C: Roy / Senior Sales
A:Shangnan Industrial Park, Fusha Town, Zhongshan City, Guangdong Province, China
According to Stratistics MRC, the Global Liquid Silicone Rubber Market is valued at $1.5 billion in 2015 and is expected to reach $3.6 billion by 2022 growing at a CAGR of 9.5% from 2015 to 2022. Liquid silicone rubber (LSR) is a high purity platinum-cure silicone. It is highly favourable for injection molding due to its excellent liquidity. Since it simply fits in the most complex parts of any mold, it is also very ideal for complex molds. They possess various favourable features such as, having heat resistance, being chemically inert, biocompatible, and easy to mold. The rise in aging population is resulting in increase in demand for LSR products in the healthcare industry leading to market growth. The rising demand from the electrical & electronics industry is also fostering the market growth. This is leading to an increase in the number of new product launches and expansions by companies. However strict regulation policies are hindering the market growth.
The medical grade is the fastest growing segment owing to the growing adoption of LSR products in the healthcare industry. The utilization of medical grade LSRs needs the compliance of various specifications and regulations for use in medical products. Hence they are expensive than the other grades of LSRs. Thus during the forecast period this grade is anticipated to be the largest in terms of value. North America accounted for largest share in the global market. The increasing demand for LSRs in various applications including medical, electrical & electronics, automotive and consumer goods etc, are responsible for this growth.
Some of the key players in the market include Dow Corning, Accurate Products, BlueStar Xinghuo, Dongguan New Orient Technology, Guangdong Polysil, Innovative Silicones, Jiangsu Tianchen, KCC Corporation, Laur Silicone, Mesgo S.P.A, Momentive Performance Materials Inc, Nusil Technology LLC, Reiss Manufacturing Inc, Shenzhen SQUARE Silicone, Shin-Etsu Chemical Co., Ltd, Simtec Silicone Parts, LLC, Stockwell Elastomerics Inc, Tianci Materials, Wacker Chemicals and Wynca.