Silicone is becoming more commonly used in the automotive industry for a number of applications. Silicone has become increasingly important in the evolution of automotive technology as it is increasingly used in automobiles to improve reliability, protection, and comfort while also reducing vehicle weight. Because of population growth, rising income levels, rising living standards, and rising customer preferences for high-performance cars, the automotive industry in APAC is rapidly expanding. As a result of the region's rapid economic growth, many foreign investors and automakers are building manufacturing facilities there.
Adroit Market Research study on the global market for Automotive Silicone offers a holistic view of the industry from 2020 to 2028 as forecast period, including factors such as market drivers, limitations, opportunities, threats and regulatory overview. The market has been analyzed from 2018 to 2028, with a base year estimate of 2019 and a projection from 2020 to 2028. The report covers the current status and potential characteristics of the market at both the global and the country level. Moreover, the report also assesses market competition with Porter's analysis of five strengths and places leading players on the basis of their product range, regional presence, strategic initiatives and overall sales. Prominent players in the global composite resin market have been analyzed in depth.
The market is being driven by growing demand for lightweight materials in the automotive industry and an expanding automotive industry globally. Both wrought and cast lightweight metals can be used in the car. Aluminum in stamped sheet form has the ability to be commonly used in automotive frames and closures. Due to the recovery of the economy and increased vehicle production, the demand for automotive silicone in North America is expected to rise significantly during the forecast period. Due to the slow growth of the European economy, the demand in Europe is expected to expand at a sluggish pace during the forecast period.
Key players in this market are KCC Corporation, Dowdupont, Siltech, Wacker Chemie, Momentive Performance Materials, Mccoy Performance Silicones, Silicone Solutions, Elkem Silicones, Simtech Silicone Parts
Key Segments of the Global Automotive Silicone Market
Product Overview, 2018-2028 (USD Million)
- Adhesives & Sealants
Application Overview, 2018-2028 (USD Million)
- Interior & Exterior
- EDT System
- Electrical System
- Suspension Systems
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America