The latest market report published by Credence Research, Inc. “Liquid Silicone Rubber Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the global market is worth US$ 1.9 Bn in 2018 and expected to reach US$ 3.2 Bn in 2027, growing with a CAGR of 6.2% from 2019 to 2027.
Browse the full report at https://www.credenceresearch.com/report/liquid-silicone-rubber-market
“ADAS & 3D printing driving the demand of liquid silicone rubber”
Liquid silicone rubber (LSR) is widely used in the healthcare segment for manufacturing products such as a catheter, reservoir, seals, Plungers and gaskets, etc. among others. Heat & chemical resistant, biological inert LSR offers properties that are well-suited medical use. Increasing application of liquid silicone rubber in the end-use industries is driving its global market. Further, LSR is also contributing to the growth of automotive sector. LSR not only reduces cost, and increases the performance of vehicles is also contributing to the growth of driverless cars. In an advanced driver assistance system (ADAS), LSR offers an ideal combination of physical properties and processing of sealing, damping and protecting elements in ADAS. As the automobile industry is moving towards autonomous vehicles, the demand for LSR is expected to rise in the coming decade.
Furthermore, with the advancement in 3D printing technology, LSR 3D printing technology allows more complex shapes and sizes with a higher mechanical performance like that of molded LSR. For instance, in October 2019, Dow, in collaboration with Nexus Elastomer Systems and German RepRap successfully 3D printed colored parts with Nexus’s new color dosing system. This gives freedom to designers to print colored and transparent parts as per their imagination.
The overall liquid silicone rubber market is competitive in nature and it is growing at moderate rate. The market players are adopting strategies launching new products, merger & acquisition to stay competitive in the market. Some of the leading global players included in the reports are Sony, Google, Microsoft, Samsung, etc. among others.
Industrial Developments
In October 2019, Dow introduced its new high-performance LSR SILASTIC
In July 2019, Wacker Chemie AG introduced two new products of self-adhesive nature having a low coefficient of friction. ELASTOSIL® LR 3671 used for food technology applications and ELASTOSIL® LR 3675 for automotive applications. The company has also presented SILPURAN® 6760/50 for medical applications. With the launch of this new product, the company expecting an increase in its market share.
Key Market Movements:
The global liquid silicone rubber market estimated to grow with a CAGR of 6.2% from 2019 to 2027.
Base on grade, LSR market is segmented into food, medical and industrial. It is estimated that the industrial segment expected to capture the largest share during the forecast period, owing to growth of driverless cars and 3D printing technology.
Based on end-use, automotive segment expected to drive the major growth of the market during the forecast period.
Based on region, Asia pacific was the largest region of global liquid silicone rubber market in 2018. Subsequently, it is estimated that the region expected to grow at the fastest rate during the forecast period.
List of Companies Covered:
Dow
KCC Corporation
Simtec Silicone Parts, LLC
Nusil Technology LLC
Shin-Etsu Chemical Co., Ltd.
STOCKWELL ELASTOMERICS, INC.
Factor II, Inc.
Wacker Chemie AG
Momentive
Laur Silicone, Inc.
Guangdong Polysil Technology Co. Ltd.
and Others
Browse the full report at https://www.credenceresearch.com/report/liquid-silicone-rubber-market
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