High Demand for Industrial Grade Liquid Silicone Rubber to Drive Market Growth through 2026: FMI Forecast
Valley Cottage, NY -- (SBWIRE) -- 10/12/2018 -- As molding processes gain grounds in the manufacturing sector, injection materials such as liquid silicone rubber are witnessing a sharp increase in terms of demand. Versatile characteristics and unique properties of liquid silicone rubber is driving its value in the elastomer industry, wherein a wide spectrum of consumer products, medical devices and industrial goods are being manufactured by injecting liquid silicone rubber into mold cavities. Future Market Insights estimates that by the end of 2026, the global market for liquid silicone rubber will touch a valuation of US$ 7.9 billion.
The study foresees a moderate growth for the expansion of global liquid silicone rubber market during the period, 2017-2026. It has been estimated that the global liquid silicone rubber market will register a value CAGR of 4.5% over the forecast period. High carbon footprint of producing liquid silicone rubber at large scale, limitations to the reuse and recyclability of such elastomers and disposability challenges are set to deter the use of liquid silicone rubbers in the near future.
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Industrial Grade Liquid Silicone Rubber to Reflect Global Market Value Share of 45% through 2026
Molding capabilities of liquid silicone rubbers will drive their use across several industrial applications. It has been observed that industrial grade liquid silicone rubber will showcase robust growth in demand in the coming years. Through 2026, nearly half of the global liquid silicone rubber market value will be accounted by sales of industrial grade elastomers. The report also foresees that liquid injection molding technology will be a sought-after in the global liquid silicone rubber market. In 2017, more than US$ 3.2 billion worth of liquid silicone rubbers will be used by liquid injection molding systems across the globe.
Lucrative End-use Industries for Liquid Silicone Rubbers
The study has identified key industries that will drive the end-use of liquid silicone rubber in the near future. Consumer goods industry will reflect highest profitability in the end-use of liquid silicone rubber for manufacturing fast-selling products such as buttons and rubber gaskets. By the end of 2026, US$ 1.76 billion worth of liquid silicone rubber will be used in the production of consumer goods worldwide. Furthermore, healthcare landscape will also exhibit fast-growing end-use of liquid silicone rubber over the forecast period. Liquid silicone rubber manufacturers will find lucrative profit margins will selling these elastomers in the production of expensive medical devices such as lung catheters. The report also observes the automotive industry as a lucrative end-user of liquid silicone rubbers. Over the forecast period, automotive end-use of liquid silicone rubber will reflect highest value CAGR of 5.4% in the global market.
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Liquid Silicone Rubber Manufacturing to Remain Concentered in Asia
China National Chemical Corporation, Shin-Etsu Chemical Co., Ltd., KCC Corporation, Toshiba Medical Systems Corporation, and Zhejiang Xinan Chemical Industrial Group Co., Ltd. are among the prominent manufacturers of liquid silicon rubber based in Japan, China, Korea and other parts of the Asia-Pacific region. The report estimates that in 2018 and beyond, the Asia-Pacific excluding Japan (APEJ) region will represent largest marketplace for liquid silicone rubber, reflecting a weighted 35% share on global market value. Other key players in the global liquid silicone rubber market, namely Dow Corning Corporation, Momentive Performance Materials, Inc., Evonik Industries AG, Bluestar Silicones International, SiVance, LLC, NuSil Technology LLC, Simtec Silicone Parts, LLC, Wacker Chemie AG, Stockwell Elastomerics Inc., and Xinapse Systems Ltd. are also expected to bolster their presence across the APEJ region in the foreseeable future.