Press release
Automotive Silicone Market on Path to Hit $10.66 Billion by 2029 at 7.7% CAGR
Automotive Silicone
Automotive Silicone Market Outlook: What Size And CAGR Are Anticipated By 2025?
In recent years, there has been a significant expansion in the size of the automotive silicone market. The market, which was valued at $7.47 billion USD in 2024, is projected to reach $7.93 billion USD in 2025, reflecting a compound annual growth rate (CAGR) of 6.2%. Factors such as growth in automotive manufacturing, adherence to strict emission standards, elevated consumer demand for comfort, amplified vehicle electrification, as well as enhanced performance and durability requirements contributed to this growth during the historical period.
What Is the Expected CAGR for the Automotive Silicone Market Growth Through 2029?
In the coming years, the automotive silicone market is predicted to experience robust growth, reaching a market cap of $10.66 billion USD by 2029, with a compound annual growth rate (CAGR) of 7.7%. This surge over the forecast period can be linked to multiple factors such as a move towards electric and hybrid vehicles, improvements in lightweight technology, need for enhanced safety features, self-driving vehicle innovation, and a larger focus on environmental sustainability. The period is expected to witness significant trends like the incorporation of advanced interiors and electronics, widening of coatings for exterior uses, invention of silicone-based tires, and emphasis on sustainable solutions.
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What Are the Primary Drivers Behind Automotive Silicone Market Growth?
The anticipated increase in demand for vehicles that consume less fuel is set to boost the automotive silicone market growth. More fuel-efficient lorries offer superior mileage for every gallon of fuel compared to their less efficient counterparts. Automotive silicones play a significant part in minimising vehicle weight, which directly leads to reduced pollutant emissions and augmented fuel effectiveness. For instance, the Internal Energy Agency, an independent intergovernmental organization based in France, recorded the sale of over 2.3 million electric cars in the initial quarter of 2023 back in July. This was a 25% hike in sales relative to the same timeframe in 2022. Furthermore, by the end of 2023, it is projected that sales will hit the 14 million mark, marking a year-on-year surge of 35%, with the swell expected to gain momentum in the next half of the year. Therefore, the surging demand for less fuel-consuming cars contributes to the progression of the automotive silicone market.
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What Are the Key Segments Driving Automotive Silicone Market Growth?
The automotive silicone 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
What Are the Technological Trends Impacting the Automotive Silicone Market?
The trend of product innovation is becoming increasingly popular in the automotive silicone market. Several companies involved in this market are introducing new products built with cutting-edge technology in order to consolidate their market presence. For example, in December 2022, the American chemical corporation, Dow, unveiled SILASTIC SA 994X Liquid silicone rubber (LSR). This is a primerless, self-adhesive, all-purpose, and self-lubricating LSR with a one-to-one mix ratio, designed for two-component injection molding with thermoplastic substrates like polybutylene terephthalate and polyamide. This innovative series can be used across various automotive applications.
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Who Are the Major Competitors in the Global Automotive Silicone Market?
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.
Which Region Dominates the Automotive Silicone Market Share in 2025?
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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Americas: +1 310-496-7795,
Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info
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