New product launch is the key strategy adopted by
leading market players
New product launches is the key strategy adopted by industry players
to strengthen their positions in the global Liquid Silicone Rubber (LSR) Market.
This strategy accounted for 55.36% of all the growth strategies adopted by
market players between 2011 and 2016. Companies adopted the investments & expansions
strategy to strengthen their product portfolios, which accounted for 33.93%, and
the collaborations, joint ventures, and partnerships strategy, which accounted
for 7.14% of all the growth strategies adopted by market players in the LSR market.
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The Asia-Pacific and European regions were the most active, in terms
of strategic initiatives undertaken between 2012 and 2016. Expansions was the
most favored strategy in the Asia-Pacific region between 2011 and 2016. Most of
the companies have established distribution networks and R&D centers in
this emerging market. Companies have adopted both, organic and inorganic growth
strategies such as expansions, mergers & acquisitions, and new product
launches to strengthen their positions in the global LSR market.
The global LSR market is semi unorganized. Thus the major players of
the market consolidate to only 50.0% of the total LSR market. Dow Corning
Corporation (U.S.) is the leading player in the global LSR market and accounted
for an 18% market share between 2011 and 2016. Dow Corning is a wholly
owned subsidiary of Dow Chemical Company. It offers liquid silicone rubber
products for the construction, energy, electronics, beauty & personal care,
health care, transportation, manufacturing, textiles, paper, paints &
coatings, and other processing industries. The company
launched its new Dow Corning QP1-2XX LSR product line, Silastic Q7-78XX a
biomedical grade LSR, and C6- 7XX LSR, in 2015.
Wacker Chemie AG (Germany) has gained a strong foothold in the global
LSR market. It is focusing on organic growth and has enhanced its product
portfolio in the LSR market through various growth strategies, such as
expansions and joint ventures, to meet the growing demand from customers. Wacker
launched SILPURAN 6760/50, a self-adhesive having low-friction surface, in 2016.
This product is used for manufacturing hard and soft components for medical and
pharmaceutical applications. Wacker has a good hold in the LSR market and is growing
with the goal to attain the leading position. The company has established new
plants to increase its production capacity, and is striving to develop new and
innovative products to comply with the changing needs.
Increasing demand in the
electrical & electronic industry, and aging population driving the LSR market
The global Liquid Silicone Rubber (LSR) market is projected to grow
at a CAGR of 8.3% in terms of value, from 2016 to 2026. It is expected to reach
USD 3.82 billion by 2026. The LSR market is growing due to the increasing demand
in the electrical & electronic industry. Variations in the regulations
across countries is a major challenge in the global LSR market.
Medical grade LSRs constituted the second largest market share in
the global LSR market in 2015. This grade is projected to grow at the fastest CAGR
in terms of value, during the forecast period. These LSRs are used in the
medical application, especially in the manufacture of medical devices,
implants, and parts of medical equipment. The increasing demand for LSR
products in the healthcare industry is driving the medical grade LSR market.
The medical application is growing due to the increasing demand for LSR
products from the healthcare industry. The increasing demand for disposable
devices is fueling the growth of this application. Since LSRs are
temperature-resistant and are easy to sterilize, products manufactured using
LSRs reduce the risk of bacterial infections.
The Asia-Pacific region LSR market is projected to grow at the
fastest rate, during the forecast period. The demand for healthcare products in
China and India is higher due to the large populations in these countries. The
rapidly growing demand in end-use applications, competitive manufacturing
costs, and high economic growth rate favor the growth of the LSR market in the
Asia-Pacific region. The high growth in demand is attracting companies to adopt
the investments and expansions strategies in this region.
Key players in the liquid silicone rubber market are, Wacker Chemie
AG (Germany), Bluestar Silicones (France), KCC Corporation (South Korea), Shin-Etsu
Chemical Co., Ltd (Japan), and Zhejiang Xinan Chemical Industrial Group Co.,
Ltd (China).
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