The liquid silicone rubber market is expected to hold a valuation of USD 6.9 billion in 2023. The market is expected to witness a 3.9% from 2023 to 2033. By 2033, the value is expected to cross USD 10.1 billion.
The liquid silicone rubbers are equipped with the ability to perform under a wide range of temperatures, ranging from -50 0C to 165 0C. Owing to this, these are majorly used in the aviation industry. Furthermore, these also display excellent resistance to chemicals. Thus, they find application in procedures in the medical sector, including ENT, heart surgery, etc.
Liquid silicone rubber is witnessing massive demand in the automobile and automotive sectors as well. The ability to provide a superior compression set and to act as a gloss enhancer is expected to surge their application. The silicone rubbers also work as a dampening medium for the instruments in vehicles. The significant surge in demand for electric vehicles represents massive scope for the market. These are being used in power transmission equipment owing to their heat stability.
Surging electronics sector presents lucrative opportunities for the market. Silicone is believed to be the heart of the electronics industry as it assists in encapsulating a bulky circuit into a miniaturized system. The liquid silicone rubbers protect the electronic circuits from shock, heat, and various forms of contaminants. These are also employed in critical electronic components like transistors, capacitors, and tubes in electronic devices.
The injection moulding market also makes use of liquid silicone rubbers. This can be attributed to the fact that these silicone rubbers offer high shelf life and provide electrical resistance as well.
Thus, the FMI researchers are of the opinion that the ability to work under extreme conditions, coupled with electrical resistance offered, growth of the electronics sector and a number of other factors, are expected to surge the liquid silicone rubber market growth during the forecast period.
Driving Innovation: The Surge of Liquid Silicone Rubber in the Automotive Industry
Liquid silicone rubber (LSR) is rapidly becoming a game-changer in the automotive industry, thanks to its exceptional properties that cater to diverse applications. Known for its high durability, flexibility, and resistance to extreme temperatures, LSR is ideal for manufacturing critical components such as gaskets, seals, and hoses. As the automotive sector increasingly emphasizes lightweight materials and energy efficiency, LSR stands out as a preferred choice, providing manufacturers with the ability to reduce weight without compromising performance. Moreover, its excellent chemical resistance makes it suitable for modern vehicles equipped with advanced technology, further solidifying its role in the industry’s evolution.
A Future on Wheels: The Expanding Role of Liquid Silicone Rubber
The growing trend towards electric vehicles (EVs) and autonomous driving systems is propelling the demand for liquid silicone rubber even further. With the automotive industry leaning into innovative design and smart technology, LSR offers unmatched versatility, enabling the production of intricate shapes and components that enhance both functionality and aesthetics. Additionally, its ability to withstand harsh environmental conditions ensures longevity and reliability in critical applications. As automakers continue to invest in sustainable and high-performance materials, the market for LSR is poised for significant growth, making it an essential material in the next generation of vehicles.
Key Takeaways:
- The market is projected to be valued at US$ 6.9 billion in 2023.
- By 2033, the valuation is expected to cross US$ 10.1 billion.
- The CAGR during the forecast period is predicted to be 3.9%.
- Based on the regional analysis, North America is anticipated to be the dominant market.
- The United States market is projected to grow at 3.6%.
- The United Kingdom market is estimated to surge at 3.4%.
- China market is forecasted to advance at 3.6%.
- Japan liquid silicone rubber market is expected to surge at 4.5%.
- India market is projected to record 4.3%.
- On the basis of grade type, the industrial grade segment is expected to hold the prominent market share and is expected to register a CAGR of 4%.
- On the basis of technology, the liquid injection molding system segment is anticipated to hold a significant market share and is projected to record a CAGR of 3.5%.
Contact Our Sales Team Now to Discuss How You Can Acquire This Report and Gain Valuable Insights for Your Business.
Competitive Landscape:
The key players operating in the liquid silicone rubber market are expected to form strategic partnerships with players from other niches, especially those from the electronics and automobile sector. There is also a lot of emphasis being laid on the process of mergers and acquisitions. The players who are entering into new markets are focusing on inorganic growth, as the local players would be well-versed with demographic tastes. Furthermore, huge amounts are being invested in technological upgradation with a view to reducing waste accumulation.
In November 2022, Dow selected AB Specialty Silicones as the authorized distributor for elastomeric roof coating market in the United States and Canada.
Dominant players in the market
- Dow
- Momentive Performance Materials, Inc.
- Evonik Industries AG
- Bluestar Silicones International
- SiVance
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
