Liquid Silicone Rubber Equipment Market Report Overview
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The global liquid silicone rubber equipment market size was USD 140.5 million in 2022 and market is projected to touch USD 298 million by 2031, at a CAGR of 8.7% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with liquid silicone rubber equipment market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over.
Liquid silicone rubber is a high quality and pure platinum cured silicone rubber. Rise in application of liquid silicone rubber for aerospace and aeronautical applications is the root cause fuelling up the market growth rate. Due to growth preferred by surging applications in the consumer electronics industry it accredited to the demand for personal electronics for everyday use. There is a rise in application of rubber in manufacturing of smartphones, headsets, smart bands and other devices due to its high stability and cost efficiency. Industry players are progressively fluctuating their liking towards liquid silicone rubber equipment in electronics products. Growing implementation in the electronics sector is anticipated to generate opportunities for the market in the future years. Constant research and development activities have led to progressions in liquid silicone rubber preparations, subsequent in better-quality stuffs and performance. With the speedy development of the electronics sector and the growing demand for strong and consistent electronic devices, the demand for liquid silicone rubber is experiencing significant growth. Liquid silicone rubber is considered an ecologically approachable material as it can be reprocessed and has a low carbon impression. The rising prominence on sustainability and biodegradable practices across several industries motivates the demand for liquid silicone rubber as a desired choice for ecological solutions. It is also applied in numerous consumer goods and personal care products due to its flexibility, soft-touch feel, and hypoallergenic properties. With strict regulatory values and certifications, creating it an ideal choice in industries with firm safety and superiority desires. Regulatory procedures safeguards the dependability and protection of the end products additionally improving the liquid silicone rubber equipment market growth.
COVID-19 Impact: Pandemic hampered the market due to unexpected disruption in the sector
COVID 19 pandemic has tremendously affected the whole world. The pandemic has led to significant changes in consumer behaviour, with more individuals spending online and selecting health and safety. Pandemic had negative impact on the industry, consumer demand has also consequently reduced as individuals are now more intense on eradicating non-essential expenses from their respective budgets as the general economic status of most individuals have been severely affected by this outbreak. COVID-19 pandemic, lockdowns, social distancing policy has caused disruption in the supply chain. However, the growing awareness for health and cleanliness has driven an increase in healthcare, personal care and medical products which now motivate the market for liquid Silicone rubber.
Latest Trends
"Technological advancement to boost the market growth "
High execution of advanced technology and the survival of large players in county are likely to create generous growth opportunities for the market. Technological innovation and advancement will further enhance the performance of the product. Developments in technology have led to the expansion of new and better-quality materials contributing to the market growth. Team up with other firms can lead to the enlargement of new products, services, technologies that can help to motivate growth and income. Some players focus on product improvement to meet consumer requirements and likings.
Liquid Silicone Rubber Equipment Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into mechanical type, automatic type, and programmable type
Mechanical type the maximum market share through forecast period.
- By Application Analysis
According to application, the market can be segmented into automotive, electronic, medical, consumer goods, industrial, building, others.
Liquid silicone rubber equipment market players cover segment as automotive will dominate the market share during forecast period.
Driving Factors
"Rise in demand in healthcare sector to upsurge the market growth"
Medical companies are currently having enormous demand for liquid silicone rubber due to its capability to function efficiently at risky temperature and present chemical resistance. It is used in general surgery, cardiology, neurosurgery, ENT and others. The demand for liquid silicone rubber is increasing in the medical devices industry due to its transparency, chemical and physical resistance, suppleness, and sterilization properties.
"Rise in automobile to boost the market"
Liquid silicone rubber equipment is extensively used in the automobile sector to produce minor and multifaceted elastomeric parts with better efficiency. Therefore, with the rising automotive sector the demand for liquid silicone rubber equipment is likely to upsurge. The need for specialty constituents has been growing with the growing trends of electrification and self-sufficiency of vehicles in the region.
Restraining Factors
"High cost to hamper the market growth"
High cost with slow rate of production will further restrict the growth of liquid silicone rubber equipment market. High Rising competition in the market will hinder the growth. High costs related with manufacturing and handling will bear a major challenge to the growth of the market. It is extremely competitive, with many manufacturers and dealers operating in the industry led to fluctuations in the prices of raw materials, margin pressure will further impact market share and the growth.
Liquid Silicone Rubber Equipment Market Regional Insights
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"Asia pacific to dominate the region due to rise in healthcare industry"
Asia Pacific is further expected to witness growth in the liquid silicone rubber equipment market share. The region is anticipated to witness major growth over the forecast period due to the rising use by the healthcare industry. High awareness on developments gained from Research and Development and rise in disposable income along with rising inhabitants are prospective to enhance the industries which is likely to enhance products demand during the forecast period. The demand for liquid silicone rubber in the region is growing significantly due to the existence of the largest consuming countries.
Key Industry Players
"Key players focus on partnerships to gain competitive advantage"
The key players are enthusiastically contributing in strategic events that are aimed at upholding strong market position and growing market share by merger, partnerships and others. Key players are driven to introduce new novel products. They outlay rigorously on research and development in order to ascend with additional innovative technology so that they can preserve and progress their existing market. The market changes are dynamic such as market expansion, partnership and merger.
List of Market Players Profiled
- Buhler (Switzerland)
- Toshiba Machine (Japan)
- UBE Machinery (U.S.)
- Toyo Machinery & Metal (Japan)
- Birch Machinery Company (U.S.)
Report Coverage
The report provides examination and information according to market segments. Business summary, financial summary, product portfolio, new project launch, recent development analysis are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers nationwide and regional level market size and forecast. The report gives businesses the ability to research new outlook in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 140.5 Million in 2022 |
Market Size Value By |
US$ 298 Million by 2031 |
Growth Rate |
CAGR of 8.7% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the Liquid silicone rubber equipment market expected to touch by 2031?
Liquid silicone rubber equipment market is expected to touch USD 298 million by 2031.
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What CAGR is the Liquid silicone rubber equipment market expected to exhibit during 2031?
Liquid silicone rubber equipment market is expected to exhibit CAGR of 8.7% during 2031.
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What are the driving factors of the Liquid silicone rubber equipment Market?
Medical companies are currently having enormous demand for liquid silicone rubber due to its capability to function efficiently at risky temperature and present chemical resistance.
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Which are the key players or most dominating companies functioning in the Liquid silicone rubber equipment market?
The dominating companies in the Liquid silicone rubber equipment market are Buhler, Toshiba Machine, Frech, UBE Machinery, and Toyo Machinery & Metal.
