PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1423706
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1423706
Automotive Silicone Market Forecasts to 2030 - Global Analysis By Product (Gels, Adhesives and Sealants, Elastomers and Other Products), Application and By Geography
According to Stratistics MRC, the Global Automotive Silicone Market is accounted for $2.65 billion in 2023 and is expected to reach $5.27 billion by 2030 growing at a CAGR of 10.3% during the forecast period. The automotive silicone market refers to the industry segment focused on the production, distribution, and utilization of silicone-based materials and products within the automotive sector. Silicone, a versatile polymer with notable characteristics such as high temperature resistance, flexibility, and durability, finds widespread application in various automotive components. These silicone-based solutions play a crucial role in enhancing the performance, reliability, and longevity of automotive systems.
According to OICA, in the first nine months of 2021, the total production of vehicles stood at 32.67 million units, an increase of 11% compared to the same period last year.
Market Dynamics:
Driver:
Rising automotive production
As the automotive industry experiences a surge in manufacturing activities, the demand for advanced materials like silicone intensifies. Silicone's unique properties, including high-temperature resistance, flexibility, and durability, make it a preferred choice for various automotive components. With the rising production of conventional vehicles, as well as the increasing demand for electric vehicles (EVs), silicone finds extensive use in critical applications such as gaskets, seals, adhesives, and thermal management solutions. Moreover, as automakers seek to enhance vehicle performance, efficiency, and comply with stringent environmental standards, the versatility of silicone becomes paramount.
Restraint:
Fluctuating raw material prices
The production of silicone involves the use of key raw materials, such as silicon metal, whose prices can be subject to volatility due to factors like global supply-demand dynamics and geopolitical events. Fluctuating raw material prices present challenges for silicone manufacturers in terms of cost predictability, affecting overall production expenses. These uncertainties may lead to increased production costs, subsequently impacting the competitiveness of silicone-based products in the automotive market. However, price variations can influence profit margins for manufacturers and may necessitate adjustments in pricing for end-users, potentially affecting the overall adoption of silicone materials in automotive applications.
Opportunity:
Demand for lightweight materials
Silicone, being a lightweight and versatile material, gains prominence in this context as automakers increasingly prioritize weight reduction strategies. With stringent emission standards and a growing emphasis on sustainability, silicone's role in replacing heavier materials in various automotive applications becomes crucial. Furthermore, silicone hoses, gaskets, and seals contribute to reducing the overall weight of vehicles while maintaining durability and performance.
Threat:
Intense competition from alternative materials
The automotive industry witnesses a continuous quest for materials that offer a balance of performance, cost-effectiveness, and environmental sustainability. While silicone provides unique advantages, such as high-temperature resistance and flexibility, it faces robust competition from alternative materials like thermoplastics and fluoropolymers. These alternatives often present competitive solutions, sometimes with lower costs or specific performance attributes that meet certain automotive requirements. Manufacturers and end-users may opt for alternative materials based on factors such as application-specific needs, regulatory compliance, and cost considerations.
Covid-19 Impact:
The automotive industry faced disruptions in production, supply chain constraints, and a decline in consumer demand, leading to reduced vehicle manufacturing. As a result, the demand for automotive silicone-based products witnessed a slowdown during the initial phases of the pandemic. Supply chain interruptions, restrictions on manufacturing operations, and economic uncertainties affected both the production and consumption sides of the automotive silicone market. However, as the industry adapted to new norms and recovered, the focus on hygiene and safety in vehicles increased, driving demand for silicone-based solutions in interiors.
The elastomers segment is expected to be the largest during the forecast period
Due to the unique properties of silicone elastomers, making them indispensable in various automotive applications, Elastomers segment is expected to be the largest during the forecast period. Silicone elastomers, known for their flexibility, durability, and resistance to extreme temperatures, have found extensive use in gaskets, seals, and components requiring superior elasticity. As automotive manufacturers increasingly prioritize lightweight materials for enhanced fuel efficiency, silicone elastomers offer an ideal solution without compromising on performance.
The suspension systems segment is expected to have the highest CAGR during the forecast period
Suspension Systems segment is expected to have the highest CAGR during the forecast period. Silicone bushings and mounts contribute to improved ride quality by dampening vibrations and reducing noise. Silicone's ability to withstand harsh environmental conditions and resist degradation enhances the longevity and performance of suspension components. As automotive manufacturers strive to enhance overall vehicle comfort and handling, the use of silicone in suspension systems has become integral. Moreover, the booming demand for smoother rides, reduced noise, and heightened durability has propelled the Suspension Systems segment within the Automotive Silicone Market, showcasing silicone's pivotal role in advancing automotive engineering and design.
Region with largest share:
Asia Pacific region commanded the largest share of the market throughout the extrapolated period. As the region experiences rapid urbanization, rising disposable incomes, and a growing middle class, there is a heightened focus on vehicle aesthetics, comfort, and performance. Additionally, stringent environmental regulations drive the adoption of silicone in electric vehicles, further boosting the market. The increasing focus on reducing emissions and enhancing vehicle efficiency has led to stringent environmental standards and regulations imposed by governments across the region.
