Market Size of India Liquid Silicon Rubber Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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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.
