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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Scope Of Automotive Silicone Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Silicone Market Overview
Market Drivers –
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.
Market Trends –
Product innovation is a key trend gaining popularity in the automotive silicone market. Many companies operating in the automotive silicone market are developing new products with advanced technologies to strengthen their position in the market. For instance, in December 2022, Dow, a US-based chemical corporation company, launched SILASTIC™ SA 994X Liquid silicone rubber (LSR). It is a primerless, self-adhesive, general purpose, and self-lubricating, one-to-one mix ratio LSR developed for two-component injection moulding with thermoplastic substrates such as polybutylene terephthalate and polyamide. This new series can be employed in a variety of automotive applications.
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
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Regional Insights –
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
Key Companies –
Major companies operating in the automotive silicone market 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.
Table of Contents
1. Executive Summary
2. Automotive Silicone Market Report Structure
3. Automotive Silicone Market Trends And Strategies
4. Automotive Silicone Market – Macro Economic Scenario
5. Automotive Silicone Market Size And Growth
…..
27. Automotive Silicone Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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