Trusted Business Insights presents the Latest Study on Automotive Silicone Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Automotive Silicone Market Size & Share, Sector / Industry Report & Analysis, 2019-2025
Abstract, Snapshot, Market Analysis & Market Definition: Global Automotive Silicone Market
The global automotive silicone market size was valued at USD 5.76 billion in 2017 and is projected to witness a CAGR of 6.4% from 2018 to 2025. Automotive silicones have applications interior & exterior, electrical systems, and suspension systems of vehicles. Superior characteristics of the product make it highly compatible with rubber, adhesives, sealants, and coatings, which increases their preference over other products. Increasing production of automobiles is the key driving factor behind the growth of this market.
For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), the global production of commercial vehicles and cars grew at a CAGR of 2.04% from 2014 to 2017. The production increased by around 2 million units in 2017 from 2016. Automotive silicones help reduce the overall vehicular weight thereby enhancing the fuel efficiency and reducing harmful emissions. Thus, strict regulations pertaining to harmful emissions are also expected to propel the growth of this market. Growing demand in electronics application is also expected to fuel the market.
However, high production cost of automotive silicones may cause hindrance to the market growth. Silicone rubber is extensively used in vehicle manufacturing, but its costlier than other types of rubbers, which is also likely to hamper market growth. Its manufacturing is an energy-intensive process and involves the use of other expensive components as well. However, its high cost is offset by low maintenance and long life. High production costs have resulted in the concentration of the market where a few key manufacturers account for a major industry share.
In addition, the industry witnesses potential threat of new entrants on account of escalating demand for the product in several applications. This makes the competitive rivalry intense in the global market. On the other hand, advancements in technology, modernization, and quick upgradation have propelled the demand for electronic automotive assistance systems. Thus, rising usage of these systems is likely to have a positive impact on the industry expansion.
Market Segmentation, Outlook & Viewpoint: Global Automotive Silicone Market
Product Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Adhesives & Sealants
Application Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Interior & Exterior
Key Players, Recent Developments & Regional Insights: Global Automotive Silicone Market
Are you working or have business association with any of the below-listed market leaders? If Yes, Request any ONE of your Competitor Data for free here. *T&C Apply*
Based on product, the global market is segmented into rubber, adhesives & sealants, coatings, and others. In terms of revenue, rubber was the largest segment in 2017 and this trend is expected to continue over the forecast period. Silicone rubber is widely used in a wide range of applications, especially in high-temperature applications in vehicles. For instance, it is used in turbocharger hoses where the temperature is around 225°C. The product comes in various formulations for production, curing, and molding, making the processing easier and maintaining high quality standards.
Hence, despite its high cost, it is extensively used in electronic sealants, tires, and cables. Automotive silicones coatings offer temperature resistance up to 350°C. With appropriate pigments and filler, they can withstand temperature up to 650°C. They also have properties, such as scratch resistance, weathering resistance, slip, leveling, and wetting. Silicone-based coatings are also used in airbags as it protects the airbag fabric from heat. The efficiency and compatibility of the product with different types of substrates are anticipated to further augment its demand.
Asia Pacific led the market in 2017 and this trend is expected to continue over the forecast period. Rising disposable income, production of vehicles, and population are the factors behind the regions growth. According to OICA, APAC accounted for a share of 53.5% of the global production of cars and commercial vehicles in 2017. China is the major producer in APAC, followed by Japan and India. The automotive industry holds significant importance in Europe. In 2017, the number of registration for passenger cars increased by 3.4%, crossing the number of 15 million units for the first time in the past 10 years. Thus, rising importance of the industry is a positive sign for the growth of the automotive silicones market in this region.
Germany is the largest market in Europe and is known for its auto exports. Apart from Europe, U.S. is the largest importer of the German-made vehicles followed by Asia. Escalating demand for silicones has propelled its manufacturers to increase their production capacity. For instance, in September 2018, Evonik announced that it will be constructing a new silicone production facility in Germany, which is expected to be operational by the end of 2019. The new plant will focus on producing binders for adhesives and sealants, electronic, and medical applications and fiber composites for the automotive and aerospace industry.
Automotive Silicone Market Share Insights
The market is highly competitive. Some of the key participants include the The Dow Chemical Company, Wacker Chemie AG, Momentive Performance Materials, and Shin-Etsu Chemical Co., Ltd. Companies are focusing more on R&D and new product development activities for strengthening their market position. For instance, in June 2018, Momentive Performance Materials, Inc. introduced SilGrip PSA810 to its portfolio of pressure-sensitive adhesives.
Key Insights Covered: Global Automotive Silicone Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Automotive Silicone industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Automotive Silicone industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Automotive Silicone industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Automotive Silicone industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Automotive Silicone industry.
Research Methodology: Global Automotive Silicone Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
Quick Read Table of Contents of this Report @ Automotive Silicone Market Size & Share, Sector / Industry Report & Analysis, 2019-2025
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
US: +1 646 568 9797
UK: +44 330 808 0580
This post was originally published on Analytics News