The global automotive silicone market is anticipated to reach $6.1 billion by 2032, growing from $2.7 billion in 2022 at a CAGR of 8.5% from 2023 to 2032.
Automotive silicone is a specific type of silicone material that is majorly designed for use in automotive applications. Silicone is a flexible polymer renowned for its excellent electrical insulation properties, temperature resistance, and durability. In the automotive industry, silicone is majorly used owing to its unique properties and benefits. The temperature resistance property of silicone can withstand extreme temperatures, both high and low, without losing its physical properties. It remains stable and flexible across an extensive temperature range, making it appropriate for automotive applications.
Automotive weight reduction is a constant goal for automakers as they seek to improve overall performance and fuel economy. Vehicle design is increasingly incorporating lightweight components including carbon fiber composites, high-strength steel, aluminum, and plastics. Because they may replace heavy materials and have a low density, silicone-based materials including adhesives, silicone foams, and sealants are a crucial step in the process of making automotive products lighter. These lightweight silicone materials are opted in various applications, such as seals, gaskets, electrical components, and thermal management systems, to reduce overall vehicle weight. Silicone-based adhesives, sealants, and gaskets are used in powertrain components, including transmissions, engines, and exhaust systems, to improve performance and reduce energy losses.
Silicon is a non-renewable resource that is used to make automotive silicone, and the procedures used to make silicone consume a lot of energy. In addition, silicone products are not easily biodegradable, leading to possible waste management challenges. As governments and regulatory bodies implement strict environmental regulations, automotive manufactures may face consequences and can diverge towards using more sustainable materials in comparison to silicone. Volatile organic compounds (VOCs) can be discharged as a result of the usage and manufacture of products with silicone as a base. VOCs are dangerous compounds that can harm human health and contribute to air pollution. Limits on VOC emissions are frequently imposed by stringent environmental laws, which may have an effect on the creation and application of automotive silicone. Moreover, the growing emphasis on sustainability has increased the demand for eco-friendly alternatives to silicone. The automotive industry is exploring and adopting greener solutions such as bio-based polymers and recyclable materials to reduce their environmental footprints. This is expected to restrain market growth during the forecast period.
As electric vehicle production surges globally, the demand for silicone-based materials is expected to surge. This provides an opportunity for automotive silicone manufacturers to develop innovative solutions, increase their product offerings, and cater to the specific needs of the EV industry. Electric vehicles generate heat during operation, particularly in the battery and powertrain systems. Silicone-based thermal management solutions, such as gels, thermal interface materials, and adhesives, can effectively manage and dissipate heat, ensuring ideal performance and safety of EV components. Moreover, silicone materials possess excellent electrical insulation properties, making them suitable for applications like cable and wire insulation, connectors, and gaskets in electric vehicles. As EVs incorporate advanced electronics and electrical systems, the demand for reliable and high-performance electrical insulation materials will increase.
The COVID-19 pandemic had both positive and negative impacts on various industries, including the automotive silicone industry. The pandemic caused disruptions in global supply chains, affecting the availability of raw materials, equipment, and components necessary for automotive production. This hampered the production of automotive globally. The automotive industry experienced a significant decline in demand during the initial stage of the pandemic owing to lockdowns, travel restrictions, and economic instability. Moreover, as a result automotive manufacturers scaled back production, leading to reduced demand for automotive silicone and other related materials.
The key players profiled in this report include Shin Etsu, Wacker Chemie, Siltech, Elkem Silicones, Momentive Performance Materials, Primasil Silicones, Dowdupont, Evonik, KCC Corporation, and Henkel AG & Co. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
Automotive silicone is a specific type of silicone material that is majorly designed for use in automotive applications. Silicone is a flexible polymer renowned for its excellent electrical insulation properties, temperature resistance, and durability. In the automotive industry, silicone is majorly used owing to its unique properties and benefits. The temperature resistance property of silicone can withstand extreme temperatures, both high and low, without losing its physical properties. It remains stable and flexible across an extensive temperature range, making it appropriate for automotive applications.
