Global Automotive Silicone Market Insights Forecasts to 2032
- The Automotive Silicone Market Size was valued at USD 2.7 Billion in 2022.
- The Market Size is growing at a CAGR of 8.1% from 2022 to 2032
- The Worlwide Automotive Silicone Market Size is expected to reach USD 3.9 Billion by 2032
- Asia Pacific is expected to grow the fastest during the forecast period
Get more details on this report -
Global Automotive Silicone Market Size is expected to reach USD 3.9 Billion by 2032, at a CAGR of 8.1% during the forecast period 2022 to 2032.
As the automobile industry expands globally and more vehicles are produced, there is a commensurate increase in demand for high-quality materials such as silicone. The car industry is under intense pressure to fulfil stringent pollution regulations. Silicone is utilised in a variety of components to enhance fuel efficiency and minimise emissions, which is driving its widespread acceptance. Consumers are increasingly more aware of vehicle comfort and safety features. Silicone is utilised in components such as gaskets and seals to improve insulation and noise reduction. The rise of electric and driverless vehicles poses new challenges and material requirements. Silicone's qualities make it suited for a variety of uses in these high-tech vehicles. The lightweight nature of silicone makes it appealing in an industry that is increasingly focused on weight reduction for increased fuel economy.
Automotive Silicone Market Value Chain Analysis
Suppliers of raw materials such as silicon metal, methyl chloride, and other chemicals used in the synthesis of silicone start the value chain. Silicone makers start with raw ingredients and then synthesise and treat silicone compounds. They manufacture a variety of silicone products while keeping in mind the special needs of the automotive industry. These businesses specialise in the production of silicone-based components such as gaskets, seals, hoses, and adhesives. These components are built to endure the rigours of automotive systems. Silicone components are sold to automakers, who incorporate them into bigger systems and assemblies. Original Equipment Manufacturers (OEMs) rely on these parts providers for a variety of components. OEMs are in charge of incorporating numerous components, including silicone-based ones, into car production.
Automotive Silicone Market Opportunity Analysis
With a greater emphasis on electric vehicles, there is a greater demand for materials that can endure the unique challenges given by EV components. Silicone's thermal and electrical insulating qualities make it an ideal material for EV applications like as battery packs and connectors. The rise of self-driving cars opens up new prospects for silicone in sensor technologies. Silicone materials are frequently employed to safeguard sensors from extreme environmental conditions, assuring their dependability and performance. As global pollution requirements tighten, automakers are under pressure to improve fuel efficiency and cut emissions. Silicone is used in a variety of components to help achieve these aims, creating a potential opportunity in the automotive silicone market. To improve fuel efficiency, the car industry is increasingly focusing on lightweight materials. The development of the automobile industry into emerging areas creates new prospects for silicone makers. As more automobiles are manufactured around the world, the demand for high-performance materials such as silicone is expected to rise.
Global Automotive Silicone Market Report Coverage
|Market Size in 2022:
|USD 2.7 Billion
|Forecast Period 2022-2032 CAGR:
|2032 Value Projection:
|USD 3.9 Billion
|Historical Data for:
|No. of Pages:
|Tables, Charts & Figures:
|By Type, By Application, By Region, And Segment Forecasts, By Geographic Scope And Forecast 2022 to 2032.
|Henkel AG & Co. KGaA, 3M Company, Permatex, Elkem ASA, Basildon Chemicals, Specialty Silicone Products, Inc., Dow, ACC Silicones Ltd., Wacker Chemie AG, Shin-Etsu Chemical Co., Laur Silicone, Inc., CSL Silicones Inc., and Other key vendors,
|Automotive Silicone Market Dynamics
|Pitfalls & Challenges:
|COVID-19 Empact,Challenges, Future, Growth, & Analysis
Get more details on this report -
Automotive Silicone Market Dynamics
Demand for lightweight and fuel-efficient vehicles
Silicone is known for its lightweight characteristics, making it an appealing material for car components. As automakers attempt to lower vehicle weight in order to enhance fuel efficiency, silicone becomes a beneficial material for a variety of uses. Silicone is utilised in engine components such as gaskets and seals, which aids in engine efficiency. Silicone improves engine performance by reducing friction and ensuring good sealing, resulting in higher fuel economy. With an increased emphasis on electric vehicles (EVs), lightweight materials are critical for enhancing battery range and efficiency. Because of its small weight, silicone is well suited for use in battery packs and other electric vehicle components. Vehicles are being designed using innovative materials in the automotive sector.
