Liquid Silicone Rubber Market Demand and Growth 2022, 2028

Liquid Silicone Rubber Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Grade (Food, Medical, and Industrial) and End User (Healthcare, Automotive, Consumer Goods, Electricals and Electronics, and Others)

  • Report Code : TIPRE00029528
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 177
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The liquid silicone rubber market was valued at US$ 1,249.3 million in 2022 and is projected to reach US$ 1,877.1 million by 2028; it is expected to grow at a CAGR of 7.0% from 2022 to 2028.

Liquid silicone rubber is a high-purity, two-component platinum-cured silicone. It is ideally formulated for the production of technical parts, which require superior strength, resistance, and quality. It is a viscous and pumpable material, and is mostly processed through liquid injection molding (LIM). Liquid silicone rubber is highly biocompatible and durable, and hence, ensures long-term stability and chemical resistance.

In 2021, Asia Pacific held the largest share of the global liquid silicone rubber market . The market in this region is further segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific.  The liquid silicone rubber production capacity of these countries is expected to increase in the coming years due to heavy investments from various manufacturers and a rise in government initiatives to support the production of different types of liquid silicone rubber. Further, the need for specialty components has been increasing with the growing trends of electrification and autonomy of vehicles in the region.

China is one of the major producers of electronics products. Liquid silicone rubbers are extensively used in the electronics industry. Superior longevity, UV resistance, temperature resistance, mechanical properties, and flexibility are the prime attributes of this rubber, which are encouraging manufacturers to use these materials in the manufacturing of different electronics components.

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Liquid Silicone Rubber Market: Strategic Insights

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Impact of COVID-19 Pandemic on Liquid Silicone Rubber Market

The liquid silicone rubber market before the COVID-19 pandemic was mainly driven by increasing their use in various industries such as automotive, consumer goods, electrical & electronics, and healthcare. The liquid silicone rubber is used in automotive components, such as seals, gaskets, among others. In healthcare industry, it is used in making of medical devices and implants. However, in 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic caused supply chain disruptions in key raw materials and disturbed manufacturing processes due to restrictions imposed by government authorities in various countries. During the COVID-19 crisis, the automotive production across the globe has declined which has negatively impacted the liquid silicone rubber market growth.

The demand for liquid silicone rubber began increasing for different applications with the resumption of economies in various countries in 2021.  Furthermore, relaxation in restrictions imposed in 2020 paved the way for the resurgence of automotive production activities in emerging economies of Asia Pacific, thereby boosting the demand for liquid silicone rubber.

Market Insights

Proliferation of Global Automotive Sector

In the last decade, the automotive sector has witnessed tremendous growth and is expected to rise steadily during the forecast period. According to the data of Organisation Internationale des Constructeurs d'Automobiles (OICA), the number of commercial and passenger cars produced in American countries increased from ~16.2 million to ~20 million from 2010 to 2019, at a rate of more than 23%. In China, the automotive industry has been growing rapidly and the country is playing an increasingly important role in the global automotive market.  Despite the adverse effects of the COVID-19 pandemic on this sector in 2020 and 2021 due to nationwide lockdowns, trade and travel restrictions, and decreased investments, it is experiencing a resurgence from FY 2022–2023.

Various companies operating in the automotive market are investing heavily in the automobile manufacturing sector to increase production capacities and sales. With the rise in automotive production and sales, the demand of liquid silicone rubber is growing significantly. In automotive industry, the liquid silicone rubbers are used in diverse range of application such as, in tire additives, engine gaskets, navigation display, foam padding and many other applications.  In addition, newer applications of liquid silicone rubber are consistently being developed for the automotive industry. Thus, the rising demand for liquid silicon rubber from the automotive industry is driving the liquid silicone rubber market growth.

Grade Insights

Based on grade, the liquid silicone rubber market has been segmented into food, medical, and industrial. The medical segment accounted for the largest market share in 2021. Medical-grade liquid silicone rubber is used in the manufacturing of medical devices and equipment. The medical-grade liquid silicone rubber is non-allergenic. In addition, its hydrophobicity contributes to its ability to resist the growth of bacteria and fungi. These properties of medical-grade liquid silicone rubber fuel their demand in the in the healthcare sector.

Avantor, Inc.; Beacon Medtech Solutions; Dow Inc.; MOMENTIVE; Wacker Chemie AG; CHT Germany GmbH; Elkem Asa; KCC Silicone Corporation; Shin Etsu Chemical Co. Ltd.; and Stockwell Elastometrics Inc. are among the major players operating in the liquid silicone rubber market. The market players are focusing on investing significant resources in research and development activities for providing high-quality products to meet the customer demands. They are also focused on the expansion of their production capacities and geographic presence.

Liquid Silicone Rubber Market Regional Insights

The regional trends and factors influencing the Liquid Silicone Rubber Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Liquid Silicone Rubber Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

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Liquid Silicone Rubber Market Market Report Scope

Report Attribute Details
Market size in 2022 US$ 1.25 Billion
Market Size by 2028 US$ 1.88 Billion
Global CAGR (2022 - 2028) 7.0%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Grade
  • Food
  • Medical
  • Industrial
By End User
  • Healthcare
  • Automotive
  • Consumer Goods
  • Electricals and Electronics
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Avantor, Inc.
  • Beacon Medtech Solutions
  • CHT Germany GmbH
  • Dow
  • Elkem ASA
  • KCC Silicone Corporation
  • Momentive
  • Shin-Etsu Chemical Co., Ltd.
  • Stockwell Elastomerics, Inc.
  • Market Players Density: Understanding Its Impact on Business Dynamics

