ID: MRFR/CnM/4372-HCR | 100 Pages | Author: Priya Nagrale | October 2023
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).
Recent Development
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: 4.8 Billion |
CAGR | 6.88% 2030 |
Base Year | 2021 |
Forecast Period | 2021-2030 |
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. |
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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