Medical Grade Silicone Market Is Expected To Grow At A CAGR Of 5.8% By 2033

Posted on 2023-06-15 by Fact.MR in Chemicals // 0 Comments

Rockville, United States, 2023-Jun-15 — /EPR Network/ —

Based on the analysis by Fact.MR, the global medical-grade silicone market is estimated to be valued at US$ 2.0 billion in 2023 and it is expected to grow at a CAGR of 5.8% to reach US$ 3.5 billion by the end of 2033. Silicone, a certified polymer widely used in the medical sector, is playing a pivotal role in the production of diverse medical devices. Its remarkable properties, including sustainability, durability, and longevity, are driving its high adoption within the medical industry. Growing requirements from sectors such as scuba gear manufacturing and baby bottle production are expected to further bolster the market growth of medical-grade silicone.

The offer in this portion accompanies many open doors including fabricating items, appropriation, retail, and showcasing administrations. Broad rounds of essential and far reaching optional exploration have been utilized by the examiners at Fact.MR to show up at different assessments and projections for Demand of Medical Grade Silicone Market both at worldwide and provincial levels.

Download a Sample Copy of This Report: –https://www.factmr.com/connectus/sample?flag=S&rep_id=5439?PJ

Market Players: –

3M
Avantor
Dow Corning
DuPont
Elkem
Evonik
KCC Group
Momentive Performance Material
Shin-Etsu
Wacker- Chemie

Eminent Player’s Key Stratagems

Leading companies in the medical-grade silicone sector are utilizing various approaches like research and development (R&D) and expanding their production capabilities to foster worldwide market growth.

They are implementing inorganic tactics, such as collaboration and mergers & acquisitions, to enhance their production capacity and establish a foothold in untapped markets. These strategies play a vital role in enabling companies to stay ahead of the competition, meet evolving customer requirements, and take advantage of emerging prospects.

For example :

In 2021, 3M launched a new 3M silicone adhesive to improve medical devices intended for people with fragile skin. The company launched a new class of silicone adhesives that balances strength, flexibility, and comfort.
In 2021, DuPont increased research and development spending to around US$ 618 million. The company’s goal is to gain 30% of its sales from new products and 25% from existing products
In 2021, Elkem announced a strategic investment plan to unlock new specialty silicone supply for customers in Europe, the Middle East and Africa (EMEA) and the Americas. The company will invest around US$ 39.0 Mn to upgrade its silicone upstream plant in Roussillon, France
In 2021, Momentive Performance Material announced acquisition of KCC Corporation’s Silicone business, to strengthen its global capabilities in advanced silicone based products.

What Do You Get in a Fact.MR Study?

Factors affecting the overall development of the global Medical Grade Silicone Market
Factor that might restrain the growth of the global market in the coming years of the forecast period.
What is present competitive scenario of the global Medical Grade Silicone Market and its intricate details concerning potential business prospects of leading market players
Pricing strategies of several different market players in the global Medical Grade Silicone Market

Segmentation of Medical Grade Silicone Industry Research

By Product Type :
- Rubber
  - Liquid Silicone Rubber (LSR)
  - High Consistency Rubber (HCR)
  - Flurosilicone Silicone Rubber (FSR)
  - Room Temperature Vulcanize (RTV)
- Adhesives
- Gels
- Fluids
By Application :
- Implants Manufacturing
- Device Component Production
- Medical Tape Production
- Menstrual Cups & Discs Production
- Scuba Gear Manufacturing
- Baby Bottle Production
- Others

Regional analysis includes

North America (U.S., Canada)
Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
CIS & Russia
Japan
Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)

Customize this report for your specific research solution:https://www.factmr.com/connectus/sample?flag=RC&rep_id=5439?PJ

How Fact.MR Assists in Making Strategic Moves?

The data provided in the Medical Grade Silicone Market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.

The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

Matched content

Editor’s pick