San Francisco 18 April 2019 Automotive Silicone Market Size, Share & Trends Analysis Report By Product
(Rubber, Coatings, Adhesives & Sealants), By Application (Electrical,
Suspension, EDT Systems, Interior & Exterior), And Segment Forecasts, 2019
- 2025
The global automotive silicone market size is expected to reach USD 9.47 billion by 2025 growing at a CAGR of 6.4% over the forecast period, according to a new report by Grand View Research, Inc. Growing production of automobiles, especially lightweight vehicles, and stringent regulations pertaining to harmful emissions are the driving factors for the market. Silicones help reduce the overall vehicle weight, thus, possess vital importance in lightweight vehicles market. Factors, such as government regulations, high fuel consumption, increasing environmental concerns, and technological advancements are driving the lightweight vehicles market.
The product is extensively used in vehicles
as rubber, adhesives & sealants, and coatings. They play a major role in
enhancing the fuel efficiency of vehicles, thus, leading to a decrease in
harmful emissions. Interior & exterior application segment accounted for a
share of 34.3% of the overall revenue in 2017. The superior characteristics of
silicones over other products has led to their increased demand in the
manufacturing of different parts of vehicles. From seat belts to tires,
flooring to door panels, and lubricants to cables & plugs, the product is
used in most of the interior & exterior parts. Silicone rubber is a
versatile product that has properties of both organic and inorganic materials.
It is available in different forms, such as
compounds, bases, or liquid, which make it applicable in various automotive
applications including fuel cells, exhaust mounts, electronic control system
seals, spark plug boots, grommets, and airbags. The product also has strong prospects
for its usage in hybrid engines. Hence, growing utilization of silicone rubber
is anticipated to have a positive influence on the market over the forecast
period. Moreover, supportive emission control standards in various regions are
likely to augment the product usage over the forecast period. Asia Pacific is
expected to be the largest and fastest-growing regional segment in future.
Growing population and rapid developments
in Asia Pacific are driving the product demand, thereby resulting in capacity
expansions by key companies in the regional market. For instance, in September
2018, the Dow Chemical Company began the construction of its new silicone resin
plant in Jiangsu’s Zhangjiagang to meet the growing product demand. The new
plant is expected to be operational by 2021. Also, in September 2018, Shin-Etsu
Chemical Co., Ltd. announced its plan of increasing its silicone output by 50%.
Increasing production capacities, new
product developments, and extensive research & development activities are some
of the key strategies adopted by prominent companies. For example, In June
2017, Wacker Chemie AG opened a new silicones R&D Center in Ann Arbor, U.S.
to support its overall business and product development in North America.
Access Research Report of Automotive
Silicone Market @ https://www.grandviewresearch.com/industry-analysis/automotive-silicone-market
Further key findings from the study suggest:
· In terms of revenue, electrical systems is
anticipated to witness a CAGR of 7.5% over the forecast period due to
increasing preference for these systems in vehicles
· Silicone rubber is expected to be the
fastest-growing product segment during the estimated time as a result of its
extensive usage in high-temperature applications
· Coatings accounted for 25.8% of the global
automotive silicones market volume share in 2017 owing to its increased
adoption in airbags
· In terms of volume, MEA is expected to be
the second fastest-growing regional market due to increasing production of
automobiles in the region
· Integration across the value chain has been
witnessed in the market. For instance, in March 2017, Elkem Silicones
integrated its two plants in China into Elkem Group for enriching the its
silicone value chain
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has
segmented the global automotive silicone market on the basis of product,
application, and region:
Automotive Silicone Product Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Rubber
·
Adhesives & Sealants
·
Coatings
·
Others
Automotive Silicone Application
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Interior & Exterior
·
Engine & Drive Train (EDT) Systems
·
Electrical System
·
Suspension System
·
Others
Automotive Silicone Regional Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Automotive
Silicone Market@ https://www.grandviewresearch.com/press-release/global-automotive-silicone-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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