Liquid Silicone Rubber Market Share

APAC Market Forecast

The liquid silicone rubber market in Asia Pacific is poised to garner the highest share of about 30% during the forecast period due to the rapidly expanding automotive sector and the presence of leading companies. According to an analysis by Research Nester, around 36 million passenger automobiles were sold in the Asia Pacific in 2022, leading to high demand for LSRs. In addition, rising investments in healthcare infrastructure across countries such as China, India, and Japan, driving the demand for medical-grade LSR in devices like catheters, seals, syringe plungers, and prosthetics.

China is one of the largest manufacturing hubs, driving the demand for LSR in industries such as electronics, automotive, and consumer goods. Several key players are heavily investing in advanced molding technologies and automation. Moreover, the expanding electronics and consumer goods sectors in China and growing demand for lightweight materials across various sectors is expected to surge the sales of LSR in the coming years.

Europe Market Analysis

Europe market is likely to register a rapid revenue CAGR by the end of 2037 owing to rising demand for eco-friendly building materials and increasing investments in developing advanced technologies Silicone sealant application in buildings, particularly residential construction, presents major revenue prospects to chemical producers in this region. In addition, rising need for biocompatible materials like LSR for medical equipment and a high focus on developing innovative LSR formulations tailored for niche applications, driving market expansion in the region.

Germany is a major automotive hub and home to major automotive companies like BMW, Volkswagen, and Daimler, fueling the demand for advanced solutions, including liquid silicone rubbers. Other factors such as stringent environmental regulations, growing demand for consumer goods, cosmetics, and electric vehicles, and high focus on green and energy-efficient buildings are expected to boost market growth in the country.