New York, NY -- (SBWIRE) -- 01/26/2021 -- Automotive silicones are used in many ways for their high reliability, safety, and environment-friendliness and to make automobiles lighter. Automotive silicones are crucial for the advancement of automotive technology because of the range of properties, such as cold resistance, heat resistance, releasability, water repellency, adhesiveness, defoaming properties, and also have dielectric properties.

Companies Considered And Profiled In This Market Study:

Wacker Chemie, Evonik, Elkem Silicones, DowDuPont, Shin Etsu, ACC Silicones, KCC Corporation, Henkel Ag & Co., Siltech, and Primasil Silicones, among others.

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Market Drivers:

The market is propelled majorly due to the increasing demand by the automotive industry. Additionally, the growing demand for lightweight material and high efficiency and as a result of increasing initiatives for fuel-efficient automobiles is major in increasing the growth of the automotive silicone market. The growth of the automotive industry in developing countries, such as China, India, and South Korea, is expected to propel market demand during the forecast period. The growing trend of private transport is boosting the concept of ownership of cars, driving the manufacturing of a wide range of synthetic material and high-resistance textiles, along with leather products for better applications. The market is also propelled due to the significant role of silicones.

For the purpose of this report, Reports and Data have segmented the global automotive silicone market on the basis of product type, automotive type, application, and region:

Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

Rubber
Adhesives & Sealants
Coatings
Others

Automotive Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

Passenger Vehicle
Commercial Vehicle

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Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

Interior & Exterior
Electrical Systems
Engines
Others

Regional Outlook:

North America held the largest market share and is expected to witness considerable growth during the forecast period due to its applications in the electrical systems for its properties, such as heat and cold resistivity and also its dielectric properties.

Further key findings from the report suggest:

By product type, rubber contributed to the largest market share in 2018 and is expected to grow at a rate of 6.1% in the forecast period. Rubber has many distinctive properties that makes it useful in the automotive manufacturing industry. As automobiles are exposed to varying temperatures and various chemicals, rubber becomes a material of choice owing to its ability to withstand harsh environments.

By automotive type, passenger vehicles held a larger market share in 2018 and are likely to witness a growth rate of 6.6% in the forecast period.

By region, the Asia Pacific region dominated the market in 2018 and is projected to have the fastest CAGR of 6.7% in the forecast period. The market dominance of the Asia Pacific region is owing to the easy availability of raw materials required in manufacturing silicones, coupled with the growth of the automotive industry.

In May 2019, KCC Corporation, a leading player in the market, completed the acquisition of U.S.-based Momentive Performance Materials Inc., global silicone manufacturer. With the acquisition, KCC has a 45.5% stake in the company and plans to develop high value-added business aiming at silicone as a major part of the company's main business, while also obtaining worldwide credibility and competitiveness by its long-term insights and sound financial plans.

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Aims Of The Study:

To curate a concise report of the market, highlighting the key vendors and significant changes observed in the market.

Examine the existing and emergent trends and promising technological innovations in the market.

Assessment of market values, modeled values, and international trade values, to deduce the market volume.

Offered research-backed insights for the parent market, cost analysis, and prevailing industry trends
Calculate capacity utilization rate.

Table of Content:

Chapter 1. Market Synopsis

1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Automotive Silicone Segmentation & Impact Analysis

4.1. Automotive Silicone Material Segmentation Analysis
4.2. Industrial Outlook

4.2.1. Market indicators analysis
4.2.2. Market drivers analysis

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