Press release
Automotive Silicone Market By Product Type, Influential Trends, Market Potential, Segmentation and the Challenges, and Forecast To 2025
Global Automotive Silicone Market
Global Automotive Silicone Market to reach USD 3.9 billion by 2025.
Global Automotive Silicone Market valued approximately USD 2.2 billion in 2017 is anticipated to grow with a healthy growth rate of more than 7.35% over the forecast period 2018-2025. The automotive battery sensor market is driven by the increasing demand of automotive products followed by growing adoption of automotive silicones to reduce vehicle weight for increasing fuel economy.
The automotive silicone market is experiencing significant growth across the world globe owing to increasing adoption of silicones in automotive parts for reducing vehicle weight and make it more durable and efficient. According to the report of Global Silicone Council in 2016, annually around 117,000 tons of silicone product is used in the transport sector across the globe, that includes automotive, marine and others. Additionally, plastic additives, resin elastomers, Silicone rubber, sealants, and lubricants are widely used in the automotive sector, owing to their durability, strength and adhesion. Silicones also contribute safety in modern vehicles, from enabling airbags in cars. The automotive silicone market is also growing owing to rising demand for durable and lightweight materials in the automotive industry for enhancing the durability and efficiency of vehicles.
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On the basis of segmentation, the Automotive Silicone market is segmented into type and application. The type segment is categorized into Elastomers, Resins, Gels, and Fluids. Application segment is divided into Interior & Exterior, Engines, Electrical, and Others. Interior & Exterior is further segmented into Airbags, Exhaust Hangers Exterior Trim, Headlamp, Hoses, Interior Trim, Membrane, Shock Absorbers, and Grommets. Engines are further categorized into Sealing, Potting & Bonding, Filtration, Gaskets, Radiator Seals and Vibration Dampening. Electrical segment is divided into Power Transmission, Damping & Insulation, Ignition Cables, Sparkplug Boots, Ev Battery Seals, Ht Cables, Connectors and Ev Battery Seals and other segment is further segmented into Paint & Plastic Polishes, Sheathing & Protecting, Ventilation Flaps, Rain and Distance Sensors, Break-Protection Caps and Molds & Prototypes. The Interior & exterior segment is anticipated to dominate the Automotive Silicone market considering the forthcoming years and the global scenario.
The regional analysis of Global Automotive Silicone Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Asia Pacific is the fastest growing region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is also anticipated to be the dominating region over the forecast period 2018-2025.
The leading market players mainly include-
• Wacker Chemie
• Evonik
• Elkem Silicones
• Dowdupont
• Shin Etsu
• Momentive Performance Materials
• KCC Corporation
• Henkel AG & Co.
• Siltech
• Primasil Silicones
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Target Audience of the Global Automotive Silicone Market in Market Study:
• Key Consulting Companies & Advisors
• Large, medium-sized, and small enterprises
• Venture capitalists
• Value-Added Resellers (VARs)
• Third-party knowledge providers
• Investment bankers
• Investors
In this study, the years considered to estimate the market size of Global Automotive Silicone are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
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