Restraints & Challenges
As silicone is a specialist material, it might be more expensive than typical options. Cost issues, particularly in price-sensitive areas, may limit its widespread adoption. Some automobile manufacturers and designers may be unaware of the benefits and applications of silicone in the industry. This problem could be overcome by raising awareness and offering information about the benefits of silicone. Alternative materials that strive to give similar benefits, such as lightweighting and durability, compete with silicones. In a competitive market, developing and exploiting unique qualities that set silicone apart is critical. Raw material shortages, geopolitical considerations, and transportation challenges all have the potential to disrupt the global supply chain. Such disruptions have the potential to affect the supply and cost of silicone materials.
North America Market Statistics
Get more details on this report -
North America is anticipated to dominate the Automotive Silicone Market from 2023 to 2032. North America is a centre for automobile technological developments. Silicone's applications in advanced technologies such as sensors and electronics make it a valuable commodity in the region's dynamic automotive sector. In North America, there is a strong emphasis on lightweighting to enhance fuel efficiency. Silicone, as a lightweight material, helps to this trend and is anticipated to be used more in numerous automotive applications in the future. Vehicles with improved safety and comfort amenities are frequently prioritised by North American consumers. The use of silicone in components that contribute to noise reduction and insulation corresponds to these customer expectations. In North America, the aftermarket offers potential for silicone materials used in maintenance, repairs, and upgrades. Aftermarket applications may require silicone-based sealants and adhesives, for example.
Asia Pacific Market Statistics
Asia Pacific is witnessing the fastest market growth between 2023 to 2032. The Asia-Pacific area is a manufacturing and sales powerhouse for automobiles. The ongoing expansion of the automobile sector in countries such as China, India, and Japan opens up new prospects for the use of silicone in a variety of applications. In terms of automobile production, Asia-Pacific is the world leader. Silicone demand in this region is tightly linked to rising vehicle production levels, both for domestic consumption and export. Many Asian governments are actively promoting electric vehicles in order to solve environmental problems. The usage of silicone in EV components such as batteries and charging systems is consistent with the region's emphasis on sustainable transportation. The Asia-Pacific area is a hotbed of automobile technology innovation.
Insights by Product Type
The resin segment accounted for the largest market share over the forecast period 2023 to 2032. Silicone resins are well-known for their high heat resistance and weather resilience. These qualities make them appropriate for advanced coating and paint applications in the automobile industry. The growing demand for high-performance coatings that can survive extreme weather conditions helps to drive the rise of silicone resins. Silicone resins are widely employed in the production of adhesives and sealants for automotive purposes. Their ability to produce strong bonding and sealing, as well as resilience to harsh temperatures and weather exposure, makes them useful in automobile component assembly. The growing popularity of electric and hybrid vehicles raises the demand for materials that can suit the specific needs of these vehicles. Silicone resins are employed in these modern vehicle systems to insulate and safeguard electrical components.
Insights by Application
The electrical segment accounted for the largest market share over the forecast period 2023 to 2032. The increased production and acceptance of electric and hybrid vehicles is a primary driver of growth in the automotive silicone market's electrical segment. Silicone materials are employed in many of these vehicles' electrical components, including battery packs, electric motors, and power electronics. Because of the flexibility of silicone, it can be used to design and manufacture complicated electrical components. It can be moulded into a variety of forms and sizes, making it ideal for applications requiring customisation and versatility. As the voltage levels in electric vehicles rise, so does the requirement for materials that can tolerate larger electrical pressures. Silicones are used in high voltage components due to their dielectric strength and electrical insulation qualities.
Recent Market Developments
- In September 2022, Henkel has completed the acquisition of Nanoramic Laboratories' Thermexit business.
Major players in the market
- Henkel AG & Co. KGaA
- 3M Company
- Elkem ASA
- Basildon Chemicals
- Specialty Silicone Products, Inc.
- Dow, ACC Silicones Ltd.
- Wacker Chemie AG
- Shin-Etsu Chemical Co.
- Laur Silicone, Inc.
- CSL Silicones Inc.
- Other key vendors
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Automotive Silicone Market, Type Analysis
Automotive Silicone Market, Application Analysis
- Interior & Exterior
Automotive Silicone Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South America
- Middle East & Africa
- Saudi Arabia
- South Africa
Need help to buy this report?