Global Liquid Silicone Rubber (LSR) Market by Type, End-User Industry and Geography - Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 27, 2018--The “Global Liquid Silicone Rubber (LSR) Market - Segmented by Type, End-User Industry, and Geography - Growth, Trends, and Forecast (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.
The market for liquid silicone rubber is expected to register a significant growth during the forecast period 2018 to 2023.
Major factors such as increasing application of liquid silicone rubber in the medical industry, and rising demand of liquid silicone rubber from the automotive industry are expected to drive the liquid silicone rubber market during the forecast period.
Rising Demand from the Automotive Industry Expected to Drive the Market
Liquid silicone rubber (LSR) owing to its resistivity towards heat and cold, weatherability, high tear strength, water repellency, defoaming properties, adhesiveness, releasability and dielectric properties are increasingly used in automotive manufacturing and are increasingly becoming a crucial component in the evolution of automotive technology.
Automotive production has been increasingly steadily through the years, primarily in most European and Asia-Pacific regions. Such positive growth is expected to drive the market for liquid silicone rubber in automotive industry through the forecast period.
Medical - The Fastest End-User Industry Segment
Liquid silicone rubber (LSR) owing to its stability, ability to withstand high levels of heat and exposure to cleaning and disinfecting chemicals, heat resistivity (making it suitable for heat-related treatment applications such as cauterization), and its feature to not turn brittle under cold conditions, makes it an appropriate choice for its use in medical applications.
Additionally, almost all grades of liquid silicone rubber available in the market at present are biocompatible and are specifically developed and approved for medical implants and similar medical applications. Moreover, liquid silicone rubber owing to its fast curing technology is widely used in medical devices.
North America to Dominate the Liquid Silicone Rubber Market
North America accounted for the largest market for liquid silicone rubber in 2017. The consumer products market, which is the major consumer of liquid silicone rubber, is rising rapidly in the United States owing to growing purchasing power among consumers, expanding disposable income, and rising population.
Additionally, growing usage of liquid silicone rubber in medical, electronics, and automotive industries, coupled with the growth of these industries in United States is expected to drive the market through the forecast period.
Key Topics Covered
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Competitive Landscape
8. Company ProfilesDow Corning (DowDuPont) Wacker Chemie AG Shin-Etsu Chemical Co. Ltd. KCC Corporation China National Bluestar (Group) Co. Ltd. Laur Silicone Inc. SIMTEC Silicone Parts LLC Wynca Group Jiangsu Tianchen New Materials Co. Ltd. Nusil Technology LLC Stockwell Elastomerics Inc. Innovative Silicones Applied Silicone Corporation
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS NATURAL RESOURCES FOREST PRODUCTS AUTOMOTIVE TIRES & RUBBER
SOURCE: Research and Markets
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PUB: 09/27/2018 09:03 AM/DISC: 09/27/2018 09:03 AM