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Automotive Silicone Market Trends

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

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Automotive Silicone Market Trends

The automotive industry's focus on lightweighting to improve fuel efficiency and reduce emissions is driving the demand for lightweight silicone materials. Silicone's low density and high strength-to-weight ratio make it an attractive choice for automotive components that require weight reduction. The rising adoption of electric vehicles is creating new opportunities for silicone materials in EV battery packs, electric drivetrains, and thermal management systems. Silicone's electrical insulating properties and resistance to high temperatures are advantageous in electric vehicle components.

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.