The liquid silicone rubber market in APAC is expected to grow from US$ 497.18 million in 2022 to US$ 774.11 million by 2028. It is estimated to grow at a CAGR of 7.7% from 2022 to 2028.
Growing development of cost-effective products is propelling focus of players to develop new products. Expansion of production capacity and both local levels is one of the key industry trends. Industry players are increasingly shifting their preference towards using liquid silicone rubber in their automotive components and electronic products. For instance, Jabil Green Point, a leading electronics injection molding company, announced using liquid silicone rubber to produce noise-cancelling headphones. A slew of such instances is expected to create lucrative growth in the market. Liquid Silicone Rubber has unique physical and chemical properties such as high electrical resistivity, chemical inertness, and resistance to temperature extremes, etc. These properties have enabled their wide acceptance in the medical, electrical, and electronic, automotive and many other sectors. Further, increasing geriatric population is driving the demand for implants and medical devices in the medical industry and increasing emphasis on new product development.
Growing development of cost-effective products is propelling focus of players to develop new products. Expansion of production capacity and both local levels is one of the key industry trends. Industry players are increasingly shifting their preference towards using liquid silicone rubber in their automotive components and electronic products. For instance, Jabil Green Point, a leading electronics injection molding company, announced using liquid silicone rubber to produce noise-cancelling headphones. A slew of such instances is expected to create lucrative growth in the market. Liquid Silicone Rubber has unique physical and chemical properties such as high electrical resistivity, chemical inertness, and resistance to temperature extremes, etc. These properties have enabled their wide acceptance in the medical, electrical, and electronic, automotive and many other sectors. Further, increasing geriatric population is driving the demand for implants and medical devices in the medical industry and increasing emphasis on new product development.
Market Overview
The Asia Pacific liquid silicone rubber market comprises various potential economies, such as Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China, India, and other southeast Asian countries are the key markets in the region. Due to heavy investments from various manufacturers and the rise in government initiatives to support the production of different types of liquid silicone rubber, the production capacity of the region is expected to increase in the coming years. As the mobility industry has been increasingly inclining towards electrification and autonomy of vehicles in the region, the need for specialty components has been increasing. Hence, the global leaders are taking initiatives and focusing on expansion strategies. For instance, on 24th November 2021, Dätwyler Holding Inc.- a European leader in specialty elastomers has expanded their production of liquid silicone rubber components in Wuxi, China. Moreover, the growing product development and industrialization and wide application in end-use industries such as building & constriction, manufacturing, automotive, and healthcare especially in developing countries in the region are the major factors attributed to the growth of the liquid silicone rubber market. The growth and expansion of the automotive industry in developing countries focus on the high-quality efficiency of components used in the industry. The players are extensively providing product portfolios including sealants, coatings, one or two-component liquid rubbers, and adhesives. Hence, the wide array of applications and availability of various grades surging the demand for the liquid silicone rubber market.APAC Liquid Silicone Rubber Market Segmentation
The APAC liquid silicone rubber market is segmented into grade, end users, and country.- Based on grade, the market is segmented into food, medical, and industrial. The industrial segment registered the largest market share in 2022.
- Based on end users the APAC liquid silicone rubber market is segmented into healthcare, automotive, consumer goods, electricals and electronics, and others. The healthcare segment registered the largest market share in 2022.
- Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. China dominated the market share in 2022. Avantor, Inc., CHT Germany GmbH, Dow Inc., Elkem Asa, KCC Silicone Corporation, Momentive, Shin Etsu Chemical Co. Ltd., and Wacker Chemie AG are the leading companies operating in the liquid silicone rubber market in the region.
Table of Contents
1. Introduction
3. Research Methodology
4. APAC Liquid Silicone Rubber Market Landscape
5. APAC Liquid Silicone Rubber Market - Key Market Dynamics
6. Liquid Silicone Rubber - APAC Market Analysis
7. APAC Liquid Silicone Rubber Market Analysis - By Grade
8. APAC Liquid Silicone Rubber Market Analysis - By End User
9. APAC Liquid Silicone Rubber Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Companies Mentioned
- Avantor, Inc.
- Cht Germany Gmbh
- Dow Inc.
- Elkem Asa
- Kcc Silicone Corporation
- Momentive
- Shin Etsu Chemical Co. Ltd.
- Wacker Chemie Ag
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 130 |
| Published | November 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 497.18 Million |
| Forecasted Market Value ( USD | $ 774.11 Million |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 8 |
