Liquid Silicone Rubber Market, Covid-19 Outbreak, Segmentation, Scenario, Regional Analysis, Key Players and Forecast to 2023

Market Scenario:

The medical grade is the most widely used grade in the global liquid silicone rubber market. High dielectric strength, bacterial resistance, and temperature resistance makes LSR an ideal choice for manufacturing medical devices, accessories and fittings in the healthcare industry. Moreover, growing stern regulations and compliances of many specification for use in medical products are further projected to drive the overall market growth. In addition, replacement of latex with LSR in impactable devices are providing new opportunities to market players.

Industrial rubber segment occupied second leading segment owing to growing electrical & electronic industry along with rising aerospace and construction industry. LSR has ability to withstand high temperature and good flexibility enables the material for usage in keypads, antennas and electronic displays.

Market Segmentation:

The global liquid silicone rubber market is segregated into the grade and application. On the basis of the grade, the market is further categorized into industrial, food and medical segments. On the basis of the application, the market is segmented into automotive, electrical & electronics, consumer goods and medical.

Regional Analysis:

Global Liquid Silicone Rubber Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is projected to witnessed strong growth in global market and is anticipated to continue its dominance due to rising demand for liquid silicon rubber in various applications such as electronic and consumer goods. Countries such as China, Japan and India are the major players in this region. The North America region is estimated to witness a higher growth due to rapid technology advancement in material along with supporting government policies in healthcare industry. U.S. is leading country owing to increasing demand for durable and lightweight LSR material in automotive, construction, aviation, electrical & electronics, and others. The representation of new rules and regulations set by the European Union has driven the manufacturers to use efficient and low emission materials in the end-use industries. Moreover, it is projected that the advancing research & development of liquid silicone rubber in the market has propelled this region to witness a significant growth in Germany, the U.K and Italy. The Middle East & Africa is estimated to observe a significant growth due to increasing consumption of low density materials in aerospace, construction, medical, and others.

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Key Players

Some of the prominent players operating in the global liquid silicone rubber market are Wacker Chemie AG (Germany), Dow Corning Corporation (U.S.), Momentive Performance Materials Inc. (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), KCC Corporation (South Korea), Elkem Group (China), Simtec Silicone Parts, LLC (U.S.), Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China), Stockwell Elastomerics Inc. (U.S.) and Reiss Manufacturing Inc. (U.S.) among others.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.