of the electronic industry will also aid the growth of global LSR market. Growing markets of some products whose manufacturing requires LSR can also aid the growth of LSR market. Other factors benefitting the LSR market growth include changing the standard of living, demand for electronics and consumer goods, easy compatibility of products, and rapid urbanization.
Key Players
The key players in the global liquid silicone rubber market include Dow Corning Corporation (USA), Elkem Group (China), KCC Corporation (South Korea), Momentive Performance Materials Inc. (USA), Reiss Manufacturing Inc. (USA), Shin-Etsu Chemical Co., Ltd. (Japan), Simtec Silicone Parts, LLC (USA), Stockwell Elastomerics Inc. (USA), Wacker Chemie AG (Germany), and Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China)
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Latest Industry News
- German chemical company, Wacker Chemie, will soon expand its ACEO 3D printing services for silicone rubber by opening a US-based printing lab later this year. The facility is the company’s first regional 3D printing lab outside of Germany. It will be located at Wacker’s R&D center for silicones in Ann Arbor, Michigan. 20 SEP 2018
- A group of South Korean companies has signed an agreement to acquire MPM Holdings Inc., the parent company of Momentive, the global silicones supplier, for about the US $3.1 bn. The 9 businesses run by Momentive include ceramics, coatings, electronics, elastomers (heat cured rubber and custom compounds and liquid silicone rubber), sealants, silanes (including those for tire and rubber), specialty fluids, quartz, and urethane additives. 15 SEP 2018
Segments:
The global liquid silicone rubber market has been segmented on the basis of application, grade, and lastly, region. The application-based segmentation of this market segments the market into automotive, consumer goods, electrical & electronics, medical and others. Based on grade, the market has been segmented into food, industrial, and medical.
Regions:
Latin America has anticipated witnessing higher growth in the market during the forecast period due to increasing demand for liquid silicone rubber in many segments mentioned in the report. The significant country-specific markets in this region are Argentina, Brazil, and Mexico, followed by the rest of Latin America. After North America, Europe is the third largest market for LSR. The MEA region has been estimated to witness remarkable growth in the market due to factors that include growing adoption of liquid silicone rubber in consumer goods and healthcare industries. The key country-specific markets in this region are Bahrain, Turkey, Israel, Qatar, Kuwait, Oman, North Africa, Saudi Arabia, and United Arab Emirates (UAE), followed by the rest of MEA region.
The report projects Europe to witness higher growth rate during the forecast period due to technological advancement to manufacture LSR in end-use industries. In this region, the growth of the market has been attributed to the growing demand for lightweight material in the automobile industry and growing mergers & acquisitions among the leading companies. These country-based markets that benefit most from these factors are France, Germany, Italy, Poland, Russia, and the United Kingdom (UK), followed by the rest of Europe.
The report predicts significant growth for North America during the forecast period. The major factors enhancing the market growth in this region include growing application of LSR in the electronic industry, installation of huge research and development (R & D) facility, rising expenditure on medical devices, and technological advancement in medical devices. Many key players in the North American, as well as global market, are based in the United States of America (USA), the strongest economy in this region. Another important country-specific market in this region is Canada.
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Geographical Analysis
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Intended Audience
- Liquid silicone rubber market manufacturers
- Traders and Distributors of Liquid silicone rubber market
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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