888-776-0942 from 8 AM - 10 PM ET

CHICAGO , June 8, 2022 /PRNewswire/ -- According to the new market research report "Automotive Silicone Market by Type (Elastomers, Gels, Resins, Fluids), Application (Interior & Exterior, Engines, Electrical, Tires), and Region (North America , Europe , Asia Pacific , Middle East & Africa , South America ) - Global Forecasts to 2027", published by MarketsandMarkets™, the global Automotive Silicone Market size is projected to grow from USD 2.2 billion in 2022 to USD 3.1 billion by 2027, at a CAGR of 7.1% between 2022 and 2027.Automotive silicones possess strength, resistance, and durability needed in various automotive applications. Silicones possess high-temperature resistance and outstanding weathering properties, which extend the service life of automotive assemblies. The rising use of automotive silicones owing to high growth in the automotive industry, especially in emerging economies, drives the automotive silicone market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=156048997

Browse in-depth TOC on "Automotive Silicone Market"

View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/automotive-silicone-market-156048997.html

The interior & exterior application segment is estimated to lead the automotive silicone market during the forecast period.

Based on application, the interior & exterior use of automotive silicone accounted for the largest market share in 2021 and is projected to grow at a CAGR of 6.8% in terms of value. Airbags, exhaust hangers, hoses, exterior trims, headlamps, shock absorbers, grommets, interior trims, and membranes in the interior & exterior application utilize automotive silicone. Airbags are defined as safety devices installed in a vehicle, which consist of a cushion that is designed to inflate rapidly in the event of a collision and protect passengers from impact. Automotive silicone coating helps in keeping the airbags flexible, resistant to temperature change, aging, and abrasion.

The electrical application is expected to have the fastest growth in the automotive silicone market during the forecast period.

Based on application, the electrical segment in the automotive silicone application accounted for the fastest growth in 2021 with a CAGR of 8.1%, in terms of value. Electrical transmission is a mechanism in a power transmission system that provides controlled application of the power. Often the term transmission refers simply to the gearbox that uses gears and gear trains to provide speed and torque conversions from a rotating power source to another device. Silicone compounds are used for providing maximum safety in cables that are used in the power transmission system.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=156048997

Asia Pacific is expected to be the largest market for automotive silicone during the forecast period.

Asia Pacific leads the overall automotive silicone market in terms of both value and volume, followed by Europe and North America . Growing automotive industry and shifting of manufacturing facilities from the developed regions, such as North America and Europe , are expected to drive the market in Asia Pacific . The growth in the region is attributed to the increase in population and income levels.

The key players in this market are The Dow Chemical Company (US), Wacker Chemie AG (Germany), Momentive (US), Shin-Etsu Chemical Co. Ltd. (Japan ), Elkem ASA (Norway ), Evonik Industries AG (Germany), Gelest Inc. (US), Henkel (Germany) , Primasil Silicones (UK), and Siltech Corporation (Canada ).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=156048997

Browse Adjacent Markets: Resins and Polymers Market Research Reports & Consulting

Silicone Market by Type (Elastomers, Fluids, Resins, Gels), End-use Industry (Industrial Process, Building & Construction, Personal Care & Consumer Products, Transportation, Electronics, Medical & Healthcare, Energy), Region - Global Forecast to 2026

https://www.marketsandmarkets.com/Market-Reports/silicone-market-709.html

Silicone Elastomers Market by Type (HTV, RTV, LSR), By Process (Extrusion, Liquid Injection Molding, Injection Molding), End-Use Industry (Building & Construction, Electrical & Electronics, Automotive & Transportation) & Region - Global Forecast to 2027

https://www.marketsandmarkets.com/Market-Reports/silicone-elastomers-market-6310524.html

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact: Mr. Aashish Mehra MarketsandMarkets™ INC.  630 Dundee Road  Suite 430  Northbrook, IL 60062  USA : +1-888-600-6441  Email: [email protected]   Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-silicone-market.asp  Visit Our Website: https://www.marketsandmarkets.com  Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-silicone.asp

More news releases in similar topics

Cision Distribution 888-776-0942 from 8 AM - 9 PM ET