The latest market report published by Acute Market Reports “Liquid Silicone Rubber Market: Growth, Future Prospects, and Competitive Analysis, 2023 - 2030” the global market is worth US$ 2.30 Bn in 2021 and expected to reach US$ 3.8 Bn in 2030, growing with a CAGR of 7.1% from 2023 to 2030.

"ADAS & 3D printing driving the demand for 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. The 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 the 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 2023, 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.

Browse the full report at https://www.acutemarketreports.com/report/liquid-silicone-rubber-market

The overall liquid silicone rubber market is competitive in nature and it is growing at a moderate rate. The market players are adopting strategies for 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 2023, Dow introduced its new high-performance LSR SILASTIC™ LTC 9400 Series, providing greater design freedom and process efficiency. This new low-temperature cure LSR applicable in a range of industries such as automotive, electronics, and consumers. With this new product launch, the company is expecting to capture a major share of the market.

• In July 2023, 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 expects an increase in its market share. 

Key Market Movements:

• The global liquid silicone rubber market estimated to grow with a CAGR of 7.1% from 2023 to 2030. 

• Base on grade, the 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 the growth of driverless cars and 3D printing technology. 

• Based on end-use, the 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 the global liquid silicone rubber market in 2021. 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

The Global Liquid Silicone Rubber Market is Segmented into:

*Complete segmentation list is on a report page