Industries > Automotive > Global Automotive Silicone Market 2019-2029

Global Automotive Silicone Market 2019-2029

Global Automotive Silicone Market by Product (Rubber, Adhesives & Sealants, Coatings), by Application (Interior & Exterior, EDT System, Electrical System, Suspension Systems), Global Opportunity Analysis and Industry Forecast

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Market Definition:
• Silicones are high-performance polymers that are used in automotive industry to improve safety and reliability of the vehicles.
• Silicones possess characteristics such as heat resistance, cold resistance, defoaming properties, adhesiveness, weatherability, water repellency, and dielectric properties.
• Based on these characteristics, silicone helps to make vehicles light in weight, smaller in size, and more eco-friendly.

Market Overview and Trends
• With time, automobiles are being integrated with various simple and complex electronics and silicone is used to provide a protective shield around these technologically advanced tools that improve the driving experience.
• These electronic tools are designed to be smaller and more powerful and also are expected to be able to withstand environmental hostilities such as heat, dirt, moisture, chemical agents and mechanical stress.
• To protect the integrity of these components, silicone is used to effectively seal or encapsulate them.
• Moreover, silicone is not only used for manufacturing tools and accessories but is also considered to be an essential component when building an engine to ensure optimal engine performance.
• Currently, the engine technology is experiencing varied changes and advancements with respect to its design and processing technology.
• Development of hybrid engines have established themselves as an effective concept of the future.
• These modern engines require modern sealing technologies, and silicone grades are highly suitable for protection of these engines.

Market Dynamics:

Factors Influencing the Market Growth:
• Globally, the lifestyle trend is shifting towards adoption of luxury vehicles as disposable income in many of the developed and developing countries is increasing.
• Development of new and technologically advanced vehicles is mainly driving the automotive silicone market. Integration of advanced electronics and safety tools and accessories, growing production of automobiles, increasing demand for high efficiency and light weight vehicles, and favourable government regulations are some of the additional factors driving the growth of this market.
• Significant growth opportunities in the emerging markets are also contributing to the growth of automotive silicone market during the forecast period.

Factors Restraining the Market Growth:
• High production cost
• Increasing adoption of electric vehicles

Market Segmentation 2019-2029:

Product
• Rubber Market, 2019-2029
• Adhesives & Sealants Market, 2019-2029
• Coatings Market, 2019-2029
• Others Market, 2019-2029

Application
• Interior & Exterior Market, 2019-2029
• EDT System Market, 2019-2029
• Electrical System Market, 2019-2029
• Suspension Systems Market, 2019-2029
• Others Market, 2019-2029

Geographic breakdown
Focused regional forecasts and analysis explore the future opportunities:
• North America Market, 2019-2029
• Europe Market, 2019-2029
• Asia-Pacific Market, 2019-2029
• LAMEA Market, 2019-2029

Competitive Analysis:
• There are numerous established as well as emerging players in the automotive silicone market.
• In order to maintain their position in the market, these companies opted increased research and develop, new product launches and expansions as their key growth strategies.
• In July 2015 Dow Corning launched its high-performing new silicone technology for automotive electronics market.
• In December 2018, Wacker Chemie AG invested €100 million ($114 million) to expand its annual silicone-rubber production capacity.
• Such activities enable the companies to enhance their product offerings and gain a significant market share on global level.

Major Market Players:
DowDupont, Wacker Chemie, Shin-Etsu, Momentive Performance Materials, Rogers Corporation, Nusil, Bostik, Evonik Industries AG, KCC Corporation, and Elkem.

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CCR Ref number: KD4R6

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