The global Automotive
Silicone Market is expected to reach USD 4.41 Billion by 2026,
according to a new report by Reports and Data. Silicones are used in various
ways to increase safety and reliability and to make automotive lighter and
environment-friendly. Silicones are crucial to the advancement of automotive
technology, due to a range of properties such as heat resistance, cold
resistance, water repellency, releasability, defoaming properties,
adhesiveness, and dielectric properties.
The growth of the market is
primarily driven by the spiraling demand for efficient, lightweight, and
durable vehicles worldwide. This may be attributed to shifting lifestyle trends
and high disposable income of automotive consumers. The product is extensively
consumed in the automotive sector for the production of windshield lining,
ignition sets, cables, airbag cushion coatings, and radiator seals, among
others.
Increasing demand for automotive
silicone from emerging economies is expected to propel the growth of the market
in the upcoming years. Easy availability of raw materials, cheap labor, and low
transportation cost, among others, are the factors which are causative of a
boost in the product demand in emerging economies.
To identify the key trends in the
industry, click on the link below:
Further key findings from
the report suggest
- By product type, rubber contributed to the largest
market share in 2018 and is expected to grow at a rate of 6.1% in the
forecast period. Rubber has many distinctive properties that makes it
useful in the automotive manufacturing industry. As automobiles are
exposed to varying temperatures and various chemicals, rubber becomes a
material of choice owing to its ability to withstand harsh environments.
- By automotive type, passenger vehicles held a larger
market share in 2018 and are likely to witness a growth rate of 6.6% in
the forecast period.
- By region, the Asia Pacific region dominated the
market in 2018 and is projected to have the fastest CAGR of 6.7% in the
forecast period. The market dominance of the Asia Pacific region is owing
to the easy availability of raw materials required in manufacturing
silicones, coupled with the growth of the automotive industry.
- Key participants include Wacker Chemie, Evonik, Elkem
Silicones, DowDuPont, Shin Etsu, ACC Silicones, KCC Corporation, Henkel Ag
& Co., Siltech, and Primasil Silicones, among others.
- In May 2019, KCC Corporation, a leading player in the
market, completed the acquisition of U.S.-based Momentive Performance
Materials Inc., global silicone manufacturer. With the acquisition, KCC
has a 45.5% stake in the company and plans to develop high value-added
business aiming at silicone as a major part of the company’s main
business, while also obtaining worldwide credibility and competitiveness
by its long-term insights and sound financial plans.
Request For FREE Sample Copy of This Research Report at: https://www.reportsanddata.com/sample-enquiry-form/1825
For the purpose of this report,
Reports and Data have segmented the global automotive silicone market on the
basis of product type, automotive type, application, and region:
Product Type Outlook (Volume,
Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Rubber
- Adhesives & Sealants
- Coatings
- Others
Automotive Type Outlook
(Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Passenger Vehicle
- Commercial Vehicle
Application Outlook
(Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Interior & Exterior
- Electrical Systems
- Engines
- Others
Regional Outlook (Volume, Kilo
Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
Read More Report of Polymers and Resins at: https://www.reportsanddata.com/report/category/polymers-and-resins
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