The Worldwide Automotive Silicone Industry is Projected to Reach $3.1 Billion by 2027

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Jul 08, 2022, 11:00 ET

DUBLIN, July 8, 2022 /PRNewswire/ -- The "Automotive Silicone Market by Type (Elastomers, Gels, Resins, Fluids), Application (Interior & Exterior, Engines, Electrical, Tires), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecasts to 2027" report has been added to ResearchAndMarkets.com's offering.

The global automotive silicone market size is projected to grow from USD 2.2 billion in 2022 to USD 3.1 billion by 2027, at a CAGR of 7.1% between 2022 and 2027.

Rising demand from emerging markets and growth of transportation industry globally are expected to offer significant growth opportunities to manufacturers of automotive silicone.

Electrical segment accounted for the second largest share in the automotive silicone market in terms of value.

The electrical segment had a share of 27.7% in the overall automotive silicone market, in terms of value, in 2021. Silicones are used in ignition cables, also known as spark plug wires which are a part of the ignition system. They transfer the spark from the distributor or ignition coil to spark plugs that ignite the air-fuel mixture, starting the engine. These spark plug wires are insulated with multiple layers of silicone to prevent jumping of sparks to adjacent wires and causing misfires.

Engines is the second fastest growing automotive silicone application.

Radiator sealant in engines is a chemical that is applied to the radiator wall and forms a coating around it to prevent leakage. Automotive silicone is one of the most versatile material that is used in radiator seals. Automotive silicones are available in various forms, such as sealant, tape, and epoxy. Automotive silicone seals are more used as they last longer than the rubber seals that are present in the market.

Europe is estimated to be the second-largest market for automotive silicone

Europe is the second-largest market for automotive silicone. Germany, Italy, France, Spain, and the UK are the major countries in the European automotive silicone market. The region has a strong industrial base in developed economies such as the UK, France, Italy, Spain, and Germany. The trend of reducing vehicle weight to increase fuel efficiency is driving the market for automotive silicones in the transportation industry in Europe. Germany was the largest market for automotive silicones in Europe in 2021. The key reason for Germany being the largest automotive silicones market in the region is the presence of a huge automobile industry in the country.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Significant Opportunities in Automotive Silicone Market
4.2 Asia-Pacific: Automotive Silicone Market, by Application and Country, 2021
4.3 Automotive Silicone Market, by Application
4.4 Automotive Silicone Market, by Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Automotive Industry in Asia-Pacific
5.2.1.2 Increasing Demand for High Efficiency and Lightweight Materials in the Automotive Industry
5.2.1.3 Superior Properties of Silicone
5.2.2 Restraints
5.2.2.1 Growing Use of Electric Vehicles
5.2.3 Opportunities
5.2.3.1 High Growth Opportunities in the Emerging Economies of Asia-Pacific
5.2.3.2 Growing Demand in the Transportation Industry
5.2.4 Challenges
5.2.4.1 Fluctuating Raw Material Prices
5.3 Porter's Five Forces Analysis
5.4 Value Chain Analysis
5.4.1 Raw Material Suppliers
5.4.2 Manufacturers
5.4.3 Distributors
5.4.4 End Consumers
5.5 Macroeconomic Analysis
5.6 COVID-19 Impact Analysis
5.6.1 Impact on Automotive Industry
5.7 Trends of Automotive Industry

6 Automotive Silicone Market, by Type
6.1 Introduction
6.2 Elastomers
6.3 Resins
6.4 Gels
6.5 Fluids

7 Automotive Silicone Market, by Application
7.1 Introduction
7.2 Interior & Exterior
7.2.1 Heat Resistance Property of Silicone Makes It Favorable for Use in Interior & Exterior Application
7.2.2 Airbags
7.2.3 Exhaust Hangers
7.2.4 Exterior Trims
7.2.5 Headlamps
7.2.6 Hoses
7.2.7 Interior Trim
7.2.8 Membrane
7.2.9 Shock Absorbers
7.2.10 Grommets
7.3 Engines
7.3.1 Sealing and Bonding Properties of Silicone Make It Suitable for Use in Engines
7.3.2 Sealing, Potting & Bonding
7.3.3 Filtration
7.3.4 Gaskets
7.3.5 Radiator Seal
7.3.6 Vibration Dampening
7.4 Electrical
7.4.1 Damping and Insulation Properties Make Silicone Favorable for Use in Electrical Connections
7.4.2 Power Transmission
7.4.3 Damping & Insulation
7.4.4 Ignition Cables
7.4.5 Spark Plug Boots
7.4.6 Ht Cables
7.5 Tires
7.5.1 Semi-Permanent Formulations of Silicone Films Drive Their Application in Tires
7.6 Others

8 Automotive Silicone, by Region

9 Competitive Landscape
9.1 Overview
9.2 Ranking Analysis of Key Market Players, 2021
9.3 Market Evaluation Matrix
9.4 Company Evaluation Matrix, 2021 (Tier 1)
9.4.1 Stars
9.4.2 Emerging Leaders
9.5 Start-Ups and Small and Medium-Sized Enterprises (SMEs) Evaluation Matrix
9.5.1 Progressive Companies
9.5.2 Responsive Companies
9.5.3 Starting Blocks
9.6 Competitive Scenario
9.6.1 New Product Launches
9.6.2 Deals
9.6.3 Other Developments

10 Company Profiles
10.1 The Dow Chemical Company
10.2 Wacker Chemie Ag
10.3 Momentive
10.4 Shin-Etsu Chemical Co. Ltd.
10.5 Elkem Asa
10.6 Evonik Industries Ag
10.7 Gelest Inc.
10.8 Henkel
10.9 Primasil Silicones
10.10 Siltech Corporation
10.11 Other Key Companies
10.11.1 Cht Group
10.11.2 Brb International
10.11.3 Nolato
10.11.4 Reiss Manufacturing
10.11.5 Kibaru Manufacturing Sdn. Bhd.
10.11.6 Mccoy Performance Silicones
10.11.7 Milliken
10.11.8 Novaguard Solutions
10.11.9 Permatex
10.11.10 Rogers Corporation
10.11.11 Mesgo
10.11.12 Silicone Solutions
10.11.13 Simtech Silicone Parts
10.11.14 Specialty Silicone Products Inc.
10.11.15 Wynca Tinyo Silicone