What Has Been The Historical And Current Growth Of The Automotive Silicone Market Market?
The automotive silicone market market has seen considerable growth due to a variety of factors.
•The size of the automotive silicone market has experienced robust growth in the past few years. The market, which stood at $7.47 billion in 2024, is projected to increase to $8.03 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.5%.
Several factors have contributed to this growth during the historic period, including an uptick in automotive production, stricter emission standards, growing customer desire for comfort, the surge in vehicle electrification, and escalating requirements for performance and durability.
What Is The Forecast For The Automotive Silicone Market Market By 2029?
The automotive silicone market market is expected to maintain its strong growth trajectory in upcoming years.
• The market for automotive silicone is predicted to experience a significant increase in the coming years, expanding to $10.92 billion in 2029 with a compound annual growth rate (CAGR) of 8.0%.
This expected growth during the forecast period can be linked to the transition to electric and hybrid vehicles, advancement in lightweight technology, the need for enhanced safety features, the progress in autonomous vehicle development, and focus on eco-friendly solutions. During the forecast period, major trends are likely to include integration with advanced interiors and electronics, the growth in coatings for exterior applications, creation of silicone-based tires, and emphasis on sustainable solutions.
Which Drivers Are Accelerating Growth In The Automotive Silicone Market Market?
The automotive silicone market is projected to expand due to the increasing demand for fuel-efficient vehicles. These vehicles provide improved mileage compared to other less efficient alternatives. Automotive silicones help reduce the weight of vehicles, leading to decreased pollutant emissions and enhanced fuel-efficiency. As an example, in July 2023, over 2.3 million electric cars were sold in the first quarter as reported by the Internal Energy Agency, an independent organisation based in France. This represents a 25% growth from the same period in 2022. By the close of 2023, sales are predicted to hit 14 million, marking a 35% annual growth rate, with a heightened growth pace in the year's latter half. Consequently, the burgeoning demand for fuel-efficient vehicles is fuelling the expansion of the automotive silicone market.
What Are The Core Segments Of The Global Automotive Silicone Market Market?
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
Subsegments:
1) By Elastomers: Silicone Rubber, Liquid Silicone Rubber (LSR), High-Temperature Vulcanized (HTV) Silicone
2) By Resins: Silicone Resins, Modified Silicone Resins, Alkoxy-Modified Silicone Resins
3) By Gels: Silicone Gels, Thermally Conductive Silicone Gels, Pressure-Sensitive Adhesive Silicone Gels
4) By Fluids: Silicone Fluids, Dimethyl Silicone Fluids, Phenyl Methyl Silicone Fluids
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Which Emerging Trends Are Reshaping The Automotive Silicone Market Market Size?
The trend of product innovation is increasingly being embraced in the automotive silicone market. Numerous firms in this market are producing new items using advanced technologies to solidify their market status. For example, Dow, a chemical corporation based in the United States, introduced SILASTIC SA 994X Liquid Silicone Rubber (LSR) in December 2022. This primerless, self-adhesive, general-purpose, and self-lubricating LSR with a one-to-one mix ratio was created specifically for two-component injection molding alongside thermoplastic substrates like polybutylene terephthalate and polyamide. This innovative series holds potential for a multitude of automotive applications.
Who Are the Key Players in the Automotive Silicone Market Market?
Major companies operating in the automotive silicone market market include:
• 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.
What are the Regional Insights into the Automotive Silicone Market Market?
Asia-Pacific was the largest region in the automotive silicone market in 2024. The regions covered in the automotive silicone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
