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Automotive Airbags Silicone Market to Grow at 19.2% CAGR, Reaching $1046.28 Billion by 2029
Automotive Airbags Silicone
Automotive Airbags Silicone Market Outlook: How is the Market Expected to Grow by 2025?
Over the past few years, the automotive airbags silicone market has shown significant expansion. The market size is projected to excel from $446.78 billion in 2024 to $518.66 billion in 2025, representing a compound annual growth rate (CAGR) of 16.1%. Factors contributing to the growth during the historic period include obligatory safety regulations, robust growth in the automotive industry, emphasis on passenger safety, global spread of automotive supply chains, and an increase in customer demand for safety features.
Automotive Airbags Silicone Market Forecast: What Size Will It Reach By 2029?
The size of the automotive airbags silicone market is projected to experience swift expansion in the coming years, reaching $1046.28 billion by 2029 with a 19.2% compound annual growth rate (CAGR). The growth during this forecast period can be linked to the adoption of autonomous and electric vehicles, stricter emission regulations, integration of sophisticated sensors, the rising need for high-performance vehicles, and the transition towards intelligent materials. The forecast period will also see major trends such as R&D in environmentally friendly materials, global partnerships in automotive manufacturing, advancements in silicone materials, technological progression in airbag systems, and the digitalisation of safety systems.
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Which Key Market Drivers Will Shape Automotive Airbags Silicone Industry Trends in 2025-2029?
The requirement of airbags in front seats for vehicles is likely to stimulate the automotive airbag silicone market in the upcoming years. Airbags, complex pieces of equipment that collaborate with a vehicle's metallic structure and seat belts to safeguard passengers, are now compulsory for vehicles, at least in front seats. This is due to the higher risk of harm for passengers and drivers in the front seats during collisions or accidents. For example, in India, cars manufactured after April 1, 2021, for new models, and June 1, 2021, for existing models, must be equipped with airbags for the front seat passenger, excluding the driver. Therefore, the enforced inclusion of airbags in front seats in vehicles is contributing significantly to the market's growth.
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What Are the High-Growth Segments in the Automotive Airbags Silicone Market?
The automotive airbags silicone market covered in this report is segmented -
1) By Airbag Type: Cut-and-Sewn Seam-Sealed (CSSS), One-Piece-Woven (OPW)
2) By Airbag Position: Front, Knee, Curtain/Side, Other Airbag Positions
3) By Vehicle Type: Passenger Cars, LCV, HCV
Subsegments:
1) By Cut-And-Sewn Seam-Sealed (CSSS): Standard CSSS Airbags, Specialty CSSS Airbags, Custom-Fit CSSS Airbags
2) By One-Piece-Woven (OPW): Standard OPW Airbags, High-Performance OPW Airbags, Custom-Fit OPW Airbags
Which Global Trends Are Driving Automotive Airbags Silicone Market Expansion?
The growth of the automotive airbag silicone market is anticipated to be restrained by the escalating advancement of active safety systems. These systems, operational when the vehicle is being driven, are constantly working to avert potential accidents and assure passenger safety. They encompass features like automatic emergency braking (AEB), forward collision warning (FCW), active cruise control (ACC), lane departure warning (LDW), lane-keeping assist (LKA), blind-spot monitoring, and rear cross-traffic alert (RCTA). As per a 2022 survey by Consumer Reports involving over 47,000 Cr car owners, 72% were appeased with Rear Cross Traffic Warning (RCTW), 64% with Blind Spot Warning (BSW), 63% with Adaptive Cruise Control (ACC), and 59% with Automatic Emergency Braking (AEB). Such a surge in active safety system development is projected to negatively influence the automotive airbag silicone market.
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Who Are the Fastest-Growing Companies in the Automotive Airbags Silicone Industry?
Major companies operating in the automotive airbags silicone market include The Dow Chemical Company, Elkem Silicones LLC, Shin-Etsu Chemical Co. Ltd., Wacker Chemie AG, Toray Industries Inc., Toyobo Co. Ltd., Zodiac Aerospace SAS, Porcher Industries SA, Momentive Performance Materials Inc., KCC Corporation, Sil-More Industrial Ltd., NuSil Technology LLC, Specialty Silicone Products Inc., Quantum Silicones LLC, Reiss Manufacturing Inc., BlueStar Silicones, Kaneka Corporation, Evonik Industries AG, Shenzhen Polysilicon Technology Co. Ltd., LSR-Asia Pte Ltd, MESGO S.p.A., ACC Silicones Ltd., Rogers Corporation, Gelest Inc., Hexpol Compounding LLC
What Is the Regional Outlook for the Automotive Airbags Silicone Market by 2029?
Asia-Pacific was the largest region in the automotive airbag silicone market in 2024. The regions covered in the automotive airbags silicone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
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