Liquid Silicone Rubber Market 2027: Analysis, Growth, Outlook, Trends and Demand

2022-09-27 05:17:43 UTC | Chemicals & Advanced Materials
Liquid Silicone Rubber Market 2027: Analysis, Growth, Outlook, Trends and Demand

According to the latest report by IMARC Group, titled Liquid Silicone Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global liquid silicone rubber market size reached US$ 2.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2027, exhibiting a growth rate (CAGR) of 8.79% during 2022-2027.

Liquid silicone rubber (LSR) represents a dense, durable, and highly resistant elastomer prepared to utilize an injection molding method that provides ease of processing, part consistency, and enhanced productivity. It offers numerous benefits, including excellent weatherability, chemical stability, heat and abrasion resistance, electrical insulation properties, etc. Liquid silicone rubber can also withstand extreme temperature and harsh environmental conditions, such as wind, rain, and ultraviolet (UV) rays. As a result, it is commonly utilized in industrial tools that require high strength, resistance, and quality. Liquid silicone rubber is also extensively used to produce medical equipment, such as prostheses or organ parts.

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Market Trends:

The growing number of organ failure cases due to the expanding geriatric population and the rising prevalence of chronic diseases is one of the primary factors driving the liquid silicone rubber market. Moreover, the escalating need for minimizing the risk of contamination and improving the safety of medical devices is further propelling the market growth. Additionally, the increasing product utilization in the automotive industry to manufacture small and complex elastomeric parts at high speeds and optimum productivity is acting as another growth-inducing factor. Besides this, the emerging trend of industrial automation and the growing demand for precision manufacturing are projected to cater to the growth of the liquid silicone rubber market in the coming years.

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