Automotive silicone market share is expected to reach CAGR 6.88 percent by 2030.

Pune, India – Silicone is an element which has moved from being used in microprocessors in engines of cars to widespread applications in the entire body of the car. Improvements in silicon chip technology which furthered the development of processor-based systems has driven the demand for the element. The emphasis on low carbon emissions and fuel efficiency is expected to be a banner period (2020-2027) for the global automotive silicone market, as per the analysis of Market Research Future (MRFR).

The global Automotive Silicone Market is expected to achieve a windfall due to the upswing noticed in sales of vehicles in the automotive sector. High demand for lightweight vehicles due to rapid urbanization and changing lifestyles of consumers can drive the market. This trend is supported by properties of silicone such as durability, resistance, and strength. The use of silicone in exterior paints, car parts, tires, and other parts can spur the market demand exponentially during the forecast period.

The skyrocketing gas prices has led to manufacturers shift to elements which can lower vehicle weight and overall emissions. Governments regulations such as the Corporate Average Fuel Economy (CAFÉ) which has specified standards for controlling fuel consumption rates and emission levels can positively impact the market. Consumer awareness of the element as well as emerging trends of electric vehicles (EVs) and hybrid vehicles can favor the global automotive silicone market till 2027.

But high production cost of vehicles and the exorbitant prices charged for silicone rubber are challenged faced by the market.

Some of the manufacturers operating in the global automotive silicone market are Wacker Chemie AG (Germany), Dow Corning Corporation (U.S.), Momentive (U.S.), Elkem Silicone (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), Rogers Corporation (U.S.), Nusil (U.S.), Bostik (U.S.), Evonik Industries AG (Germany), KCC Corporation (South Korea), ACC Silicones Ltd (U.K), CSL Silicone Inc. (Canada), and Kaneka Corporation (Japan).