New product launches is the key strategy adopted by industry players to strengthen their positions in the global Liquid Silicone Rubber (LSR) market. This strategy accounted for 55.36% of all the growth strategies adopted by market players between 2011 and 2016. Companies adopted the investments & expansions strategy to strengthen their product portfolios, which accounted for 33.93%, and the collaborations, joint ventures, and partnerships strategy, which accounted for 7.14% of all the growth strategies adopted by market players in the LSR market.
The Asia-Pacific and European regions were the most active, in terms of strategic initiatives undertaken between 2012 and 2016. Expansions was the most favored strategy in the Asia-Pacific region between 2011 and 2016. Most of the companies have established distribution networks and R&D centers in this emerging market. Companies have adopted both, organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product launches to strengthen their positions in the global LSR market.
The global LSR market is semi unorganized. Thus the major players of the market consolidate to only 50.0% of the total LSR market. Dow Corning Corporation (U.S.) is the leading player in the global LSR market and accounted for an 18% market share between 2011 and 2016. Dow Corning is a wholly owned subsidiary of Dow Chemical Company. It offers liquid silicone rubber products for the construction, energy, electronics, beauty & personal care, health care, transportation, manufacturing, textiles, paper, paints & coatings, and other processing industries. The company launched its new Dow Corning QP1-2XX LSR product line, Silastic Q7-78XX a biomedical grade LSR, and C6- 7XX LSR, in 2015.
Wacker Chemie AG (Germany) has gained a strong foothold in the global LSR market. It is focusing on organic growth and has enhanced its product portfolio in the LSR market through various growth strategies, such as expansions and joint ventures, to meet the growing demand from customers. Wacker launched SILPURAN 6760/50, a self-adhesive having low-friction surface, in 2016. This product is used for manufacturing hard and soft components for medical and pharmaceutical applications. Wacker has a good hold in the LSR market and is growing with the goal to attain the leading position. The company has established new plants to increase its production capacity, and is striving to develop new and innovative products to comply with the changing needs.
Liquid Silicone Rubber Market by Grade (Industrial, Medical, Food), Application (Automotive, Medical (Implants, Medical Devices), Electrical & Electronics (Insulation, and Electrical & Optical), Consumer Goods), Region - Global Forecast to 2026
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