The global liquid silicone rubber (LSR) market is projected to grow from $1.73 billion in 2018 to $2.26 billion by 2024, exhibiting a CAGR of 4.62 percent during the forecast period, according to ReportLinker. 

Huge LSR end-use in consumer goods coupled with increasing demand for medical grade liquid silicone rubbers are the key factors fueling growth of the global LSR market. Use of medical grade LSR decreases the risk of bacterial infections, thus it is used in skin medications to support functionality and absorption. In electronics and electrical end-use, LSR is extensively used in electrical potting and insulation. 

Based on the end-use industry, the LSR market has been segmented into consumer goods, automotive, electrical and electronics, and medical. Among the various end-use industries, medical is the fastest growing industry in the global LSR market. Further, based on grades of LSR, the food grade LSR segment is expected to dominate the market, owing to its increasing end-use in consumer goods worldwide. 

The global LSR market has been segmented into North America, South America, Europe, Asia-Pacific, and Middle East and Africa. Among these regions, Asia-Pacific is the second fastest growing region in the global LSR market, wherein countries like China and Japan are the major markets. Furthermore, Asia-Pacific leads the global LSR market, and China is the fastest growing and dominating market in the region, owing to rising demand from the consumer and medical industries. 

Some of the leading companies operating in the global liquid silicone rubber (LSR) market are The Dow Chemical Company (previously known as Dow Corning), Wacker Chemie AG, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., Ltd., KCC Corporation, China National Bluestar (Group) Co., Ltd., Laur Silicone, Inc., Simtec Silicone Parts, LLC, Wynca Group, Jiangsu Tianchen New Materials Co., Ltd., and others. 










来源:Rubber World