Dublin, Dec. 19, 2019 (GLOBE NEWSWIRE) — The “Liquid Silicone Rubber Market – Global Outlook and Forecast 2020-2025” report has been added to ResearchAndMarkets.com’s offering.
Global Liquid Silicone Rubber Market is Expected to Grow at a CAGR of Over 8% During the Period 2019-2025.
The automotive industry is expected to be a major end-user of LSR products. The concepts of micro molding and cleanroom molding and the dominance of liquid injection molding systems in the manufacturing industry are likely to emerge as the major contributing factors for market growth.
The APAC region is expected to dominate the market during the forecast as the region is witnessing the growth in manufacturing industries. The increasing dominance of IoT and AI and virtual reality is changing the landscape of the electronics industry as the demand for LSRs in advanced consumer durables is increasing. Further, the use in automotive LEDs and spare parts is influencing market growth.
The introduction of new MICROLIM molding machines, which are suitable for cleanroom and medical applications, is expected to drive the market substantially. As liquid injection molding processes produce less waste with short cycle time, the market is expected to witness growth during the forecast period. The market for liquid injection molding systems (LIMS) tends to increase due to their efficiency in producing components with modern foaming and thermoset overmolding. The 2K’ molding feature, which comprises multi-material, multi-color, and multi-durometer processing, is expected to be a vital growth factor for the utilization of LSR in the molding stage.
- Increased LIMS Technology in Manufacturing
- Growth in Micro Molding Process
- Advantage Over Organic Rubbers
- Superior Medical-Grade Requirements
- Side Effects of Liquid Silicone Exposure
- Complying with Strict Regulations
Opportunities and Trends
- Growth of Lightings and Sensors in Automobiles
- Increase in Cleanroom Molding
- Growth in 3D Printing
This research report includes detailed segmentation by grade, end-user, and geography.
Food grade liquid silicone rubbers are widely used for food preparation and storage. They are designed in such a way that they become hypoallergenic to consumers. They resist bacteria and microorganism growth, thereby increasing their application in the food and beverage industry. They are widely prescribed for kitchenware appliances, as these materials have a high thermal resistance. The APAC region holds maximum revenue in the liquid silicone rubber market due to rapidly growing end-user industries such as electrical, automotive, and baby care in China and India.
The automotive industry is witnessing a steady growth in the adoption of automation technology. The adoption of liquid silicone rubber as a cost-effective alternative to traditional rubbers is seen as a breakthrough for market growth. The increasing demand for lightweight materials in automobile manufacturing is likely to boost demand.
As LSRs offer consistency, stability, durability, quality, and cost-effectiveness, they are increasingly being used in the manufacturing of a range of syringe stoppers, flow control valves, connectors, caps, and device components. Hence, the growing application of these materials in the production of medical disposables is expected to emerge as a significant driver for the global liquid silicone rubber market.
The replacement of thermoplastic elastomers by liquid silicone rubber for the manufacturing of baby care products, infant goods, and other consumer durables is a significant boost for the baby care market growth. APAC has emerged as the strongest market for consumer and baby care products.
The global liquid silicone rubber market is greatly influenced by major industries such as automotive, electronics, and healthcare. The APAC region is the market leader due to the presence of several electronics and manufacturing sites that are making use of this material. The growing automotive industry in the US is a major driver for LSR market growth. Moreover, factors such as the growing economy, the increased industry growth rate, government regulations, improved private investments are driving the GDP of North American, which, in turn, is expected to support the growth.
Europe is led by Germany, a world leader in advanced vehicle production and modern innovative healthcare facilities. The penetration of e-vehicles in European countries has increased the demand for LSRs to be equipped with sensors and automotive safety electronics.
Key Vendor Analysis
The number of industries getting benefited from LSR is numerous. This has led to the expansion of a few manufacturing giants such as Dow Chemicals, Shin-Etsu Chemical, KCC Corp., Wacker Chemicals, and Elkem. With technology and innovation playing a major role in the market position, vendors are adopting LSRs in line with modern requirements. The entry barriers of the industry are generally based on government policies and regulations. With the abundance of silicone, the manufacturing cost is set to be limited.
The scope and benefits of LSR across industries can lead to the development of new local players across the regions, which might be a crucial factor in determining market sizing and revenue of major players. Vendors are also trying to expand their business through mergers and acquisitions. The agreement between South Korean companies and MPM Holdings Inc., for $3.1 billion, might help them penetrate their product lines and distribution channels.
- Dow Chemical
- Shin-Etsu Chemical
Other Prominent Vendors
- Reiss Manufacturing
- Wynca Tinyo Silicone
- Dongguan New Orient Technology Co. Ltd.
- Guangdong Polysil Co. Ltd.
- Shenzhen Square Silicone Co. Ltd.
- Laur Silicone
- Guangzhou Tinci Materials Technology Co. Ltd.
- JiangSu TianChen
- Nanjing SiSiB Silicones Co. Ltd.
- Mingcheng Group Limited
- Shenzhen Hong Ye Jie Technology Co. Ltd.
- Aspire Technology Co. Ltd
- Shenzhen Lianhuan Silicone Rubber
- Chemical Brothers
Key Market Insights
- The report provides the following insights into the global liquid silicone rubber market for the forecast period 2020-2025.
- Offers sizing and growth prospects of the liquid silicone rubber market for the forecast period 2020-2025.
- Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the liquid silicone rubber market.
- Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
- Delivers a complete overview of segments and the regional outlook of the market.
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain a competitive advantage in the liquid silicone rubber market.
For more information about this report visit https://www.researchandmarkets.com/r/5q3bkn
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