Fueling Application of Liquid Silicone Rubber in Medical Implants and Devices
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 Revenue and Forecast to 2028 (US$ Million)
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.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 370.00 Million |
| Market Size by 2028 | US$ 542.75 Million |
| CAGR (2022 - 2028) | 6.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Grade
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Liquid Silicone Rubber Market is valued at US$ 370.00 Million in 2022, it is projected to reach US$ 542.75 Million by 2028.
As per our report North America Liquid Silicone Rubber Market, the market size is valued at US$ 370.00 Million in 2022, projecting it to reach US$ 542.75 Million by 2028. This translates to a CAGR of approximately 6.6% during the forecast period.
The North America 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 North America Liquid Silicone Rubber Market report:
The North America Liquid Silicone Rubber Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Liquid Silicone Rubber Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Liquid Silicone Rubber Market value chain can benefit from the information contained in a comprehensive market report.
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