Expanding Liquid Silicone Rubber Market Expected to Reach a 9.2% Growth Rate by 2034
In the global Liquid Silicone Rubber (LSR) market, healthcare and medical devices led the way in 2024 with a 38.3% share [1]. This dominance is due to the widespread use of LSR in the healthcare sector for creating safe, biocompatible products such as catheters, surgical tools, and implants.
The growth in the medical device segment is driven by innovations in medical procedures and wearable devices, which is expected to continue. By 2034, the LSR Market in North America is projected to experience significant growth, primarily driven by demand from medical devices, automotive manufacturing, electronics, and construction applications [1].
The U.S., in particular, leads in the LSR market due to its advanced manufacturing and widespread use of LSR in engine seals, medical tubing, and electronic insulation. Compliance with regulatory standards from the FDA and the European Food Safety Authority (EFSA) further solidifies LSR's position as a preferred material.
Key factors driving the growth of the LSR market in North America include the boom in automotive manufacturing, medical device innovation, electronics miniaturization, construction sector demand, technological advances, and increased demand for LSR in food-grade products like kitchenware, baby products, and medical devices [1].
In 2024, Industrial Grade LSR dominated the global LSR market with a 48.2% share [2]. Seals, gaskets, and O-Rings commanded a 35.8% share of the global LSR market [2].
Major players in the LSR market are continuously innovating to improve the material. For instance, Elkem is investing in bio-based silicones, CHT Germany GmbH has introduced innovative LSR additives to enhance processing efficiency and mechanical properties, and Dow launched SILASTIC LS-2980 LSR, offering superior flow properties for complex thin-wall molding in medical and consumer goods [2].
In North America, the LSR Market had a USD 2.3 billion value in 2024 [3]. Liquid Injection Molding led the global LSR market with a 72.1% share in 2024 [3].
Looking ahead, North America, in 2025, is expected to continue its dominance in the global LSR market [4]. The segment of the LSR Market related to medical devices and hospitals is projected to see sustained growth [4]. Avantor, Inc. has expanded its high-purity LSR offerings for medical and pharmaceutical applications, focusing on biocompatibility and sterilization resistance [4].
Elkem ASA has introduced Silbione LSRs with enhanced UV resistance for outdoor applications like solar panel seals [5]. These developments indicate a promising future for the LSR market in North America, with the market expected to reach USD 5.5 billion by 2034, growing at a CAGR of 9.2% during the 2025-2034 forecast period [1].
References:
[1] MarketsandMarkets
[2] Grand View Research
[3] Allied Market Research
[4] Smithers Rapra
[5] Elkem
