Automotive Silicone Market Overview
Automotive Silicone Market is projected to be worth USD 4.8 Billion by 2030, registering a CAGR of 6.88% during the forecast period (2021 - 2030). Automotive silicone has outstanding features such as strength, resistance, and durability that help to improve vehicle efficiency. Silicone is the ideal choice in the automobile industry because of its resistance to abrasion, UV radiation, and chemicals. The growing demand for lightweight, efficient, and long-lasting automobiles is propelling the global automotive silicone market. This expansion can be ascribed to changing lifestyle trends and a high level of disposable income. Automotive silicones are used in a variety of applications in the automotive industry, including windshield lining, cables, ignition sets, airbag cushion coatings, and radiator seals. Furthermore, the automotive silicone provides load carrying, vibration suppression, and protective shock absorption to the seats and dashboards, enhancing vehicle comfort. It is also utilized in tire remolding and lubricants to improve engine performance and longevity. Furthermore, new technological breakthroughs such as the easy usage of silicone rubber with thermoplastics to improve scratch and mar resistance as well as decreased frictional coefficient are expected to drive market growth. During the forecast period, the rising popularity of electric and hybrid vehicles, as well as the use of silicone in their manufacturing, is expected to drive significant market expansion.
Global Automotive Silicone, by the application (%)
Source: MRFR analysis
The global automotive silicone market is segmented into five regions of Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Asia Pacific is the leading region in the global automotive silicone market on account of the high production and sales of automotive in the region. The growing automotive industry in Japan, India, and China is the major factor driving the growth of the global market. The major automotive manufacturers in Asia Pacific region include Toyota, Honda, Nissan, Ford, Hyundai, and others. Furthermore, government regulations concerning the reduction of CO2 emissions and for environmental protection are likely to augment the market growth.
The North American regional market is growing on account of reviving automotive industry. The demand for the fuel-efficient vehicle along with the high disposable income is anticipated to fuel the market growth in the region.
Europe is expected to witness a significant growth due to the increased production and exportation of automotive parts in western European countries such as Germany, U.K, and others.
The increasing production and sales of automotive in Brazil is the major factor driving the global automotive silicone market in the Latin American region.
The growing demand for automotive in the Middle East & Africa is likely to propel the market growth in the coming years.
The global automotive silicone market is segmented on the basis of the product, application, and region.
The global automotive silicone market is segmented on the basis of the product as elastomers, adhesives & sealants, resins, and others.
By the application, the global automotive silicone market is segmented into interior & exterior, electrical system, engine & drive train system, suspension system, and others.
Geographically, the global automotive silicone market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Some of the manufacturers operating in the global automotive silicone market are Wacker Chemie AG (Germany), Dow Corning Corporation (U.S.), Momentive (U.S.), Elkem Silicone (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), Rogers Corporation (U.S.), Nusil (U.S.), Bostik (U.S.), Evonik Industries AG (Germany), KCC Corporation (South Korea), ACC Silicones Ltd (U.K), CSL Silicone Inc. (Canada), and Kaneka Corporation (Japan).
Shin-Etsu Chemical Co., Ltd., a Tokyo-based chemical company, has developed novel silicone thermal interface materials for electric vehicles (EVs) and hybrid electric vehicles (HEVs) in January 2021. The demand for heat dissipation solutions for lithium-ion batteries and other electronic control systems is getting more diversified and sophisticated as autos become more electrified. Rogers Corporation announced the acquisition of Silicone Engineering Ltd., a prominent European manufacturer of silicone material solutions situated in Lancashire, UK, in October 2021. Rogers' current advanced silicones
platform is extended by Silicone Engineering. It provides Rogers with a European Center of Excellence to serve customers in the EV/HEV, Medical, Industrial, and other areas who require quality silicone solutions.
- Automotive silicone Manufacturers
- Traders and distributors of automotive silicone
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
| Market Size
|| 2030: 4.8 Billion
|| 6.88% 2030
| Base Year
| Forecast Period
| Historical Data
|| 2019 & 2020
| Forecast Units
|| Value (USD Million)
| Report Coverage
|| Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
| Segments Covered
|| By Product, Application and Region
| Geographies Covered
|| North America, Europe, Asia-Pacific, and Rest of the World (RoW)
| Key Vendors
|| Wacker Chemie AG (Germany), Dow Corning Corporation (U.S.), Momentive (U.S.), Elkem Silicone (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), Rogers Corporation (U.S.), Nusil (U.S.), Bostik (U.S.), Evonik Industries AG (Germany), KCC Corporation (South Korea), ACC Silicones Ltd (U.K), CSL Silicone Inc. (Canada), and Kaneka Corporation (Japan).
| Key Market Opportunities
|| The increasing trend for the usage of the electric and hybrid vehicle and the use of silicone in making parts of them is anticipated to offer substantial market growth during the review period.
| Key Market Drivers
|| The increasing demand for lightweight, efficient, and durable automotive across the globe.
Frequently Asked Questions (FAQ) :
The automotive silicone market is segmented based on application (suspension system, interior and exterior parts, engine and drive train system, and electrical system, and product (resins, elastomers, adhesives and sealants).
Asia Pacific will have the maximum share in the market during the forecast period.
Growing demand for lightweight automobiles, government regulations regarding environmental protection, growing trend for hybrid and electric cars, and technological advancements are adding to the growth of the automotive silicone market.
Notable players profiled in the automotive silicone market include Wacker Chemie AG (Germany), Shin-Etsu Chemical Co., Ltd. (Japan), Rogers Corporation (USA), Nusil (USA), KCC Corporation (South Korea), Momentive (USA), Kaneka Corporation (Japan), Evonik Industries AG (Germany), Elkem Silicone (USA), Dow Corning Corporation (USA), CSL Silicone Inc. (Canada), Bostik (USA), and ACC Silicones Ltd (UK).
Automotive silicone is widely used in the suspension system, drive train system and engine, exterior and interior parts, and electrical system.
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