Region with highest CAGR:
Asia Pacific region is projected to witness profitable growth over the feasible period. As automotive manufacturers strive to comply with these regulations, there is a growing inclination towards silicone-based solutions. Silicone's unique properties, including heat resistance and lightweight characteristics, make it a preferred choice for components contributing to fuel efficiency and emission reduction. Moreover, the region's push towards electric vehicles (EVs) has further amplified the demand for silicone in critical applications such as battery systems and thermal management.
Key players in the market
Some of the key players in Automotive Silicone market include 3M Company, Bluestar Silicones, BRB International b.v, Elkem ASA, Evonik Industries AG, Gelest Inc, KCC Silicones, Kibaru Manufacturing Sdn Bhd, Momentive Performance Materials, Novagard Solutions, Primasil Silicones, Silicone Solutions, Siltech Corporation, The Dow Chemical Company and Wacker Chemie AG.
Key Developments:
In March 2023, Shin-Etsu Chemical developed a silicone rubber formulation suitable for molding, specifically designed to serve as an ideal insulation covering material for high-voltage cables within automobiles.
In December 2022, Dow launched liquid silicone rubber series, which can be used across multiple automotive applications such as connector seals, battery vent gaskets and radiator gasket seals for electric and hybrid vehicles, as well as environmental protection seals for autonomous vehicles' lidar and radar housing.
In May 2022, Dow introduced a new mouldable material, which finds application in adaptive driving beam (ADB) light guides in cars. Silastic MS-5002 mouldable silicone is a specialized Liquid Silicone Rubber (LSR) that offers extremely low mould fouling for faster cycle times and high-quality optics. The material is developed for injection moulded parts needing high-productivity manufacturing. The product launch is aimed at decreasing vehicle weight and reducing energy requirements for production.
In April 2022, Shin-Etsu Chemical Co., Ltd., introduced thermal interface rubber sheet, called "TC-BGI Series". The product is developed for applications in components for electric vehicles. It is designed to be used as heat dissipation measures for component parts of electric cars. It is a high hardness thermal interface rubber sheet offering high voltage endurance and thermal conductivity.
Products Covered:
- Gels
- Adhesives and Sealants
- Elastomers
- Resins
- Hoses and Tubing
- Grommets
- Coatings and Films
- Thermal Management Solutions
- Other Products
Applications Covered:
- Tires
- Suspension Systems
- Interiors and Exteriors
- Electrical Systems
- Engine and Drivetrain Systems
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Product Analysis
- 3.7 Application Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Automotive Silicone Market, By Product
- 5.1 Introduction
- 5.2 Gels
- 5.3 Adhesives and Sealants
- 5.4 Elastomers
- 5.5 Resins
- 5.6 Hoses and Tubing
- 5.7 Grommets
- 5.8 Coatings and Films
- 5.9 Thermal Management Solutions
- 5.10 Other Products
6 Global Automotive Silicone Market, By Application
- 6.1 Introduction
- 6.2 Tires
- 6.3 Suspension Systems
- 6.4 Interiors and Exteriors
- 6.5 Electrical Systems
- 6.6 Engine and Drivetrain Systems
- 6.7 Other Applications
7 Global Automotive Silicone Market, By Geography
- 7.1 Introduction
- 7.2 North America
- 7.2.1 US
- 7.2.2 Canada
- 7.2.3 Mexico
- 7.3 Europe
- 7.3.1 Germany
- 7.3.2 UK
- 7.3.3 Italy
- 7.3.4 France
- 7.3.5 Spain
- 7.3.6 Rest of Europe
- 7.4 Asia Pacific
- 7.4.1 Japan
- 7.4.2 China
- 7.4.3 India
- 7.4.4 Australia
- 7.4.5 New Zealand
- 7.4.6 South Korea
- 7.4.7 Rest of Asia Pacific
- 7.5 South America
- 7.5.1 Argentina
- 7.5.2 Brazil
- 7.5.3 Chile
- 7.5.4 Rest of South America
- 7.6 Middle East & Africa
- 7.6.1 Saudi Arabia
- 7.6.2 UAE
- 7.6.3 Qatar
- 7.6.4 South Africa
- 7.6.5 Rest of Middle East & Africa
8 Key Developments
- 8.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 8.2 Acquisitions & Mergers
- 8.3 New Product Launch
- 8.4 Expansions
- 8.5 Other Key Strategies
9 Company Profiling
- 9.1 3M Company
- 9.2 Bluestar Silicones
- 9.3 BRB International b.v
- 9.4 Elkem ASA
- 9.5 Evonik Industries AG
- 9.6 Gelest Inc
- 9.7 KCC Silicones
- 9.8 Kibaru Manufacturing Sdn Bhd
- 9.9 Momentive Performance Materials
- 9.10 Novagard Solutions
- 9.11 Primasil Silicones
- 9.12 Silicone Solutions
- 9.13 Siltech Corporation
- 9.14 The Dow Chemical Company
- 9.15 Wacker Chemie AG
List of Tables
- Table 1 Global Automotive Silicone Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
- Table 3 Global Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
- Table 4 Global Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
- Table 5 Global Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
- Table 6 Global Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
- Table 7 Global Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
- Table 8 Global Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
- Table 9 Global Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
- Table 10 Global Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
- Table 11 Global Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
- Table 12 Global Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
- Table 13 Global Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
- Table 14 Global Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
- Table 15 Global Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
- Table 16 Global Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
- Table 17 Global Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
- Table 18 Global Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 19 North America Automotive Silicone Market Outlook, By Country (2021-2030) ($MN)
- Table 20 North America Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
- Table 21 North America Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
- Table 22 North America Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
- Table 23 North America Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
- Table 24 North America Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
- Table 25 North America Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
- Table 26 North America Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
- Table 27 North America Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
- Table 28 North America Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
