Press release
Automotive Silicone Market Market Anticipated To Witness Robust Growth, Surpassing $10.92 Billion By 2029
Automotive Silicone Market
What Is the Current Automotive Silicone Market Market Size and Its Estimated Growth Rate?
The Automotive Silicone Market Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Current Automotive Silicone Market Market Size and Its Estimated Growth Rate?
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How Are Emerging Segments Shaping the Automotive Silicone Market Market Landscape?
The automotive silicone market market covered in this report is segmented -
1) By Type: Elastomers, Resins, Gels, Fluids
2) By Form: Sealant, Tape, Epoxy
3) By Application: Interior and Exterior, Engines, Electrical, Tires, Other Applications
Subsegments:
1) By Elastomers: Silicone Rubber, Liquid Silicone Rubber (LSR), High-Temperature Vulcanized (HTV) Silicone
2) By Resins: Silicone Resins, Modified Silicone Resins, Alkoxy-Modified Silicone Resins
3) By Gels: Silicone Gels, Thermally Conductive Silicone Gels, Pressure-Sensitive Adhesive Silicone Gels
4) By Fluids: Silicone Fluids, Dimethyl Silicone Fluids, Phenyl Methyl Silicone Fluids
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Which Growth Factors Are Influencing Automotive Silicone Market Market Expansion?
The boost in the automotive silicone market is anticipated to be fueled by the increasing appeal of fuel-efficient vehicles. These vehicles, recognized for their superior mileage using less fuel compared to less economic models, encourage the use of automotive silicones. This is because these silicones help in reducing automobile weight, resulting in minimized pollutant emissions and amplified fuel efficiency. For example, data from the Internal Energy Agency, an autonomous intergovernmental organization based in France, in July 2023 showed that over 2.3 million electric cars were sold within the first three months of 2023. This was a 25% rise compared to the same timeframe in 2022. Projections for the end of 2023 anticipate sales to hit 14 million, a year-on-year increase of 35%. An accelerated growth is expected during the latter half of the year. Hence, the growth of the automotive silicone market is being spurred by the escalated demand for fuel-efficient vehicles.
Who Are the Dominant Players Across Different Automotive Silicone Market Market Segments?
Major companies operating in the automotive silicone market market include Evonik Industries, Elkem Silicones, Shin-Etsu Chemical Co. Ltd., Momentive Inc., KCC Corporation, Henkel AG & Co. KGaA, Siltech Corporation, Primasil Silicones, ACC Silicones Ltd., CSL Silicone Inc., Rogers Corporation, NuSil Technology LLC, Bostik, Laur Silicone Inc., DOWSIL, CHT Group, Silicones Emerald Performance Materials, GELEST INC., Jiangsu Mingzhu Silicone Rubber Material Co. Ltd., Kaneka Corporation, DuPont de Nemours Inc., ARCOSILICONE.COM, Simtec Systems GmbH, Vanguard Products Corporation, BJB Enterprises Inc., Klinger IGI Inc., Polymershapes, Wacker Chemical Corp., Teknowate, Tempron Products Corp.
What Are the Latest Developing Trends in the Automotive Silicone Market Market?
A major trend that is becoming more prevalent in the automotive silicone industry is product innovation. To establish their market standing, numerous companies operating in this sector are producing new products utilizing state-of-the-art technologies. For example, Dow, a chemical corporation based in the US, introduced SILASTIC SA 994X Liquid silicone rubber (LSR) in December 2022. This primerless, self-adhesive, general-purpose and self-lubricating LSR, designed for two-component injection moulding with thermoplastic materials such as polybutylene terephthalate and polyamide, can be used in diverse applications within the automotive sector.
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Which Geographic Regions Are Expected to Dominate the Automotive Silicone Market Market in the Coming Years?
Asia-Pacific was the largest region in the automotive silicone market in 2024. The regions covered in the automotive silicone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Silicone Market Market?
2. What is the CAGR expected in the Automotive Silicone Market Market?
3. What Are the Key Innovations Transforming the Automotive Silicone Market Industry?
4. Which Region Is Leading the Automotive Silicone Market Market?
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