    The Liquid Silicone Rubber Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Liquid Silicone Rubber Market are:

    1. Avantor, Inc.
    2. Beacon Medtech Solutions
    3. CHT Germany GmbH
    4. Dow
    5. Elkem ASA

    Disclaimer: The companies listed above are not ranked in any particular order.


    liquid-silicone-rubber-market-speedometer

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    Report Spotlights

    • Progressive industry trends in the liquid silicone rubber market to help players develop effective long-term strategies
    • Business growth strategies adopted by the market players to secure growth in developed and developing markets
    • Quantitative analysis of the liquid silicone rubber market from 2020 to 2028
    • Estimation of global demand for liquid silicone rubber
    • Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
    • Recent developments to understand the competitive market scenario
    • Market trends and outlook, and factors driving and restraining the liquid silicone rubber market growth
    • Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the liquid silicone rubber market growth
    • The liquid silicone rubber market size at various nodes
    • Detailed market overview, along with segmentation, and the liquid silicone rubber industry dynamics
    • The liquid silicone rubber market size in various regions with promising growth opportunities

    Company Profiles

    • Avantor, Inc.
    • Beacon Medtech Solutions
    • Dow Inc.
    • MOMENTIVE
    • Wacker Chemie AG
    • CHT Germany GmbH
    • Elkem Asa
    • KCC Silicone Corporation
    • Shin Etsu Chemical Co. Ltd.
    • Stockwell Elastometrics Inc.
    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset
    Report Coverage

    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered

    Segment Covered

    Grade, and End User

    Regional Scope

    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope

    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    Which region held the fastest CAGR in the global liquid silicone rubber market?

    Asia Pacific is estimated to register the fastest CAGR in the global liquid silicone rubber market over the forecast period. Due to heavy investments from various manufacturers and the rise in government initiatives to support the production of different types of liquid silicone rubber, the production capacity of the region is expected to increase in the coming years. As the mobility industry has been increasingly inclining towards electrification and autonomy of vehicles in the region, the need for specialty components has been increasing. Hence, the global leaders are taking initiatives and focusing on expansion strategies. For instance, on 24th November 2021, Dätwyler Holding Inc.- a European leader in specialty elastomers has expanded their production of liquid silicone rubber components in Wuxi, China. Moreover, the growing product development and industrialization and wide application in end-use industries such as building & constriction, manufacturing, automotive, and healthcare especially in developing countries in the region are the major factors attributed to the growth of the liquid silicone rubber market.

    Based on end-use, which segment is among the second leading segment in the global liquid silicone rubber market during the forecast period?

    The healthcare segment held the second largest share of the market in 2022. Liquid silicone rubber is widely used in the healthcare sector to manufacture medical devices and equipment. Medica-grade liquid silicone rubber is flexible, sterilized, and biocompatible. The developed process of curing removes potentially harmful plasticizers making it an ideal material for medical applications such as manufacturing rubber washers, hose washers, gaskets, bushings, tubing and cord. Medical-grade liquid silicone rubber is mostly found in tubing, defoamers, and adhesives. It is available in several grades such as FDA grade, Class VI Grade, and Platinum Cure Grade, and this allows for greater flexibility when choosing an appropriate product.

    Based on end-use, which segment is leading the global liquid silicone rubber market during the forecast period?

    The automotive segment held the largest market share. In the automotive industry, industrial-grade liquid silicone rubber offers excellent solutions in the form of moulded components. It is used in the manufacturing of headlights, sealants, LED diffusers, spark-plug boots, and ignition components. Due to the product's outstanding thermal stability, superior compression set, resistance to oxidation, and clarity, it is frequently employed in automotive applications. The emerging electrification of vehicles, automation, and autonomous technology requirement in the automotive industry driving the demand for industrial-grade liquid silicone rubber market.

    Can you list some of the major players operating in the global liquid silicone rubber market?

    The major players operating in the global liquid silicone rubber market are Avantor, Inc.; Beacon Medtech Solutions; CHT Germany GmbH; Dow; Elkem ASA; KCC Silicone Corporation; Momentive; Shin-Etsu Chemical Co., Ltd.; Stockwell Elastomerics, Inc.; Wacker Chemie AG.

    Which region held the largest share of the global liquid silicone rubber market?

    In 2022, Asia Pacific held the largest share of the global liquid silicone rubber market. The rise in the number of automotive productions in the region would cater the demand of liquid silicone rubber. The region is also flourishing owing to presence of manufacturing facilities and cheap labor. China is one of the largest producers of automotive due to abundance of resources and raw material.

    Based on grade, which segment is leading the global liquid silicone rubber market during the forecast period?

    The industrial segment held the largest market share. Industrial-grade liquid silicon rubber is highly versatile and widely applicable to industries such as electronics, aerospace, construction, automotive, and consumer products. In the electronics industry sealants and lubricants are widely used and purified liquid silicone rubber is extensively used by the manufacturers. The rising extensive research and development in the electronics industry are fueling the demand for industrial-grade liquid silicone rubber market. Liquid silicone rubber is used to manufacture spacesuit fabrics, seals, tooling materials, and gaskets in the aerospace and aircraft industry.

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    The List of Companies - Liquid Silicone Rubber Market

    1. Avantor, Inc.
    2. Beacon Medtech Solutions
    3. CHT Germany GmbH
    4. Dow
    5. Elkem ASA
    6. KCC Silicone Corporation
    7. Momentive
    8. Shin-Etsu Chemical Co., Ltd.
    9. Stockwell Elastomerics, Inc.
    10. Wacker Chemie AG