Global Medical Grade Silicone Market, By Form (Gels, Medical Adhesives, Medical Coatings, Elastomers, Others), Application (Prosthetics, Orthopedic Components, Medical Devices, Medical Tapes, Contact Lenses, Others), Geography (North America, Europe, Asia Pacific, South America, Middle East and Africa) Industry Trends and Forecast to 2025
Silicone is a profoundly adaptable engineered polymer that offers its products from cooking utensils and glues to sealants and beauty care products. Its unique properties such as biocompatibility and versatility play an integral part in medical technology. They are a group of elite materials that incorporate silicone polymers, silanes and siloxanes from which silicone items are determined. They are well accepted by the human skin and body, so they encourage healing, enhance the presence of existing scars and lessen discomfort and this will be beneficial in the growth of the market. They also decrease patient risk by providing life upgrading devices.
As the world population is growing with the high pace the need for an implantable device is also growing. With the increasing age, the person is more prone to chronic and restorative diseases. To help cope with these diseases, new silicone products are being launched to provide humans with good healthcare. The increasing use of the implantable devices such as heart implants, hip inserts and coronary stunts are driving the growth of the market.
Global medical grade silicone market is projected to register a healthy CAGR of 6.0% in the forecast period of 2018 to 2025.
Market Segmentation: Global Medical Grade Silicone Market
The Global medical grade silicone market is segmented into two segments such as form and application.
- On the basis of form, the market is segmented into five notable segments; gels, medical adhesives, medical coatings, elastomers and others. Gels are further sub-segmented into soft skin adhesives and others. Medical adhesives are sub-segmented into pressure sensitive adhesives and others. Medical coatings are sub-segmented into hydrophobic and hydrophilic. Elastomers are sub-segmented into liquid silicone rubber and high consistency rubber. Others segment is sub-segmented into API’s, excipients, foams, emulsions, dispersions and others.
- In July 2014, Momentive Performance Materials Inc. (U.S) has commissioned liquid silicone rubber production in Rayong that will serve customers throughout Asia in the energy, automotive, aerospace, healthcare and consumer products industries.
- On the basis of application, the market is segmented into six notable segments; prosthetics, orthopedic components, medical devices, medical tapes, contact lenses and others. Prosthetics is sub-segmented into limbs and implants. Medical devices are sub-segmented into medical electronics, device assemblies & fittings, medical tubes, medical rings and gaskets, catheters and miscellaneous accessories. Miscellaneous accessories are further sub-segmented into masks, bottles, trays and others. Medical tapes are sub-segmented into wound care, drug delivery, personal hygiene and others. Others is sub-segmented into topical gels, surgical drapes and oral care products.
- In April 2014, Saint-Gobain Performance Plastics Inc. (U.S.) launched two products named NORBOND A7200 and NORBOND A7300. These are double-sided acrylic bonding tapes that offers high performance. These can bond securely uneven surfaces. The new product launch resulted in enhancement of the product portfolio for grade silicone business
Competitive Analysis: Global Medical Grade Silicone Market
Some of the major players operating in this market are Dow Corning Corporation, Wacker Chemie Ag, 3M, Shin-Etsu Chemical Co. Ltd, Nusil Technology Llc, Momentive Performance Materials Inc., Specialty Silicone Fabricators, Inc, Zodiac Coating, Wynca Group, Primasil Silicones Limited, Kibaru Manufacturing Sdn Bhd, Finesse Medical Ltd, Stockwell Elastomerics Inc., Saint-Gobain Performance Plastics, Apple Rubber Products, among others.
- In October 2016, merger of Avantor performance materials and NUSIL was completed. This merger was done to provide services for significant growth opportunities related to the market. It will innovate high quality material and products to meet the customer requirements.
- In May 2017, Saint-Gobain Performance Plastics Inc. (U.S.) signed purchase agreement with Biolink (Germany), a manufacturer of specialty adhesive tapes. This acquisition will enhance the company’s to accelerate the growth of Saint-Gobain's performance plastics business in the fast growing adhesives market, and in solvent-free acrylic resin adhesive tapes product portfolio.
Research Methodology: Global Medical Grade Silicone Market
Primary Respondents: key industry participants, subject-matter experts (SMEs), C-level executives of key market players, Market Intelligence Managers, National Sales Managers and industry consultants.