Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Automotive Silicone Market Research Report.
Automotive silicone improves the efficiency of the vehicle, by offering higher strength, better resistance, and greater durability. Market Research Future (MRFR) has published a research report about the global automotive silicone market that predicts growth for the market during the forecast period between 2022-2030.
During the forecast period, the most important factor that can aid the growth of the global automotive silicone market is increasing demand for durable, efficient, and lightweight, automotive across the globe. Other factors include government regulations regarding environmental protection, high disposable income, shifting trends of lifestyle, technological advancement, and lastly, increasing trend regarding usage of the electric & hybrid vehicle. Automotive silicone is useful for making parts of them.
The global automotive silicone market has been segmented on the basis of application, product, and lastly, region. Based on application, this market has been segmented into the electrical system, engine & drive train system, interior & exterior parts, and suspension system. The product-based segmentation segments the market into adhesives & sealants, elastomers, and resins.
The regional segmentation of the global automotive silicone market segments the market into continent-based regional markets known as North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa (MEA). The Asia Pacific is leading regional market among all markets. Here the market is strong due to high production & sales in the automotive sector and government regulations regarding pollution control. In this region, the automotive industry is growing rapidly in countries like China, India, and Japan. Other important markets in this region are Australia and New Zealand, followed by the rest of the Asia Pacific region.
North America is a rapidly growing regional market due to reviving automotive industry due to the demand for the fuel-efficient vehicle and the high disposable income. The most important country-specific markets in this region are the United States of America (USA) and Canada. In Latin America, the market is not as big as North America, but it is stable. The primary country-specific markets in this region are Argentina, Brazil, and Mexico, followed by the rest of Latin America.
According to the report, Europe is expected to witness significant growth during the forecast period due to the increased production and exportation of automotive parts in Western European countries such as Germany, the United Kingdom (UK) and others. Other important country-specific markets are France, Italy, Spain, Poland, and Russia. In the MEA region, the demand for a bio-based PET is majorly driven by the growing demand for automotive. The most significant country-specific markets in this region are Bahrain, Israel, Kuwait, North Africa, Oman, Qatar, Saudi Arabia, Turkey, and United Arab Emirates (UAE), followed by the rest of MEA region.
The key players in the global automotive silicone market include ACC Silicones Ltd (UK), Bostik (USA), CSL Silicone Inc. (Canada), Dow Corning Corporation (USA), Elkem Silicone (USA), Evonik Industries AG (Germany), Kaneka Corporation (Japan), Momentive (USA), KCC Corporation (South Korea), Nusil (USA), Rogers Corporation (USA), Shin-Etsu Chemical Co., Ltd. (Japan), and Wacker Chemie AG (Germany).
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