Global demand for liquid silicone rubber is expected to reach $3.29 billion by 2025
Global demand for liquid silicone rubber is expected to reach $3.29 billion by 2025
The aging of the population and the development of new materials have led to a growing demand for liquid silicon rubber in the pharmaceutical and electronic industries.
In 2015, according to the latest research, market revenue reached $1.5 billion, is expected during the 2016-2025, the compound annual growth rate will reach 7.9%, to 2025, the global demand for liquid silicone rubber is expected to reach $3.29 billion.
Global demand for liquid silicone rubber is expected to reach $3.29 billion by 2025
Among them, the medical industry has the fastest growing demand in the forecast period, which will increase by 9% in 2016. In 2015, the liquid silicone rubber used in the pharmaceutical industry reached $285.6 million. It is mainly used in implants, medical devices, valves, skin contact devices, infusion pumps, etc.
In addition, there are a number of applications in the automotive field, including LED headlights, wiper and other electronic components.
The study says demand for the material will increase significantly in Asia over the next decade, mainly in the automotive and electronics sectors. The region will grow by 8.6 percent in 2016.
