Increasing Investment in New Product launch from Market Players
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.
Strategic insights for the Asia-Pacific Liquid Silicone Rubber provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Asia-Pacific Liquid Silicone Rubber refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.Asia-Pacific Liquid Silicone Rubber Strategic Insights
Asia-Pacific Liquid Silicone Rubber Report Scope
Report Attribute
Details
Market size in 2022
US$ 497.18 Million
Market Size by 2028
US$ 774.11 Million
Global CAGR (2022 - 2028)
7.7%
Historical Data
2020-2021
Forecast period
2023-2028
Segments Covered
By Grade
By End Users
Regions and Countries Covered
Asia-Pacific
Market leaders and key company profiles
Asia-Pacific Liquid Silicone Rubber Regional Insights
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.
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.
The Asia-Pacific Liquid Silicone Rubber Market is valued at US$ 497.18 Million in 2022, it is projected to reach US$ 774.11 Million by 2028.
As per our report Asia-Pacific Liquid Silicone Rubber Market, the market size is valued at US$ 497.18 Million in 2022, projecting it to reach US$ 774.11 Million by 2028. This translates to a CAGR of approximately 7.7% during the forecast period.
The Asia-Pacific Liquid Silicone Rubber Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Liquid Silicone Rubber Market report:
The Asia-Pacific Liquid Silicone Rubber Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Liquid Silicone Rubber Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Liquid Silicone Rubber Market value chain can benefit from the information contained in a comprehensive market report.