The liquid silicone rubber market in North America is expected to grow from US$ 370.00 million in 2022 to US$ 542.75 million by 2028. It is estimated to grow at a CAGR of 6.6% from 2022 to 2028.
Increase in rise in chronic illnesses and improvements in active implanted medical devices, is anticipating the demand of liquid silicone rubber. Furthermore, rise in aesthetic surgeries is also drive the demand of medical implants. Medical devices and implants are inserted into the body through surgical procedures and can then be removed depending on the needs of the patient. Medical devices and implants are usually made of body tissues, ceramics, metals, and plastics and help to improve the patient's quality of life. Currently, increasing incidence of chronic diseases and increasing awareness of health products are positively affecting the demand for implantable medical devices across the globe. Liquid silicone rubber improves quality of medical devices, and their lifetime performance. Medical grade silicone molding is used to manufacture dental and surgical implants. The materials vary in terms of characteristics such as elasticity, strength, hardness and compatibility, and other properties. All these properties are increasing demand. One of the major factors driving the demand for implantable medical devices in India is inflation in disposable incomes along with improved healthcare infrastructure. Apart from this, the growing geriatric population which is more prone to health disorders is contributing to the growth of the market. Moreover, the growing awareness of cosmetic surgery is positively affecting the demand for these devices in the country. Additionally, the Indian government has approved several new implantable medical devices, which in turn are expected to propel the market forward in the coming years.
Increase in rise in chronic illnesses and improvements in active implanted medical devices, is anticipating the demand of liquid silicone rubber. Furthermore, rise in aesthetic surgeries is also drive the demand of medical implants. Medical devices and implants are inserted into the body through surgical procedures and can then be removed depending on the needs of the patient. Medical devices and implants are usually made of body tissues, ceramics, metals, and plastics and help to improve the patient's quality of life. Currently, increasing incidence of chronic diseases and increasing awareness of health products are positively affecting the demand for implantable medical devices across the globe. Liquid silicone rubber improves quality of medical devices, and their lifetime performance. Medical grade silicone molding is used to manufacture dental and surgical implants. The materials vary in terms of characteristics such as elasticity, strength, hardness and compatibility, and other properties. All these properties are increasing demand. One of the major factors driving the demand for implantable medical devices in India is inflation in disposable incomes along with improved healthcare infrastructure. Apart from this, the growing geriatric population which is more prone to health disorders is contributing to the growth of the market. Moreover, the growing awareness of cosmetic surgery is positively affecting the demand for these devices in the country. Additionally, the Indian government has approved several new implantable medical devices, which in turn are expected to propel the market forward in the coming years.
Market Overview
North America is one of the prominent markets for liquid silicone rubber due to its increasing application in various end-use industries across the region. Amid the focus on environmental, social, and governance (ESG) concerns, every industry is looking for sustainable products. As the liquid silicone rubber is safe and more environmentally friendly many industries replace natural rubber with silicone rubber. In sectors that rely on global manufacturing and supply chain networks such as medical, food, automotive, and electronics, the manufacturing processes result in various emissions of harmful gases. Hence, on 21st March 2022, The Security and Exchange Commission (SEC), proposed new regulations for climate change information for public and private industries in the US. Due to favorable regulatory compliance and ongoing product advancements, notably in the healthcare sector, the region will experience significant growth for adoption of eco-friendly liquid silicone rubber. Additionally, the region's rising sealants and adhesive usage will open up lucrative opportunities for the liquid silicone rubber market in the forecast period.North America Liquid Silicone Rubber Market Segmentation
The North America 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 North America 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 US, Canada, and Mexico. US dominated the market share in 2022. Avantor, Inc., Beacon Medtech Solutions, CHT Germany GmbH, Dow Inc., Elkem Asa, KCC Silicone Corporation, Momentive, Shin Etsu Chemical Co. Ltd., Stockwell Elastometrics Inc., 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. North America Liquid Silicone Rubber Market Landscape
5. North America Liquid Silicone Rubber Market - Key Market Dynamics
6. Liquid Silicone Rubber - North America Market Analysis
7. North America Liquid Silicone Rubber Market Analysis - By Grade
8. North America Liquid Silicone Rubber Market Analysis - By End User
9. North America Liquid Silicone Rubber Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Companies Mentioned
- Avantor, Inc.
- Beacon Medtech Solutions
- Cht Germany Gmbh
- Dow Inc.
- Elkem Asa
- Kcc Silicone Corporation
- Momentive
- Shin Etsu Chemical Co. Ltd.
- Stockwell Elastometrics Inc.
- Wacker Chemie Ag
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 130 |
| Published | November 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( $ | $ 370 Million |
| Forecasted Market Value ( $ | $ 542.75 Million |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | North America |
| No. of Companies Mentioned | 10 |