Automotive weight reduction is a constant goal for automakers as they seek to improve overall performance and fuel economy. Vehicle design is increasingly incorporating lightweight components including carbon fiber composites, high-strength steel, aluminum, and plastics. Because they may replace heavy materials and have a low density, silicone-based materials including adhesives, silicone foams, and sealants are a crucial step in the process of making automotive products lighter. These lightweight silicone materials are opted in various applications, such as seals, gaskets, electrical components, and thermal management systems, to reduce overall vehicle weight. Silicone-based adhesives, sealants, and gaskets are used in powertrain components, including transmissions, engines, and exhaust systems, to improve performance and reduce energy losses.
Silicon is a non-renewable resource that is used to make automotive silicone, and the procedures used to make silicone consume a lot of energy. In addition, silicone products are not easily biodegradable, leading to possible waste management challenges. As governments and regulatory bodies implement strict environmental regulations, automotive manufactures may face consequences and can diverge towards using more sustainable materials in comparison to silicone. Volatile organic compounds (VOCs) can be discharged as a result of the usage and manufacture of products with silicone as a base. VOCs are dangerous compounds that can harm human health and contribute to air pollution. Limits on VOC emissions are frequently imposed by stringent environmental laws, which may have an effect on the creation and application of automotive silicone. Moreover, the growing emphasis on sustainability has increased the demand for eco-friendly alternatives to silicone. The automotive industry is exploring and adopting greener solutions such as bio-based polymers and recyclable materials to reduce their environmental footprints. This is expected to restrain market growth during the forecast period.
As electric vehicle production surges globally, the demand for silicone-based materials is expected to surge. This provides an opportunity for automotive silicone manufacturers to develop innovative solutions, increase their product offerings, and cater to the specific needs of the EV industry. Electric vehicles generate heat during operation, particularly in the battery and powertrain systems. Silicone-based thermal management solutions, such as gels, thermal interface materials, and adhesives, can effectively manage and dissipate heat, ensuring ideal performance and safety of EV components. Moreover, silicone materials possess excellent electrical insulation properties, making them suitable for applications like cable and wire insulation, connectors, and gaskets in electric vehicles. As EVs incorporate advanced electronics and electrical systems, the demand for reliable and high-performance electrical insulation materials will increase.
The COVID-19 pandemic had both positive and negative impacts on various industries, including the automotive silicone industry. The pandemic caused disruptions in global supply chains, affecting the availability of raw materials, equipment, and components necessary for automotive production. This hampered the production of automotive globally. The automotive industry experienced a significant decline in demand during the initial stage of the pandemic owing to lockdowns, travel restrictions, and economic instability. Moreover, as a result automotive manufacturers scaled back production, leading to reduced demand for automotive silicone and other related materials.
The key players profiled in this report include Shin Etsu, Wacker Chemie, Siltech, Elkem Silicones, Momentive Performance Materials, Primasil Silicones, Dowdupont, Evonik, KCC Corporation, and Henkel AG & Co. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive silicone market analysis from 2022 to 2032 to identify the prevailing automotive silicone market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the automotive silicone market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global automotive silicone market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Elastomers
- Resins
- Gels
- Others
By Application
- Interior and Exterior
- Engines
- Electrical Systems
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Morocco
- South Africa
- Argentina
- Rest of LAMEA
Key Market Players
- Dowdupont
- Elkem ASA
- Evonik
- Henkel AG & Co
- KCC Corporation
- Momentive
- Primasil Silicones
- Shin Etsu
- Siltech Corporation
- Wacker Chemie
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE SILICONE MARKET, BY TYPE
CHAPTER 5: AUTOMOTIVE SILICONE MARKET, BY APPLICATION
CHAPTER 6: AUTOMOTIVE SILICONE MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the automotive silicone market was valued at $2.7 billion in 2022, and is estimated to reach $6.1 billion by 2032, growing at a CAGR of 8.5% from 2023 to 2032.Automotive silicone is a particular kind of silicone substance that is primarily intended for use in automobile applications. The exceptional temperature resistance, electrical insulation, and durability of the versatile polymer known as silicone are well known. Due to its distinct qualities and advantages, silicone is mostly utilized in the automotive industry. The high and low temperature tolerance of silicone benefits it to tolerate harsh conditions without losing any of its physical characteristics. Automotive silicone is appropriate for automotive applications that are exposed to heat and cold, such as engine compartments and exhaust systems, because it maintains flexibility and stability over a broad temperature range.