- Table 29 North America Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
- Table 30 North America Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
- Table 31 North America Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
- Table 32 North America Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
- Table 33 North America Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
- Table 34 North America Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
- Table 35 North America Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
- Table 36 North America Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 37 Europe Automotive Silicone Market Outlook, By Country (2021-2030) ($MN)
- Table 38 Europe Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
- Table 39 Europe Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
- Table 40 Europe Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
- Table 41 Europe Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
- Table 42 Europe Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
- Table 43 Europe Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
- Table 44 Europe Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
- Table 45 Europe Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
- Table 46 Europe Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
- Table 47 Europe Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
- Table 48 Europe Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
- Table 49 Europe Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
- Table 50 Europe Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
- Table 51 Europe Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
- Table 52 Europe Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
- Table 53 Europe Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
- Table 54 Europe Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 55 Asia Pacific Automotive Silicone Market Outlook, By Country (2021-2030) ($MN)
- Table 56 Asia Pacific Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
- Table 57 Asia Pacific Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
- Table 58 Asia Pacific Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
- Table 59 Asia Pacific Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
- Table 60 Asia Pacific Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
- Table 61 Asia Pacific Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
- Table 62 Asia Pacific Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
- Table 63 Asia Pacific Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
- Table 64 Asia Pacific Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
- Table 65 Asia Pacific Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
- Table 66 Asia Pacific Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
- Table 67 Asia Pacific Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
- Table 68 Asia Pacific Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
- Table 69 Asia Pacific Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
- Table 70 Asia Pacific Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
- Table 71 Asia Pacific Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
- Table 72 Asia Pacific Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 73 South America Automotive Silicone Market Outlook, By Country (2021-2030) ($MN)
- Table 74 South America Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
- Table 75 South America Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
- Table 76 South America Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
- Table 77 South America Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
- Table 78 South America Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
- Table 79 South America Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
- Table 80 South America Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
- Table 81 South America Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
- Table 82 South America Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
- Table 83 South America Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
- Table 84 South America Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
- Table 85 South America Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
- Table 86 South America Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
- Table 87 South America Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
- Table 88 South America Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
- Table 89 South America Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
- Table 90 South America Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 91 Middle East & Africa Automotive Silicone Market Outlook, By Country (2021-2030) ($MN)
- Table 92 Middle East & Africa Automotive Silicone Market Outlook, By Product (2021-2030) ($MN)
- Table 93 Middle East & Africa Automotive Silicone Market Outlook, By Gels (2021-2030) ($MN)
- Table 94 Middle East & Africa Automotive Silicone Market Outlook, By Adhesives and Sealants (2021-2030) ($MN)
- Table 95 Middle East & Africa Automotive Silicone Market Outlook, By Elastomers (2021-2030) ($MN)
- Table 96 Middle East & Africa Automotive Silicone Market Outlook, By Resins (2021-2030) ($MN)
- Table 97 Middle East & Africa Automotive Silicone Market Outlook, By Hoses and Tubing (2021-2030) ($MN)
- Table 98 Middle East & Africa Automotive Silicone Market Outlook, By Grommets (2021-2030) ($MN)
- Table 99 Middle East & Africa Automotive Silicone Market Outlook, By Coatings and Films (2021-2030) ($MN)
- Table 100 Middle East & Africa Automotive Silicone Market Outlook, By Thermal Management Solutions (2021-2030) ($MN)
- Table 101 Middle East & Africa Automotive Silicone Market Outlook, By Other Products (2021-2030) ($MN)
- Table 102 Middle East & Africa Automotive Silicone Market Outlook, By Application (2021-2030) ($MN)
- Table 103 Middle East & Africa Automotive Silicone Market Outlook, By Tires (2021-2030) ($MN)
- Table 104 Middle East & Africa Automotive Silicone Market Outlook, By Suspension Systems (2021-2030) ($MN)
- Table 105 Middle East & Africa Automotive Silicone Market Outlook, By Interiors and Exteriors (2021-2030) ($MN)
- Table 106 Middle East & Africa Automotive Silicone Market Outlook, By Electrical Systems (2021-2030) ($MN)
- Table 107 Middle East & Africa Automotive Silicone Market Outlook, By Engine and Drivetrain Systems (2021-2030) ($MN)
- Table 108 Middle East & Africa Automotive Silicone Market Outlook, By Other Applications (2021-2030) ($MN)
