The global Liquid Silicone Rubber Market was valued at USD 2.57 Billion in 2021, with an estimated compound annual growth rate of 8.3% over the forecast period. The increasing use of liquid silicone rubber in the food processing industry is driving market growth, as it is resistant to cooking fats and sterilising solutions, making it ideal for use in baking trays and moulds, packing gear, and other applications. The demand for kitchen items produced with LSR, such as protective gloves, trivets, and barbeque accessories, is also contributing to market growth.

Furthermore, the market is experiencing growth due to the increasing demand for flexible wearables like Fitbit and Jawbone. LSR is a preferred material for wearable technology used in locations with frequent sun exposure because of its ability to withstand extremes in temperature, ultraviolet (UV), and ozone without deteriorating.

The liquid silicone rubber market is divided into three grades: industrial, food, and medical, with the medical industry predicted to have the most significant revenue growth over the projection period due to LSR's exceptional heat resistance, low-temperature flexibility, chemical resistance, and other properties. The North American market is expected to account for the most significant revenue share in 2021, driven by expanding demand in the construction and consumer goods sectors, increased automobile manufacturing in countries such as the United States and Canada, and significant improvements in medical grade LSR. The Asia Pacific market is projected to grow rapidly throughout the forecast period due to increased demand in the automotive and healthcare industries.

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Companies profiled in the report include:

• Dow,
• Wacker Chemie AG,
• Momentive,
• Shin-Etsu Chemical Co., Ltd.,
• KCC Corporation.

The notable innovation of Liquid Silicone Rubber Market:

With increasing demand from industries such as healthcare, automotive, electronics, and consumer goods, manufacturers have been developing new grades and curing systems of liquid silicone rubber to meet specific application requirements. For instance, medical-grade LSR has been developed to meet strict regulatory standards and has found extensive use in medical implants and devices. Additionally, new application systems have been developed for windshield wipers sensors, dampers, electrical insulation, LED light components, and more. Along with new products, companies are also expanding their manufacturing capabilities with new production plants being set up in countries such as India.

Some key factors about the Liquid Silicone Rubber (LSR) market in points:

• The global LSR market size was USD 2.57 Billion in 2021, and it is expected to grow at a revenue CAGR of 8.3% during the forecast period.
• The increasing use of LSR in the food processing industry is driving the market revenue growth. It is widely used in baking trays and moulds, packing gear, beverages vending machines, and other applications due to its resistance to cooking fats and sterilising solutions.
• The demand for kitchen items produced with LSR, such as protective gloves, trivets, and barbeque, is also contributing to the market growth.
• The demand for flexible wearables among consumers, such as wearable fitness trackers like Fitbit and Jawbone, is boosting the market revenue growth. LSR is a preferable solution to traditional materials for wearable technology used in locations with frequent sun exposure due to its exceptional heat resistance, low-temperature flexibility, and chemical resistance.
• The LSR market is divided into three grades: industrial, food, and medical. The medical industry is predicted to have considerable revenue growth during the projection period.
• The North America market is expected to have the biggest revenue share in 2021, owing to expanding demand in the construction and consumer goods sectors, as well as increased automobile manufacturing in countries such as the United States and Canada. The Asia Pacific market is predicted to develop at a rapid pace throughout the forecast period, owing to increased demand in the automotive and healthcare industries, as well as easy labor availability in countries like India, Japan, and China.

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