Automotive Silicone Market Size 2023 to 2032
Automotive Silicone Market Size Worth $6.1 Billion by 2032 | CAGR: 8.5%: AMR
PORTLAND, OREGON, UNITED STATES, April 3, 2024 /EINPresswire.com/ -- Allied Market Research recently released a report titled "Automotive Silicone Market by Type (Elastomers, Resins, Gels, Others) and Application (Interior and Exterior, Engines, Electrical Systems, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global automotive silicone market reached $2.7 billion in 2022 and is projected to reach $6.1 billion by 2032, with a compound annual growth rate (CAGR) of 8.5% from 2023 to 2032.
Automotive silicones, high-performance polymers combining organic and inorganic characteristics, possess various properties such as heat and cold resistance, weatherability, water repellency, and adhesiveness, among others. These traits make silicones crucial in enhancing automotive dependability, safety, and reducing size, weight, and environmental impact. Manufacturers increasingly acknowledge the significance of silicones in advancing automotive technology, thereby boosting their usage in automotive applications.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : https://www.alliedmarketresearch.com/request-sample/5101
Key Growth Factors
The automotive manufacturing industry's rapid technological advancements have spurred the adoption of silicone materials, which is expected to drive the global automotive silicone market growth. However, regulatory measures and environmental concerns may pose challenges to market growth. Conversely, the surge in electric and autonomous vehicle production is anticipated to create lucrative opportunities for market expansion during the forecast period.
Type: Elastomers Sub-segment Projections
The elastomers sub-segment dominated the automotive silicone market with a share of 40.6% in 2022 and is expected to maintain its dominance throughout the forecast period. Silicone elastomers, utilized in seals, gaskets, and thermal interface materials, contribute significantly to automotive system effectiveness and dependability, thus driving the sub-segment's growth by 2032.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/purchase-enquiry/5101
Application: Interior and Exterior Sub-segment Projections
The interior and exterior sub-segment captured the highest market share of 41.4% in 2022 and is forecasted to maintain its lead by 2032. Silicone finds extensive applications in interior adhesives and sealants, trim, dashboard, as well as exterior gaskets, seals, moldings, paint protection, and vehicle lighting, propelling the sub-segment's growth.
Regional Analysis: Asia-Pacific Outlook
Asia-Pacific held the largest market share of 53.8% in the global automotive silicone market in 2022 and is poised for continued growth. The expanding automotive industry in the region is driving the demand for automotive silicone materials, making it a key growth driver for the Asia-Pacific market by 2032.
Key Players in the Automotive Silicone Market:
- Shin Etsu
- Momentive Performance Materials
- Evonik
- Wacker Chemie
- Primasil Silicones
- KCC Corporation
- Siltech
- Dowdupont
- Henkel AG & Co.
- Elkem Silicones
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/automotive-silicone-market/purchase-options
The report offers a comprehensive analysis of these key players' strategies, including new product launches, collaborations, expansions, joint ventures, and agreements, to bolster their market presence and maintain dominance across various regions. It provides insights into business performance, operating segments, product portfolios, and strategic maneuvers, thereby presenting a detailed competitive scenario in the market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Market Research
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