Global market for medical grade silicone forecast at $1.7 billion by 2026

San Francisco, CA – A new market study published by Global Industry Analysts released its report titled “Medical Grade Silicone – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Players covered include 3M Company; Albright Technologies; Bioplexus; Donatelle; Elkem Silicones; Finesse Medical Ltd.; Flexan, LLC; Henkel AG & Co. KGaA; Kibaru Manufacturing Sdn Bhd; Momentive Performance Materials, Inc.; NuSil Technology LLC; Polymer Science, Inc.; Primasil Silicones Limited; Royal DSM NV; Saint-Gobain Performance Plastics Corporation; Shenzhen Kanglibang Science and Technology Co., Ltd.; Shin-Etsu Chemical Co., Ltd.; SIMTEC Silicone Parts, LLC.; Stockwell Elastomerics, Inc.; Vesta Inc.; Wacker Chemie AG; Wynca Group; Zodiac Coating and Others.

Amid the COVID-19 crisis, the global market for Medical Grade Silicone estimated at US$1.3 Billion in the year 2020, is projected to reach a revised size of US$1.7 Billion by 2026, growing at a CAGR of 4.7% over the analysis period. Gels, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach US$849.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Medical Adhesives segment is readjusted to a revised 5.1% CAGR for the next 7-year period.

The Medical Grade Silicone market in the U.S. is estimated at US$408.2 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$306.4 Million by the year 2026 trailing a CAGR of 4.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.

In the global Medical Coatings segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$150.9 Million in the year 2020 will reach a projected size of US$223.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets