Automotive Silicone Elastomer Market 2019 To See Worldwide Massive Growth – Industry Trends, Forecast Of Top Countries 2026
Silicone elastomers have high quality, versatile properties, and are used in different automotive applications such as interiors, drivetrain, and electronic and electrical systems. Silicone elastomer base polymer working in intense heat, they protect against aggressive substance, or they act as seals, vibration dampers, conductors, or insulators due to their versatile properties.
Rise in demand for fuel-efficiency, stringent emission norms by government bodies across the globe, and stringent regulations regarding pollution and energy consumption are prompting OEMs to focus on weight reduction. These factors are likely to drive the demand for automotive silicone elastomer during the forecast period. Likewise, rise in demand for high-efficiency and lightweight material in the automotive industry, in order to enhance the performance of the vehicle, and high rate of adoption of highly reliable materials from OEMs are likely to boost the demand for automotive silicone elastomer during the forecast period.
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The global automotive silicone elastomer market can be segmented based on application, location, vehicle type, and region. Based on applications the automotive silicone elastomer market can be segregated into EV battery seals, airbags, engine gaskets, headlamps, ignition cables, radiator seals, vibration damping, shock absorber, and others. An engine plays an important role in the vehicle. It requires high power to operate different components of the vehicle. High performance gaskets are required, which operate flawlessly under extreme conditions, in order to achieve high performance from the engine. Consequently, demand for engine gasket is likely to remain high during the forecast period, which in turn is likely to boost the demand for silicone elastomer during the forecast period.
Based on vehicle type, the automotive silicone elastomer market can be segmented into passenger vehicle and commercial vehicle. The passenger vehicle segment is anticipated to drive the automotive silicone elastomer market during the forecast period owing to the increasing production of passenger vehicles across the globe. Major OEMs are emphasizing on continuous research and development on new exterior and interiors of vehicles in order to enhance the performance of passenger vehicles by weight reduction.
In terms of location, the automotive silicone elastomer market can be segregated into interiors and exteriors. Silicone elastomers are used in the interior as well as exterior of the vehicle. In the vehicle interior, they provide cushioning, load bearing, vibration suspension, and shock absorption qualities to car seats and dashboard, which enhance comfort and driving experience.
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Based on region, the automotive silicone elastomer market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to hold major share of the global automotive silicone elastomer market owing to the presence of major automotive hubs in China, India, Japan, and South Korea. China is a leading manufacturer of passenger vehicles across the globe and recently, India become the fourth-largest manufacturer of vehicles in the world. Demand for silicone elastomers in Europe and North America is expected to remain moderate during the forecast.
Key players operating in the global automotive silicone elastomer market include Elkem Silicones, Wacker Chemie AG, Primasil Silicones Limited, International Silicone Technologies, Silex Ltd, and ACC Silicones Ltd.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
- Tailwinds and headwinds molding the market’s trajectory
- Market segments based on products, technology, and applications
- Prospects of each segment
- Overall current and possible future size of the market
- Growth pace of the market
- Competitive landscape and key players’ strategies
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