Press release
Strategic Forecast for the Automotive Silicone Market Industry: Market Outlook 2025-2034
Automotive Silicone Market
Automotive Silicone Market Market Size Growth Forecast: What to Expect by 2025?
The market size of automotive silicone has been showing significant growth in the preceding years. The valuation is projected to rise from $7.47 billion in 2024 to $8.03 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. The substantial growth during this historical period can be credited to the expansion in automotive production, stricter emission norms, an escalation in customer demand for comfort, the rise in vehicle electrification, along with increasing needs for performance and durability.
How Will the Automotive Silicone Market Market Size Evolve and Grow by 2029?
The market size of the automotive silicone industry is predicted to significantly increase in the upcoming years, projected to attain "$10.92 billion in 2029 with a compound annual growth rate (CAGR) of 8.0%. The anticipated growth during this forecast period is driven by the transition towards electric and hybrid vehicles, innovation in lightweight technology, the request for enhanced safety features, developments in autonomous vehicles, and a focus on environmental sustainability. Dominant trends for the forecast period incorporate integration in modern interiors and electronics, the expansion of coatings for external applications, the creation of silicone-based tires, and a stress on eco-friendly solutions.
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What Drivers Are Propelling the Growth of Automotive Silicone Market Market Forward?
The escalating requirement for fuel-efficient automobiles is projected to boost the expansion of the automotive silicone market in the future. These fuel-economic vehicles provide higher mileage per gallon compared to other less efficient models. Automotive silicones play a vital role in decreasing the weight of vehicles, which leads to a reduction in pollutant emissions and enhances fuel effectiveness. As an example, the Internal Energy Agency, an independent intergovernmental organization based in France, reported that over 2.3 million electric cars were purchased in the initial quarter of 2023. This signifies a 25% rise from the corresponding period in 2022. It is projected that by the finale of 2023, the sales will hit 14 million, indicating a 35% yearly escalation, with the growth rate amplifying in the latter half of the year. Hence, the burgeoning demand for fuel-efficient vehicles is propelling the expansion of the automotive silicone market.
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Which Emerging Trends Are Transforming the Automotive Silicone Market Market in 2025?
Product development, featuring innovative designs, is a primary trend emerging in the automotive silicone market. Many businesses within this market are introducing high-tech, novel products to solidify their market standing. For example, in December 2022, Dow, a chemical corporation based in the US, unveiled SILASTIC SA 994X Liquid silicone rubber (LSR). This LSR is a primerless, self-adhesive, general-purpose, and self-lubricating compound with a one-to-one mix ratio, created specifically for two-component injection molding that involves thermoplastic substrates like polybutylene terephthalate and polyamide. Such new series can be utilized in a wide range of automotive applications.
What Are the Key Segments in the Automotive Silicone Market Market?
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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Who Are the Key Players Shaping the Automotive Silicone Market Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Automotive Silicone Market Market?
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
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