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Automotive Airbag Silicone Market Insights| Key Players: Dow (US), Elkem Silicones (France), Shin-Etsu Chemical Co., Ltd. (Japan), Wacker Chemie AG (Germany), and Momentive (US).

01-28-2022 12:31 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Automotive Airbag Silicone Market Insights| Key Players: Dow

The global Automotive Airbag Silicone Market size is projected to grow from USD 239 million in 2020 to USD 534 million by 2025, at a 17.5% CAGR.

Growing awareness around and demand for safety features, as well as government initiatives regarding vehicle and passenger safety, are expected to drive the growth of the airbag and automotive airbag silicone markets.

The curtain/side segment is estimated to be the largest market during the forecast period

The curtain/side segment is estimated to dominate the automotive airbag silicone market by Airbag position in 2020. Designed to help protect an adult's chest in a serious side-impact crash, and in the event of a rollover, these airbags are mounted on the side of the seat or the door, usually on the roof rail above the side windows. Side airbags are estimated to reduce serious chest injuries in side-impact collisions by approximately 25%. Curtain/side airbags form a cushion between the occupant and the window, which helps protect the occupant's head from striking the side of the car. Improved lifestyles and rising disposable income, high vehicle production and sales rates, and increasing awareness about rollover impact fatalities have helped support market growth in this region

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The passenger cars segment is projected to be the largest market during the forecast period

Passive safety systems such as airbags are installed in passenger cars to reduce impact and save occupant lives during accidents. Due to the benefits of airbags and the increasing number of road accidents, governments worldwide are increasingly encouraging the use of airbags to enhance safety in vehicles. This growth in passenger car airbag demand has driven the requirement for automotive airbag silicone from the passenger car segment over the years. Moreover, with recent mandates in developing countries for airbags and expected mandates from countries including China and the US for curtain/side airbags, airbags' penetration is expected to reach up to five to seven airbags per vehicle. This growth is expected to raise the demand for airbag silicone and result in the passenger car segment dominating the global automotive airbag silicone market.

North America is estimated to be the second-largest market

The North American region includes the US and Mexico. The presence of leading airbag fabric manufacturing companies—including Toray Industries Inc, Porcher Industries, Mid Mountain Materials (US), Global Safety Textiles, UTT Technische Textilien GmbH & Co kg, and TOYOBO Co. Ltd.—is currently driving the demand for automotive airbag silicone in the region. Several airbag fabric and silicone supplier companies are concentrated in Mexico to achieve cost-efficient manufacturing, making the country the largest North American market for automotive airbag silicone. The North American Free Trade Agreement (NAFTA) between the US and Mexico enables the Mexican airbag fabric and silicone provider companies to cater to the US airbag and automotive markets while achieving the economic advantages of manufacturing in Mexico.

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The Asia Pacific is estimated to be the largest market throughout 2025

The regional growth can be attributed to higher production in countries including China, Japan, South Korea, and Thailand due to cost-effectiveness and regional airbag companies maximizing their presence to minimize supply chain costs. On the other hand, countries like India are majorly dependent on outsourcing to meet the demand for fabric and automotive airbag silicone due to the lack of suppliers' presence.

The high number of road accidents and related fatalities and increasing consumer concerns over safety are the major factors driving the demand for automotive airbags in the Asia Pacific. Additionally, countries in the Asia Pacific are coming up with stringent rules and regulations to reduce road fatalities. For instance, in 2019, the Indian Ministry of Road Transport and Highways mandated installing airbags in all four-wheelers that come off the production line after July 1, 2019. The expected increase in demand for airbags in India and the ASEAN countries is likely to fuel the expansion of airbag fabric manufacturers and silicon providers and further drive the automotive airbag silicone market.

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