Opportunities for liquid silicone rubber in the medical market are plentiful and 2017 should be another busy year for contract manufacturers.
Demand for LSR in medical is one of the fastest growing segments of the overall silicones market, according to Kent Furst, an analyst with the Freedonia Group who covers the silicones industry. Furst projects segment growth at 7-8 percent per year during the next five years with double-digit growth in Asia.
Health care spending in Asia is increasing by more than 10 percent per year.
“LSR technology is not as widespread in Asia as it is in the U.S., which is both a challenge and an opportunity,” Furst said in an email.
Bob Waitt, medical market manager for Bluestar Silicones, said LSR is perfect for molding high volume parts or requiring precise and specific parts thanks to the injection molding process, which allows producers to automate the process much like in thermoplastics — efficient and repeatable.
For a full version of this and other stories, check out Crain's new publication LSR World.