New York City, NY, 17 April, 2020/ 24 Market Reports: It is estimated for the liquid silicone rubber market to reach USD 3.82 Billion by 2026, at a CAGR of 8.3%, from 2016 to 2026. High-growth in the electrical & electronics and medical applications, and rapid growth in the demand for medical grade LSRs are driving the growth of the market during the forecast period. They are widely used in electrical insulation and electrical potting in electrical and electronics application. They are used in the manufacture of LED lights as the LSRs are chemically inert and extreme temperature resistant.
Medical is estimated to grow at the fastest rate in the market during the forecast period
Medical is estimated to grow at the fastest rate in the market during the forecast period. The demand for LSR is growing rapidly in the medical field. This factor is driving the growth of the market in the medical sector during the forecast period. The increase in the demand for disposable medical devices and implants is also expected to drive the LSR medical application.
The medical-grade liquid silicone rubber (LSR) market is estimated to grow at the fastest rate in the market during the forecast period
During the forecast period, the medical-grade liquid silicone rubber (LSR) market is estimated to grow at the fastest rate in the market during the forecast period. Increasing ageing population, worldwide, along with increasing awareness about health concerns are driving the growth of the market during the forecast period. Thus, the medical-grade LSR market is expected to be the largest in terms of value, during the forecast period.
Asia Pacific region to grow at the fastest rate in the market during the forecast period
Asia Pacific region to grow at the fastest rate in the market during the forecast period. China is the largest market and India the fastest growing market in the region during the forecast period. Global companies are establishing distribution networks and R&D centres in this region. Rapidly growing demand in healthcare applications, competitive manufacturing costs, and high economic growth rate are driving the growth of the market in the region during the forecast period.
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