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Energy Industry News Releases

Liquid Silicone Rubber Market worth 3.82 Billion USD by 2026

(EnergyIndustry.Net, January 12, 2019 ) According to the new market research report “Liquid Silicone Rubber Market by Grade (Industrial, Medical, Food), Application (Automotive, Medical (Implants, Medical Devices), Electrical & Electronics (Insulation, and Electrical & Optical), Consumer Goods), Region - Global Forecast to 2026”, published by MarketsandMarkets™, the global Liquid Silicone Rubber (LSR) market is projected to reach USD 3.82 Billion by 2026, at a CAGR of 8.3%, during the forecast period, 2016 to 2026.

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LSRs have many beneficial properties such as, having heat resistance, being chemically inert, biocompatible, and easy to mold. Thus these are used in many applications including, automotive, medical, electrical & electronics, and consumer goods. The growing aging population is leading to the high growth in demand for LSR products in the healthcare industry, and the increasing demand for LSR from the electrical & electronics industry is driving the LSR market. This is resulting in an increase in the number of new product launches and expansions by companies.

Medical: The fastest growing application segment of the LSR market

The medical application is growing due to the increasing demand for LSR products in the healthcare industry. The increasing aging population, worldwide, along with the increasing awareness about health concerns is driving the medical applications of LSR. Medical-grade LSRs are used to manufacture various medical devices, accessories, and fittings, as these are temperature-resistant, and are easy to sterilize.

Medical grade LSR: The fastest growing grade in the LSR market

The medical grade LSR is the fastest growing grade of LSR. Since the use of medical grade LSRs require the compliance of many specifications and regulations for use in medical products, they are costlier than the other grades of LSRs. Thus this grade is expected to be the largest in terms of value, during the forecast period. Companies such as, Dow Corning (U.S.), and Wacker Chemie AG (Germany) are the leading companies in the manufacture of medical grade LSRs.

Browse and in-depth TOC on “Liquid Silicone Rubber Market”
80 - Tables
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North America: The largest region for LSR

North America is the largest market for LSR. The market in North America is growing due to the increasing demand for LSRs in various applications including, automotive, medical, electrical & electronics, consumer goods, and others. The medical application has the largest share in the North American LSR market. This application is driven by the demand for LSR based medical devices, medical components, and implants, especially in the U.S. The major players in the LSR market such as, Dow Corning (U.S.), Momentive Performance Materials Inc. (U.S.), NuSil Technology LLC (U.S.), Simtec Silicone Parts, LLC (U.S.), and Stockwell Elastomerics Inc. (U.S) are U.S.-based companies and supply their products across the globe.

Some of the major players in the global LSR market are, Wacker Chemie AG (Germany), Bluestar Silicones (France), KCC Corporation (South Korea), Shin-Etsu Chemical Co. Ltd (Japan), and Zhejiang Xinan Chemical Industrial Group Co. Ltd (China). The key players in this market are focusing on organic growth strategies to gain a greater market share in emerging economies such as, India and Brazil. Also, several companies have strengthened their distribution networks in these countries.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

MarketsandMarkets

Mr. Shelly Singh

1-888-600-6441

sales@marketsandmarkets.com

Source: EmailWire.Com

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