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India Liquid Silicon Rubber Market Size (2024 - 2029)

The Indian liquid silicon rubber market is poised for growth, driven by increasing demand across various sectors such as automotive, building, electronics, and medical industries. The market's expansion was initially hindered by the COVID-19 pandemic, which led to a decline in demand and production due to global lockdowns. However, the market has since rebounded, with a notable rise in demand from the food processing and packaging industries, driven by heightened food safety and hygiene requirements. Despite the challenges posed by high production costs, the market's size is expected to grow, particularly due to the rising need for medical devices and equipment.

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Market Size of India Liquid Silicon Rubber Industry

India Liquid Silicone Rubber Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 8.00 %
Market Concentration Medium

Major Players

India Liquid Silicon Rubber Market Major Players

*Disclaimer: Major Players sorted in no particular order

India Liquid Silicon Rubber Market Analysis

The Indian liquid silicon rubber market is expected to register a CAGR of over 8% during the forecast period.

The COVID-19 epidemic significantly impacted the liquid silicone rubber market. Due to the global lockdown imposed by various governments in response to the epidemic, there is a decrease in demand for silicone products from different end-use sectors. Due to this, there is a decline in the production and sales of silicone products, impacting the market expansion. The market did, however, rebound in 2021 as a result of rising silicone product demand across a range of end-use sectors, including the automotive, building, electronics, and medical industries.

  • Over the short term, the demand for liquid silicone rubber products in the food processing and packaging industries is anticipated to rise in response to the increasing demand for food safety and hygiene. Liquid silicone rubber products are used in the food processing industry for sealing, gaskets, and other components. In the packaging industry, liquid silicone rubber products are used for sealing and cushioning food products.
  • However, the high cost of liquid silicone rubber products is impeding the market. It is due to the complicated manufacturing process and increased raw material costs in producing liquid silicone rubber products.
  • Nevertheless, the growing demand for medical devices and equipment is expected to drive the demand for liquid silicone rubber products in the region.

India Liquid Silicon Rubber Industry Segmentation

Liquid silicone rubber is a two-part platinum-cured elastomer ideally formulated to produce technical parts where strength, resistance, and high quality are desired. The product being very versatile in the elastomer industry is also used in various industries, like medical devices, consumer goods, automotive, etc. The liquid silicone rubber market is segmented by product type and end-user industry. By form product type, the market is segmented into food grade LSR, industrial grade LSR, and medical grade LSR. By end-user industry, the market is segmented into healthcare and medical devices, automotive, electrical and electronics, consumer goods, beauty and personal care, and other end-user industries. The report also covers the market sizes and forecasts for each segment's liquid silicone rubber market based on value (USD million).

Type
Food Grade LSR
Industrial Grade LSR
Medical Grade LSR
End-user Industry
Healthcare and Medical Devices
Automotive
Electrical and Electronics
Consumer Goods
Beauty and Personal Care
Other End-user Industries
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India Liquid Silicon Rubber Market Size Summary

The Indian liquid silicone rubber market is poised for significant growth, driven by its applications across various industries such as automotive, construction, electronics, and healthcare. The market experienced a downturn during the COVID-19 pandemic due to reduced demand from these sectors, but it rebounded as demand surged, particularly in the automotive and electronics industries. The increasing focus on food safety and hygiene is expected to boost the demand for liquid silicone rubber in the food processing and packaging sectors. However, the high cost of production, attributed to complex manufacturing processes and raw material expenses, poses a challenge to market expansion. Despite these challenges, the burgeoning healthcare sector, with its rising demand for medical devices and implants, is anticipated to be a key driver of market growth, supported by government initiatives like "Make in India" that promote domestic manufacturing.

In the electronics sector, liquid silicone rubber is integral to enhancing the performance and durability of components such as connectors, cables, and keyboards. India's electronics industry, a significant contributor to the country's GDP, is set to benefit from government investments and policies aimed at boosting manufacturing capabilities. The country's position as a leading hub for smartphone production further underscores the potential for growth in the liquid silicone rubber market. The market is characterized by a fragmented landscape with major players like Dow Corning, Elkem Silicones, and Shin-Etsu Chemical, among others, actively contributing to its development. Recent expansions and innovations, such as WACKER's new production site and Shin-Etsu's novel silicone rubber sheets, highlight the ongoing advancements and investments in the sector, positioning it for robust growth in the coming years.

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India Liquid Silicon Rubber Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Demand from Food Processing and Packaging Industries

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 High Raw Material Costs

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Food Grade LSR

      2. 2.1.2 Industrial Grade LSR

      3. 2.1.3 Medical Grade LSR

    2. 2.2 End-user Industry

      1. 2.2.1 Healthcare and Medical Devices

      2. 2.2.2 Automotive

      3. 2.2.3 Electrical and Electronics

      4. 2.2.4 Consumer Goods

      5. 2.2.5 Beauty and Personal Care

      6. 2.2.6 Other End-user Industries

India Liquid Silicon Rubber Market Size FAQs

The India Liquid Silicon Rubber Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)

Dow Corning India Private Limited, Elkem Silicones India Private Limited , Momentive Performance Materials India Private Limited , NuSil Technology India Private Limited and Shin-Etsu Chemical India Private Limited are the major companies operating in the India Liquid Silicon Rubber Market.

India Liquid Silicon Rubber Report Snapshots

India Liquid Silicon Rubber Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)