Automotive Silicone Market Size, Competitive Landscape, Overview, Future Outlook And Global Forecast (2024-2033) | Wacker Chemie AG, Evonik Industries, Elkem Silicones, Shin-Etsu Chemical Co. Ltd., Momentive Inc.

The Automotive Silicone Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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The insights gleaned from The Business Research Company’s Automotive Silicone Global Market Report 2024 illuminate a robust trajectory in the automotive silicone market. With a notable surge, the market size has escalated from $6.99 billion in 2024 to a projected $7.51 billion in the same year, showcasing a commendable compound annual growth rate (CAGR) of 7.5%. This growth emanates from several factors, including the expansion of automotive manufacturing, adherence to stringent emission standards, heightened consumer demand for comfort, and the burgeoning adoption of vehicle electrification to meet performance and durability requisites.

Projections unveil a promising outlook for the automotive silicone market, anticipating a substantial expansion to $10 billion by 2028, driven by a CAGR of 7.4%. The forthcoming growth trajectory is underpinned by the transition towards electric and hybrid vehicles, advancements in lightweighting technologies, escalating demand for advanced safety features, the evolution of autonomous vehicle technologies, and an escalating emphasis on environmental sustainability initiatives. Notable trends in the forecast period encompass the integration of silicone in advanced interiors and electronics, the proliferation of coatings for exterior applications, the emergence of silicone-based tires, and a concerted focus on sustainable solutions.

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.

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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

Top 5 Major Players:

• Wacker Chemie AG
• Evonik Industries
• Elkem Silicones
• Shin-Etsu Chemical Co. Ltd
• Momentive Inc

…..

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

List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Automotive Silicone Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Automotive Silicone Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Automotive Silicone Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

…

Table 74: Wacker Chemie AG Financial Performance
Table 75: Evonik Industries Financial Performance
Table 76: Elkem Silicones Financial Performance
Table 77: Shin-Etsu Chemical Co. Ltd. Financial Performance
Table 78: Momentive Inc. Financial Performance

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