Global Automotive Silicone Market Size Study & Forecast, By Type (Elastomers, Resins, Gels, Others), By Application (Interior and Exterior, Engines, Electrical Systems, Others), and Regional Analysis, 2023-2030

Global Automotive Silicone Market Size Study & Forecast, By Type (Elastomers, Resins, Gels, Others), By Application (Interior and Exterior, Engines, Electrical Systems, Others), and Regional Analysis, 2023-2030

Global Automotive Silicone Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Automotive silicone is a type of silicone material specifically designed for use in automotive applications. Silicone itself is a versatile polymer made primarily of silicon, oxygen, carbon, and hydrogen. Silicone can withstand high temperatures without degrading, making it suitable for parts exposed to engine heat. Also, it remains flexible across a wide temperature range, allowing it to accommodate thermal expansion and contraction in engine components. Moreover, the growing demand for lightweight materials in automobiles, rising vehicle production, and growing automotive aftermarket are anticipated to create a lucrative demand for the market during the forecast period 2023-2030.

Additionally, growing global demand for automobiles, particularly in emerging markets, is driving the need for automotive silicone. As vehicle production increases, so does the demand for silicone-based components such as seals, gaskets, and hoses. According to the International Organization of Motor Vehicle Manufacturers, in 2020 the number of passenger cars produced in China was 19994081 units and the number reached 21407962 units in 2021. Also, according to the same source, in 2021 the number of cars and commercial vehicles manufactured was 288235 and 826767 respectively and the number increased significantly and reached 289371 and 939364 in 2022. As a result, the rising vehicle production is anticipated to create a lucrative demand for the market. Moreover, the growing demand for electric and hybrid vehicles and technological advancements in silicone products are anticipated to create a lucrative opportunity for the market. However, the fluctuating raw material prices and supply chain challenges in the automotive silicone market stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Automotive Silicone Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing demand for electric vehicles, growing automotive manufacturing, increasing consumer awareness of safety and comfort features, and rising demand for electric and hybrid vehicles. Whereas the Asia Pacific is expected to grow with the fastest growth rate during the forecast period, owing to factors such as rising automotive production, stringent emission regulations, growing demand for electric vehicles, and growing expansion of automotive manufacturing facilities in the region.

Major market players included in this report are:
Elkem ASA
Siltech Corporation
KCC Corporation
DowDuPont (now known as DuPont de Nemours, Inc.)
Shin-Etsu Chemical Co., Ltd.
Primasil Silicones Limited
Momentive Performance Materials Inc.
Henkel AG & Co. KGaA
Evonik Industries AG
Wacker Chemie AG

Recent Developments in the Market:
 In December 2022, Dow introduced a new series of liquid silicone rubber tailored for diverse automotive applications. These applications span from connector seals, battery vent gaskets, and radiator gasket seals for electric and hybrid vehicles, to environmental protection seals for lidar and radar housing in autonomous vehicles.

Global Automotive Silicone Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Type, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Elastomers
Resins
Gels
Others
By Application:
Interior and Exterior
Engines
Electrical Systems
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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