Liquid silicone rubber market forecast at $10 billion by 2033

Pune, India – The liquid silicone rubber market is expected to hold a valuation of US$ 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 US$ 10.1 billion according to Future Market Insights.

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.