The increasing trend of over-molding and micro molding of specific electrical components in automotive industries and medical industries are also vital for the LSR market growth.
According to the latest Arizton's market research report, Liquid Silicone Rubber Market size to cross around USD 3 billion by 2025, growing at a CAGR of over 8% during the forecast period.
LSR Market Growth
The liquid injection molding process is one of the widely adopted manufacturing techniques. The growing feature of ‘2K’ molding which comprises multi-material, multi-color, and multi-durometer processing can be a vital growth factor for the utilization of more LSRs in the molding process. The increasing trend of over-molding and micro molding of specific electrical components in automotive industries and medical industries are also vital for the LSR market growth. The micro-molding technique is witnessing a growth in the medical, electrical & electronics, industrial and medium scale industries due to their specific requirement of tight tolerance, microscopic, and more precise components. The concept of cleanroom molding and micro molding are the new gamechangers that are driving the growth of the LSR market.
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Growth in 3D Printing
LSRs are flexible and durable as they have a high adoption rate in 3D printing technology which in an ongoing trend in the global market. 3D printing technology incorporated with LSRs is a more reliable and time-saving process for many manufacturers in the LSR market. With the use of PolyJet technology, 3D printing is estimated to be easy with LSR. ACEO which is a global leader in 3D printing technology based in Germany launched the 3D LSR version for catering to the needs of the market. The additive manufacturing of LSR can be used for the manufacturing of customized parts with new designs, small manufacturing of trial parts and for fast prototyping. The use of 3D printing technology across various industries will fuel the growth of the LSR market.
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- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by grade, end-users, and geography
- Competitive Landscape – 5 Key Company Profiles and 19 Other Prominent Vendors
LSR Market – Geographic Analysis
The LSR market share is greatly influenced by major industries such as automotive, electronics, and healthcare. The APAC region is the market leader due to the presence of several electronics and manufacturing sites that are making use of this material. In North America, with the rapid urbanization and growth of technology, industries tend to consume much of the LSR contributing to its major growth criteria. The growing trend of cleanroom molding techniques in the US and Canadian health care systems can stimulate LSR utilization due to its biocompatibility and enhanced performance of end-users like surgeons and medical experts.
Read: Specialty Chemicals Market - Global Outlook and Forecast 2021-2026
The adoption of the LSR has gained momentum in recent times due to its exceptional advantages over the counterparts in the LSR market. There are numerous numbers of industries getting benefited from LSR. The entry barriers in the LSR market are generally based on government policies and regulations from standard authorities like food development authority, hazard analysis, and critical control points practices. The players in the LSR market are finding ways to expand their businesses with the help of mergers and acquisitions to capture the share. To gain a positive edge over the fragmented LSR market, product innovation and development seems to be another crucial factor in the process.
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