Automotive Silicone Market Incredible Possibilities and Growth Analysis and Forecast To 2025
Automotive Silicone Industry Overview
The global automotive silicone market size is expected to reach USD 9.47 billion by 2025 growing at a CAGR of 6.4% over the forecast period, according to a new report by Grand View Research, Inc. Growing production of automobiles, especially lightweight vehicles, and stringent regulations pertaining to harmful emissions are the driving factors for the market. Silicones help reduce the overall vehicle weight, thus, possess vital importance in lightweight vehicles market. Factors, such as government regulations, high fuel consumption, increasing environmental concerns, and technological advancements are driving the lightweight vehicles market.
Automotive Silicone Market Segmentation
Grand View Research has segmented the global automotive silicone market on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into Rubber, Adhesives & Sealants, Coatings and Others.
- In terms of revenue, rubber was the largest segment in 2017 and this trend is expected to continue over the forecast period. Silicone rubber is widely used in a wide range of applications, especially in high-temperature applications in vehicles.
- Hence, despite its high cost, it is extensively used in electronic sealants, tires, and cables. Automotive silicone coatings offer temperature resistance up to 350 °C. With appropriate pigments and fillers, they can withstand temperatures up to 650 °C. They also have properties, such as scratch resistance, weathering resistance, slip, leveling, and wetting. Silicone-based coatings are also used in airbags as it protects the airbag fabric from heat.
Based on the Application Insights, the market is segmented into Interior & Exterior, Engine & Drive Train (EDT) Systems, Electrical System, Suspension System and Others.
- Interior & exterior and Engine & Drive Train (EDT) systems are the major applications of the product. The interior & exterior parts comprise various components, such as tires, meters, seat belts, seats, door panels, flooring, airbags, and instrumental panels.
- Characteristics, such as high-temperature resistance, flexibility in cold conditions, compatibility with dyes, and better grip, increase product usage in this segment. EDT systems were the second-largest application in 2017. The ability to preserve plastics, rubber, and leather makes silicones applicable in lubricants.
- High-temperature resistance of the product makes it ideal in EDT systems. Electrical systems are expected to witness the fastest growth over the forecast period. Good electrical conductivity makes silicones an ideal material in ignition spark plug boots and cables.
Automotive Silicone Regional Outlook
- North America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
- Central & South America
Key Companies Profile & Market Share Insights
The market is highly competitive. Companies are focusing more on R&D and new product development activities for strengthening their market position. For instance, in June 2018, Momentive Performance Materials, Inc. introduced SilGrip PSA810 to its portfolio of pressure-sensitive adhesives.
Some of the prominent players in the global automotive silicone market include:
- The Dow Chemical Company
- Wacker Chemie AG
- Momentive Performance Materials
- Shin-Etsu Chemical Co., Ltd.
Order a free sample PDF of the Automotive Silicone Market Intelligence Study, published by Grand View Research.