CLEVELAND, July 19, 2018
CLEVELAND, July 19, 2018 /PRNewswire/ -- US demand for silicones in the medical market is forecast to rise 5.9% per year to $363 million in 2022. Ongoing technological development of new medical products, which expand the range of silicone applications, will support demand. Silicone offers a number of advantages for the medical market, including biological inertness, which discourages bacterial growth, and water resistance. Silicone is also biocompatible, which gives it an advantage over latex and PVC products. These and other trends are presented in Silicones Market in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
More information about this study is here: https://www.freedoniagroup.com/industry-study/silicones-in-the-us-by-product-market-and-function-9th-edition-3608.htm
Adhesives and sealants will expand their share of medical silicone demand, accounting for 27% in 2022. Adhesives that are gentler on skin for wound dressings and wearable devices offer growth opportunities for this segment.
Overall silicone demand in the US is forecast to rise 3.8% per year to $4.2 billion in 2022, improving on the 2012-2017 performance. Liquid silicone rubber (LSR) will continue to grow at a strong pace as more processors adopt production capabilities in response to a rapidly expanding range of applications. LSR is increasingly favored for automotive under-the-hood components and high clarity lighting, as well as medical tubing.
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Plastics & Other Polymers studies can be purchased at https://www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group
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