Growth in Automotive Industry Estimated to Drive Global Automotive Silicone Market over the Forecast Period: Ken Research

Automotive silicone is a heat-resistant & rubber-like polymer used in manufacturing lubricants, sealants, adhesives, and thermal & electrical insulation. It offers superior properties to increase the efficiency of the vehicle, for instance durability, strength, resistance, and ultraviolet resistance. Its resistance to ultraviolet radiation, abrasion, and chemicals make silicone the best choice in the automotive sector.

Global Automotive Silicone MarketAccording to study, “Global Automotive Silicone Market Size study, by Type (Elastomers, Resins, Gels and Fluids), Application (Interior & Exterior, Engines, Electrical and Others and Regional Forecasts 2018-2025” the key companies operating in the global automotive silicon market are Momentive Performance Materials, Henkel AG & Co., Wacker Chemie AG, KCC Corporation, Evonik Industries AG, Dowdupont Inc., Elkem Silicones, Primasil Silicones Ltd., Shin Etsu Chemical Co. Ltd., Siltech Corp.,  Rogers Corporation, Kaneka Corporation, NuSil Technology LLC, Bostik, ACC Silicones Ltd., Kibaru Manufacturing Sdn Bhd, Milliken & Company, Novagard Solutions, Mccoy Performance Silicones Pvt., Permatex, Brb Internation BV., Wynca Tinyo Silicone Co., Ltd., GW Plastics,

Based on type, automotive silicon market is segmented into resins, fluids, elastomers and gels. Based on forms, market is segmented into compounds, bases, and liquid. In addition, based on application, market is segmented into engines, interior & exterior, electrical, and others (ventilation flaps, paint & plastic polishes, rain & distance sensors, sheathing & protecting, molds & prototypes and break-protection caps). Engines include gaskets, sealing, potting & bonding, radiator seals, filtration and vibration dampening. Interior & exterior include headlamps, airbags, exterior trim, exhaust hangers, membrane, interior trim, hoses, grommets, and shock absorbers. Additionally, electrical segment includes sparkplug boots, power transmission, ignition cables, HT cables, damping & insulation, EV battery seals, and connectors.

The automotive silicon market is driven by growth of novel applications, followed by stringent regulations on vehicular emissions & fuel efficiency, growth in automotive industry, increase in environmental concerns, rise in demand from end-use industries, increase in consumer preferences for high-performance vehicles, new product developments, rise in preference for vertical integration, surge in demand for pedestrian airbags and increase in demand of high efficiency & lightweight materials in automotive industry. However, high production cost and rise in adoption of electric vehicles may impact the market. Moreover, growth in emerging economies and rise in trend of using electric & hybrid vehicle are key opportunities for market.

Based on geography, the Asian-Pacific region dominates the automotive silicon market owing to growth in the automotive industry, rise in improvement in standards of living, and easy availability of raw materials used in the manufacture of automotive silicone in the region. The North-American and European regions are estimated to witness fastest growth rate due to rise in automobile production and growth in use of silicone-based film adhesives in car customization over the forecast period. It is projected that future of the market will be bright caused by rise in disposable income & increase in population, growth in technological advancements such as appropriate use of silicone rubber with thermoplastics to provide improvements in scratch or mar resistance & lowered frictional coefficient during the forecast period. It is angticipated that the market will be reached at US $3. 9 billion, by 2025.

To know more, click on the link below:-

Global Automotive Silicone Market Research Report

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