Automotive Silicone Market Growth Outlook Through 2024-2033

Overview and Scope
Automotive silicone refers to high-performance polymers made up of siloxane that help to streamline assembly and ensure safety and quality for the lifecycle of the vehicle. It is used to improve safety and reliability, and to make automobiles lighter, smaller, and more eco-friendly.

Sizing and Forecast
The automotive silicone market market size has grown strongly in recent years. It will grow from $6.99 billion in 2023 to $7.51 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to automotive manufacturing growth, stringent emission standards, rise in consumer demand for comfort, increased vehicle electrification, performance and durability requirements..

The automotive silicone market market size is expected to see strong growth in the next few years. It will grow to $10 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to shift to electric and hybrid vehicles, advancements in lightweighting, demand for advanced safety features, autonomous vehicle development, environmental sustainability focus.. Major trends in the forecast period include integration in advanced interiors and electronics, expansion of coatings for exterior applications, development of silicone-based tires, emphasis on sustainable solutions..

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Segmentation & Regional Insights
The automotive silicone market market covered in this report is segmented –

1) By Type: Elastomers, Resins, Gels, Fluids
2) By Form: Sealant, Tape, Epoxy
3) By Application: Interior and Exterior, Engines, Electrical, Tires, Other Applications

Asia-Pacific was the largest region in the automotive silicone market in 2023. The regions covered in the automotive silicone market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Rising demand for fuel-efficient vehicles is expected to propel the growth of the automotive silicone market going forward. Fuel-efficient vehicles are vehicles that give better mileage per gallon of fuel than other less efficient models. Automotive silicones contribute to weight reduction in automobiles, which results in lower emissions of pollutants and increased fuel efficiency. For instance, in February 2021, according to The King Abdullah Petroleum Studies and Research Center(KAPSARC), a Saudi Arabia-based advisory think tank, consumer adoption of electric vehicles (EVs) – including hybrids, plug-in hybrids, and pure battery electric – is a critical step toward improving energy use and lowering emissions in the transportation industry, according to May 2022 published, Global EV Outlook report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, rising demand for fuel-efficient vehicles is driving the growth of the automotive silicone market.

Key Industry Players

Major companies operating in the automotive silicone market report are Wacker Chemie AG, Evonik Industries, Elkem Silicones, Shin-Etsu Chemical Co. Ltd., Momentive Inc., KCC Corporation, Henkel AG & Co. KGaA, Siltech Corporation, Primasil Silicones, ACC Silicones Ltd., CSL Silicone Inc., Rogers Corporation, NuSil Technology LLC, Bostik, Laur Silicone Inc., DOWSIL, CHT Group, Silicones Emerald Performance Materials, GELEST INC., Jiangsu Mingzhu Silicone Rubber Material Co. Ltd., Kaneka Corporation, DuPont de Nemours Inc., ARCOSILICONE.COM, Simtec Systems GmbH, Vanguard Products Corporation, BJB Enterprises Inc., Klinger IGI Inc., Polymershapes, Wacker Chemical Corp., Teknowate, Tempron Products Corp.

The automotive silicone market report table of contents includes:

1. Executive Summary

2. Automotive Silicone Market Characteristics

3. Automotive Silicone Market Trends And Strategies

4. Automotive Silicone Market – Macro Economic Scenario

5. Global Automotive Silicone Market Size and Growth

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31. Global Automotive Silicone Market Competitive Benchmarking

32. Global Automotive Silicone Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Automotive Silicone Market

34. Automotive Silicone Market Future Outlook and Potential Analysis

35. Appendix

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