The increasing use of Liquid Injection Molding Silicone Rubber (LIM LSR) in the food processing sector is the key driver driving market revenue growth. They are widely used in the food processing industry in baking trays and moulds, packing gear, beverages vending machines, over-door profiles, and other applications.
increasing use of Liquid Injection Molding Silicone Rubber (LIM LSR) in the food processing industry.
The global Liquid Injection Molding Silicone Rubber (LIM LSR) Market size was USD 2.57 Billion in 2021 and is expected to register a revenue CAGR of 8.3% over the forecast period, according to the latest report by Reports and Data.
The key driver driving market revenue growth is the increasing use of Liquid Injection Molding Silicone Rubber (LIM LSR) in the food processing industry. They are widely used in the food processing industry in baking trays and moulds, packing gear, beverages vending machines, over-door profiles, and other applications. Because silicone rubbers are resistant to cooking fats and sterilising solutions, they are ideal for these applications. Because of its inert nature, LSR is ideal for bakeware and other culinary goods. Additionally, increased demand for kitchen items produced with LSR, such as protective gloves, trivets, barbeque
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Top Companies: Dow, Wacker Chemie AG, Momentive, Shin-Etsu Chemical Co., Ltd., KCC Corporation, Jiangsu Tianchen New Materials Co., Ltd., Avantor, Inc., Blue Star Limited, Stockwell Elastomerics, INC., and Laur Silicone, Inc.
Further Key Finding from the Report Suggestion:
- The Liquid Injection Molding Silicone Rubber (LIM LSR) market is divided into three grades: industrial, food, and medical. Over the projection period, the medical industry is predicted to have considerable revenue growth. Because of its exceptional heat resistance, low-temperature flexibility, chemical resistance, and other properties, Liquid Injection Molding Silicone Rubber (LIM LSR) (LSR) is employed in a wide range of medical applications. Because it can fulfil FDA, ISO 10993, and Class VI medical compliance standards, LSR is an appropriate material for the medical industry.
- Because of its longevity, versatility in moulding techniques, wide temperature ranges of use, chemical inertness, high tensile strength, wide range of available durometers, biocompatibility, and compatibility with numerous sterilisation techniques, silicone is the preferred material among medical device manufacturers.
- The North America market will account for the biggest revenue share in 2021, owing to expanding demand in the construction and consumer goods sectors, as well as increased automobile manufacturing in countries such as the United States and Canada. Furthermore, significant improvements in medical grade LSR, electrical electronics applications, and medical applications are some of the reasons driving this region's market revenue growth. The Asia Pacific market is predicted to develop at a rapid pace throughout the forecast period, owing to increased demand in the automotive and healthcare industries, as well as easy labour availability in countries like as India, Japan, and China.
- WACKER, a chemical manufacturer headquartered in Munich, will open a new silicone production plant in Panagarh, India, on July 5, 2022. This 160-kilometer-northwest-of-Kolkata factory manufactures silicone compounds and rubber for use in electromobility, medical technology, and electrical transmission and distribution.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Liquid Injection Molding Silicone Rubber (LIM LSR) market is segmented into:
Grade Outlook (Revenue, USD Billion; 2019-2030)
Curing System Outlook (Revenue, USD Billion; 2019-2030)
- Injection Molding
- Peroxide Cure System
- Platinum-based Cure System
- Condensation Cure System
Application System Outlook (Revenue, USD Billion; 2019-2030)
- Medical Implants
- Medical Devices
- Sealing, Coatings, and Gaskets
- Windshield Wipers Sensors
- Electrical Insulation
- Led Light Components and Panel Buttons
- Water Contact Products
- Home Appliance Components
- Infant Care Products
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Healthcare Sector
- Automotive Industry
- Electronics Industry
- Consumer Goods
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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