The rising demand from end-use sectors like the automotive industry is what is fueling the growth of the worldwide automotive silicone market. The market for automotive silicone has expanded as a result of rising fuel efficiency programs and the demand for high-efficiency and lightweight materials in the automotive sector. The growth of the worldwide automotive silicone market is also anticipated to be fueled by the rise of the automotive sector in developing nations like South Korea, China, and India. Moreover, in order to lighten the overall weight of vehicles, these lightweight silicone materials are used in a variety of applications, including seals, gaskets, electrical parts, and thermal management systems. Additionally, automakers are concentrating on increasing the fuel efficiency of automobiles due to the rising prices of gasoline and environmental sustainability.
The battery and powertrain systems in particular produce heat while an electric car is in operation. Silicone-based thermal management products, such as adhesives, gels, and thermal interface materials, can efficiently manage and dissipate heat, assuring the best performance and security of EV parts. Moreover, silicone materials have exceptional electrical insulation qualities, which makes them appropriate for uses in electric vehicle connectors, gaskets, and wire and cable insulation. The need for dependable, high-performance electrical insulation materials will rise as EVs incorporate more sophisticated electronics and electrical systems. Due to the silicone materials' relative environmental friendliness, silicone-based solutions are anticipated to support the objectives of lowering carbon emissions and enhancing overall eco-friendliness in the automobile industry, which is placing an increasing emphasis on sustainability.
Automotive silicone is resistant to a range of weather elements, such as sunshine, rain, snow, and ozone. When exposed to the outdoors, it does not deteriorate or become brittle, making it ideal for exterior car components like window seals and weatherstripping. In addition, silicone has a strong resistance to chemicals, including acids, solvents, oils, and fuels. Because of this resistance, silicone-based automotive parts are guaranteed to maintain their integrity and performance even when in contact with a variety of vehicle fluids, increasing their toughness and longevity.
The automotive silicone market share is segmented on the basis of type, application, and region. By type, it is classified into elastomers, resins, gels, and others. By application, it is classified into interior and exterior, engines, electrical systems, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America.
The key players profiled in the automotive silicone market report include Shin Etsu, Wacker Chemie, Siltech, Elkem Silicones, Momentive Performance Materials, Primasil Silicones, Dowdupont, Evonik, KCC Corporation, and Henkel AG & Co
The report offers a comprehensive analysis of the global automotive silicone market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Automotive Silicone Industry
The COVID-19 pandemic has had a significant impact on various industries, including the automotive industry. Global supply chains were disrupted by the pandemic, which had an impact on the availability and delivery of machinery, equipment, and raw materials for the automobile industry. Due to the resulting operational disruption, automotive silicone firms' projects and production were delayed.The automotive sector had a substantial decline in demand during the early stages of the pandemic as a result of lockdowns, travel restrictions, and economic instability. Furthermore, as a result of this, the automotive industry's production was reduced, which reduced the need for automotive silicone and other associated components.
The economic consequences of the pandemic influenced investment decisions within the automotive industry. Financial constraints and uncertainties affected the allocation of resources for automotive silicone initiatives.
Key Findings of the Study
Based on type, the elastomers sub-segment emerged as the global leader in 2022. The gels segment is anticipated to be the fastest growing during the forecast period.Based on application, the interior & exterior sub-segment emerged as the global leader in 2022 and the electrical systems sub-segment is predicted to show the fastest growth in the upcoming years.
Based on region, the Asia-Pacific market registered the highest market share in 2022 and is projected to maintain its position during the forecast period.
Companies Mentioned
- Dowdupont
- Elkem ASA
- Evonik
- Henkel AG & Co
- KCC Corporation
- Momentive
- Primasil Silicones
- Shin Etsu
- Siltech Corporation
- Wacker Chemie
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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