Silicone are one of the fastest growing products around the world and their demand in the automotive sector is expected to grow rapidly due to rising investment by the manufacturers in novel products and technologies.
Market Analysis and Insights: Global Automotive Silicone Materials Market
Due to the COVID-19 pandemic, the global Automotive Silicone Materials market size is estimated to be worth US$ million in 2023 and is forecast to a readjusted size of US$ million by 2030 with a CAGR of % during the forecast period 2023-2030. Fully considering the economic change by this health crisis, Elastomers accounting for % of the Automotive Silicone Materials global market in 2022, is projected to value US$ million by 2030, growing at a revised % CAGR from 2023 to 2030. While Interior & Exterior segment is altered to an % CAGR throughout this forecast period.
Asia Pacific is expected to be the fastest-growing market for automotive silicone during the forecast period. China and India are among the fastest-growing economies in the world. India is projected to continue to be the fastest growing market for automotive silicone during the forecast period. The growth of the automotive silicone market in Asia Pacific can be attributed to the easy availability of raw materials used to manufacture these silicones and growing automotive industry. Lesser stringent regulations related to the use and manufacturing of the automotive silicone compared to North America and Europe also provide growth opportunities to the manufacturers of automotive silicone in the region.
Global Automotive Silicone Materials Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market?s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2018 to 2030. This section mentions the volume of production by region from 2018 to 2030. Pricing analysis is included in the report according to each type from the year 2018 to 2030, manufacturer from 2018 to 2023, region from 2018 to 2023, and global price from 2018 to 2030.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert?s opinions have been taken to understand the market better.
Global Automotive Silicone Materials Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2018 to 2030. by Application segment also provides consumption during the forecast period of 2018 to 2030. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Elastomers
Resins
Gels
Fluids
Segment by Application
Interior & Exterior
Engines
Electrical
Others
By Company
DowDuPont
Wacker Chemie (Germany)
Momentive Performance Materials (US)
Evonik (Germany)
Shin-Etsu (Japan)
Elkem (Norway)
KCC Corporation (South Korea)
Henkel AG & Co. (Germany)
Siltech (Canada)
Primasil Silicones (UK)
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
