Liquid Silicone Rubber Market Key Players and Forecast by 2028

Historic Data: 2020-2021 | Base Year: 2022 | Forecast Period: 2023-2028

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 Date : Aug 2022
Report Code : TIPRE00029528

Category : Chemicals and Materials
Status : Published

Available Report Formats :
No. of Pages : 177

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Page Updated: Jun 2024

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

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 The 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.

Liquid Silicone Rubber 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.

Liquid Silicone Rubber Market Players Density: Understanding Its Impact on Business Dynamics

The Liquid Silicone Rubber 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.

Get the Liquid Silicone Rubber Market top key players overview

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.

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, DÃ¤twyler 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.

Research Manager

Habi Ummer

Manager,
Market Research & Consulting

Habi is a seasoned Market Research Analyst with 8 years of experience specializing in the Chemicals and Materials sector, with additional expertise in the Food & Beverages and Consumer Goods industries. He is a Chemical Engineer from Vishwakarma Institute of Technology (VIT) and has developed deep domain knowledge across industrial and specialty chemicals, paints and coatings, paper and packaging, lubricants, and consumer products. Habi’s core competencies include market sizing and forecasting, competitive benchmarking, trend analysis, client engagement, report writing, and team coordination—making him adept at delivering actionable insights and supporting strategic decision-making.

What are the Liquid Silicone Rubber Market report deliverables?

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

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