Home> News> Over 2024-2036Liquid Silicone Rubber Market size is expanding at around 9.1% CAGR

Over 2024-2036Liquid Silicone Rubber Market size is expanding at around 9.1% CAGR

August 23, 2024
Global Market Size, Forecast,  and Trend Highlights Over 2024-2036Liquid Silicone Rubber Market size was valued at USD 3.27 Billion in 2023 and is likely to reach USD 10.15 Billion by 2036, expanding at around 9.1% CAGR during the forecast period i.e., between 2024-2036.
 
The liquid silicone rubber market size is valued at $3.27 billion in 2023 and may reach $10.15 billion by 2036, with a CAGR of about 9.1% during the 2024-2036 forecast period, i.e. 2024-2036.
In the year 2024, the industry size of liquid silicone rubber is estimated at USD 3.54 Billion.
 
 
This growth of the sector is estimated to rise on account of the growing demand for wearable technology such as  smartwatches.
 
 
For instance, by the end of 2023,  there are estimated to be approximately 223 million people using smartwatches all around the world.
 
Hence, the demand for liquid silicone rubber is growing.
 
For such devices, liquid silicone rubber (LSR) is a crucial component.
 
LSR has many advantages, including a smooth, tactile texture that prevents skin irritation from prolonged skin contact operations, and consistent sealing properties in fluid path applications that inhibit leachable and extractable permeability.
 
In addition, with the increase in the obese population, the demand for smart wearable devices will also further drive the growth of the liquid silicone rubber market.
 
According to the World Health Organization, more than 1 billion people worldwide will be obese by 2022, including 650 million adults, 340 million adolescents and 39 million young children.
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