The changing dynamics in Liquid Silicone Rubber Market with covid-19 impact assessment
June 08, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Liquid Silicone Rubber Market.
It was estimated prior to this unanticipated outbreak that the Liquid Silicone Rubber Market was expected to grow at a CAGR of 10.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Liquid silicone rubber is a type of silicone that is cured by platinum. Such silicone type enjoys high stability and is known to have high resistance towards high temperature.
Liquid silicone rubber has its application in a number of areas such as automotive, medical, electronics, consumer goods, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the grade type, the market is segmented as industrial grade, medical grade, and food grade. The medical grade segment is estimated to grow at high rate in the coming five years. The growth is attributed to the rising elderly population, across the board, coupled with the growing cognizance about health apprehensions, which is driving the medical applications segment. As grades are subjected to various approvals and protocols for practice in the medical sector, these are more expensive against other grades. Hence, the medical grade segment is projected to be the largest segment during the forecast period.
Based on the application type, the market is segmented as automotive, medical, electrical & electronics, consumer goods, and others. The medical segment is estimated to be fast growing application segment during the forecast period, in terms of both value and volume. The growth is attributed to the growing claim for throwaway-medical devices and implants.
In terms of regions, Asia-Pacific is the largest market for liquid silicone rubber. The region is likely to maintain its dominance during the forecast period. China and India are the growth engines of the region. China is estimated to be the largest, while India is estimated to be fast growing market in the coming five years. The market is driven by the presence of global manufacturing giants in the region. North America is also estimated as the largest market for liquid silicone rubber during the forecast period. The USA is fast growing market in the region. The market is sustained by the increasing demand for implants, disposable medical devices, and equipment parts.
Key Players:
Some of the major players in the liquid silicone rubber market are DOW Corning, Wacker Chemie AG, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., Ltd., Bluestar Silicones (Elkem Group), KCC Corporation, Nusil Technology LLC, Simtec Silicone Parts, LLC, Stockwell Elastomerics Inc., Zhejiang Xinan Chemical Industrial Group Co., Ltd., and Reiss Manufacturing Inc.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Liquid Silicone Rubber Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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