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How has the automotive silicone market market grown over the years?

The size of the automotive silicone market has seen significant growth in the last few years. It is set to expand from $7.47 billion in 2024 to $8.03 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this growth during the historic period include increased automotive production, strict emission standards, heightened demand for comfort among consumers, the surge in vehicle electrification, and higher performance and durability demands.

What Is the forecasted market size and growth rate for the automotive silicone market market?

The market size of automotive silicone is projected to witness robust expansion in the upcoming years, anticipated to reach a valuation of “$10.92 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.0%. The predicted growth during the forecast period can be assigned to the trend towards electric and hybrid vehicles, progression in lightweight material, a rising demand for enhanced safety features, the progression of autonomous Vehicle, and a focus on environmental sustainability. Key trends during the forecast period encompass the integration of advanced interiors and electronics, widening of coatings for exterior applications, the invention of silicone-based tires, and an emphasis on sustainable solutions.

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What are the major factors driving growth in the automotive silicone market market?

The automotive silicone market is predicted to expand due to the escalating demand for fuel-efficient automobiles. These are vehicles that offer superior mileage for every gallon of fuel when compared to less efficient models. The use of automotive silicones in vehicles contributes to a reduction in weight, which leads to a decrease in pollutant emissions and boosted fuel efficiency. As an illustration, the Internal Energy Agency, an autonomous intergovernmental entity based in France reported that over 2.3 million electric cars were sold in the first quarter of 2023. This marked a 25% rise from the same period in 2022. By 2023’s conclusion, projected sales are anticipated to hit 14 million, indicating a 35% increase year-on-year, with the growth rate picking up in the latter part of the year. Hence, the mounting demand for fuel-efficient vehicles can be credited for driving the automotive silicone market’s growth.

What key areas define the segmentation of the global automotive silicone market Market?

The automotive silicone market market covered in this report is segmented –

1) By Type: Elastomers, Resins, Gels, Fluids

2) By Form: Sealant, Tape, Epoxy

3) By Application: Interior and Exterior, Engines, Electrical, Tires, Other Applications

Subsegments:

1) By Elastomers: Silicone Rubber, Liquid Silicone Rubber (LSR), High-Temperature Vulcanized (HTV) Silicone

2) By Resins: Silicone Resins, Modified Silicone Resins, Alkoxy-Modified Silicone Resins

3) By Gels: Silicone Gels, Thermally Conductive Silicone Gels, Pressure-Sensitive Adhesive Silicone Gels

4) By Fluids: Silicone Fluids, Dimethyl Silicone Fluids, Phenyl Methyl Silicone Fluids

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What are the top market players propelling the growth of the automotive silicone market industry?

Major companies operating in the automotive silicone market market include Evonik Industries, Elkem Silicones, Shin-Etsu Chemical Co. Ltd., Momentive Inc., KCC Corporation, Henkel AG & Co. KGaA, Siltech Corporation, Primasil Silicones, ACC Silicones Ltd., CSL Silicone Inc., Rogers Corporation, NuSil Technology LLC, Bostik, Laur Silicone Inc., DOWSIL, CHT Group, Silicones Emerald Performance Materials, GELEST INC., Jiangsu Mingzhu Silicone Rubber Material Co. Ltd., Kaneka Corporation, DuPont de Nemours Inc., ARCOSILICONE.COM, Simtec Systems GmbH, Vanguard Products Corporation, BJB Enterprises Inc., Klinger IGI Inc., Polymershapes, Wacker Chemical Corp., Teknowate, Tempron Products Corp.

What are the key trends shaping the future of the automotive silicone market market?

Product modernization is becoming an increasingly significant trend in the automotive silicone market. Numerous businesses within this market are introducing new products which utilize cutting-edge technology to consolidate their market standing. For example, in December 2022, the American chemical corporation, Dow, introduced SILASTIC SA 994X Liquid Silicone Rubber (LSR). This new product functions without the need for a primer, adheres itself, serves general purposes, and self-lubricates, with a one-to-one mix ratio LSR, tailored for two-component injection molding that includes thermoplastic substrates like polybutylene terephthalate and polyamide. There are a plethora of automotive applications for this new series.

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What regions are dominating the automotive silicone market market growth?

Asia-Pacific was the largest region in the automotive silicone market in 2024. The regions covered in the automotive silicone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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