The automotive silicone market is a multi-billion dollar industry, playing a crucial role in the performance and efficiency of modern vehicles. Silicones find extensive use in seals, gaskets, hoses, electrical insulation, and various other components, thanks to their exceptional heat resistance, durability, and resistance to chemicals. The market is projected to grow steadily in the coming years, driven by factors like increasing vehicle production, rising demand for electric vehicles, and stricter emission regulations.
Strategies Adroitly Adopted:
Factors Driving Market Share:
Key Players
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 Developments:
July 2023: Dow launches a heat-resistant silicone specifically designed for high-voltage battery packs in electric vehicles, aiming to improve thermal management and safety.
August 2023: Momentive Silicones unveils a novel lightweight silicone composite for automotive body panels, reducing vehicle weight and enhancing fuel efficiency.
September 2023: Wacker Chemie partners with a university research lab to develop self-healing silicone coatings for car exteriors, potentially reducing repair costs and maintenance needs.
October 2023: Elkem expands its production capacity for bio-based silicones to meet the growing demand for sustainable solutions in the automotive industry.
November 2023: Evonik collaborates with a start-up to develop conductive silicone gaskets for electric vehicle charging stations, enabling faster and more efficient charging.
Automotive Silicone Market Highlights:
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