Global liquid silicone rubber market forecast $7.8 billion by 2026
Pune, India – The global liquid silicone rubber market size is expected to reach US$ 7.88 Bn through 2026, exhibiting growth at 4.6% CAGR during the forecast period 2022-2026 according to Future Market Insight (FMI).
Liquid silicone rubber is two part platinum–cured elastomer material, which can be injected into any mold or cavity to manufacture parts and components. These rubbers are highly resistant to heat & cold and have excellent durability & optical transparency.
As per FMI, the consumer goods industry is estimated to register rapid growth in the market, creating an absolute dollar opportunity of US$ 1.76 Bn by the end of 2026. On the basis of region, Asia Pacific excluding Japan is estimated to emerge as the dominant market, accounting for over 34.9% of the liquid silicone rubber sales by 2022.
Future Market Insights anticipates an examination of the dynamics and industry trends for estimating the growth of liquid silicone rubber market. The market is expected to develop as a result of the widespread use of liquid silicone rubber in sectors including construction, automotive, healthcare, and consumer products, among others.
Further the market is projected to increase owing to growing use of liquid silicone rubber, which has the added benefit of enabling precision manufacturing.
Expansion of production capacity at both local and global levels is one of key industry trends currently being observed, and it is projected to have an impact on the market growth throughout the forecast period. In addition to this, key players are aiming at launching new & advanced products to expand their product portfolio.
According to FMI analysis, the variation between the BPS values observed in the liquid silicone rubber market in first half, 2022 estimated over H1, 2022 earlier projections reflects a spike of 10 units. However, compared to first half 2021, the market is expected to witness downfall of 20 BPS.
This change of the market is attributed to the stringent regulations imposed by government in medical field for the usage of this material in medical devices, implants & others. Further supply shortage owing to growing geopolitical tensions in first half of 2022 results in lower growth outlook as compare to first half 2021.
However, market is anticipated to witness lucrative growth opportunities in electronics segment owing to the increasing demand for smartphones, headsets and other gadgets, where liquid silicone rubber is being used due to its high durability, soft attributes & cost-effectiveness.
2012-2021 Liquid Silicone Rubber Market Outlook in Comparison to 2022-2026 Growth Forecast The demand in the global liquid silicone rubber market grew at 4.2% CAGR between 2022 and 2026.
Liquid silicone rubber is two part platinum–cured elastomer material, which can be injected into any mold or cavity to manufacture parts and components. These rubbers are highly resistant to heat & cold and have excellent durability & optical transparency.