South America Liquid Silicone Rubber Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Grade and End Users

The liquid silicone rubber market in SAM is expected to grow from US$ 65.70 million in 2022 to US$ 88.03 million by 2028. It is estimated to grow at a CAGR of 5.0% from 2022 to 2028.

Increase in rise in chronic illnesses and improvements in active implanted medical devices, is anticipating the demand of liquid silicone rubber. Furthermore, rise in aesthetic surgeries is also drive the demand of medical implants. Medical devices and implants are inserted into the body through surgical procedures and can then be removed depending on the needs of the patient. Medical devices and implants are usually made of body tissues, ceramics, metals, and plastics and help to improve the patient's quality of life. Currently, increasing incidence of chronic diseases and increasing awareness of health products are positively affecting the demand for implantable medical devices across the globe. Liquid silicone rubber improves quality of medical devices, and their lifetime performance. Medical grade silicone molding is used to manufacture dental and surgical implants. The materials vary in terms of characteristics such as elasticity, strength, hardness and compatibility, and other properties. All these properties are increasing demand. One of the major factors driving the demand for implantable medical devices in India is inflation in disposable incomes along with improved healthcare infrastructure. Apart from this, the growing geriatric population which is more prone to health disorders is contributing to the growth of the market. Moreover, the growing awareness of cosmetic surgery is positively affecting the demand for these devices in the country. Additionally, the Indian government has approved several new implantable medical devices, which in turn are expected to propel the market forward in the coming years.

Market Overview

The SAM liquid silicone rubber market comprises Brazil, Argentina, and the Rest of SAM. This region's food processing and agriculture sectors are the key contributors to its economic development. Both sectors require liquid silicone rubber due to its various applications. Additionality the booming automotive, electrical & electronics, and construction industries are expected to drive the growth of liquid silicone rubber due to its wide array of applications in these industries. Also, Brazil, Venezuela, and Chile are the major oil-producing industries, and the production of oil and gas further anticipates the demand for industrial-grade liquid silicone rubber. Also, the emerging automotive industry demand gaskets, LED lights, tyres, and cushioning in the production of the vehicle. The use of high-temperature elastomers, epoxy resins, adhesives and sealants in the automotive industry is rising which is augmenting the demand for liquid silicon rubber. The use of liquid silicone rubber is quite appealing because they are highly purified and cost-effective, which opens great opportunities for revenue generation in the regional market. Moreover, Liquid silicone rubber is widely utilized in personal care products, including cosmetics, skincare, and hair care products, which is expected to propel market expansion in the region. Furthermore, it is projected that technical advancement, particularly in the areas of refining, sterilization, and ultra-purification, will provide the liquid silicone rubber industry with improved growth possibilities in the forecast period.

SAM Liquid Silicone Rubber Market Segmentation

The SAM liquid silicone rubber market is segmented into grade, end users, and country.

• Based on grade, the market is segmented into food, medical, and industrial. The medical segment registered the largest market share in 2022.
• Based on end users the SAM liquid silicone rubber market is segmented into healthcare, automotive, consumer goods, electricals and electronics, and others. The healthcare segment registered the largest market share in 2022.
• Based on country, the market is segmented into Brazil, Argentina, and Rest of SAM. Brazil dominated the market share in 2022. Avantor, Inc., CHT Germany GmbH, Dow Inc., Elkem Asa, KCC Silicone Corporation, Momentive, Shin Etsu Chemical Co. Ltd., and Wacker Chemie AG are the leading companies operating in the liquid silicone rubber market in the region.