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Automotive Silicone Market Analysis

Report ID: GMI6412
Published Date: Aug 2023
Report Format: PDF

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Automotive Silicone Market Analysis

Automotive Silicone Market Size, By Type, 2021 - 2032 (USD Billion)

Based on type, the automotive silicone market is segmented as silicone elastomers, silicone adhesives and sealants, silicone fluids and greases, silicone resins. Silicone Elastomers held a majority market value of USD 0.7 billion in 2022. Silicone Elastomers is used in compression molding processes to manufacture automotive components, including hoses, diaphragms, and spark plug boots. Silicone offer effective protection against moisture and environmental elements, making them suitable for various automotive electronics.

Automotive Silicone Market Revenue Share, By Vehicle Type, (2022)

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Based on application, the automotive silicone market is segmented as passenger vehicles, commercial vehicles, electric and hybrid vehicles. Passenger vehicles held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace through 2032. Silicone materials are used in various automotive safety systems, such as airbags and seat belts, to enhance passenger safety and comfort. Silicone is used in interior components like dashboard panels, armrests, and instrument clusters to provide a pleasant tactile experience and improve aesthetics.

Based on application, the automotive silicone market is segmented as interior & exterior, electrical system, engine & drive train system, suspension system, others. Interior & exterior held a dominant market share in 2022 and is anticipated to grow at 6.8% CAGR till 2032. Silicone materials can enhance the appearance of exterior and interior components, making them attractive for decorative trims and weatherproofing elements. Thus, the high-quality services and growing usage of Automotive silicone at food centres are anticipated to expedite the business growth.

U.S. Automotive Silicone Market Size, 2020- 2032 (USD Billion)

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U.S. automotive silicone market dominated the North American region with a revenue of USD 0.5 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032 The overall growth and expansion of the automotive industry in North America drive the demand for automotive silicone materials. As the automotive sector advances and introduces new models and technologies, the need for silicone-based components and solutions increases.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of automotive silicone was worth over USD 2.2 billion in 2023 and is estimated to reach USD 4.3 billion by the end of 2032.

Interior & exterior segment will record around 6.8% CAGR from 2023 to 2032 as automotive silicone enhance the appearance of exterior and interior components, making them attractive for decorative trims and weatherproofing elements.

U.S. automotive silicone industry size was around USD 500 million in 2022 and is anticipated to expand at a significant pace from 2023-2032 owing to the expansion of the automotive industry across the region.

Dow Inc., Wacker Chemie AG, Elkem ASA, Momentive Performance Materials Inc., Shin-Etsu Chemical Co., Ltd., KCC Corporation, Reiss Manufacturing, Inc., Kaneka Corporation, Reiss Manufacturing, Inc., Specialty Silicone Products, Inc., Quantum Silicones, LLC, Reiss Manufacturing, Inc., Evonik Industries AG, Mesgo S.p.A., Siltech Corporation among others.