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Automotive silicone market forecast to reach $3.33 billion by 2023

  11/19/2018 - Pune, India - The automotive silicone market is expected to grow from $2.37 billion in 2018 and reach $3.33 billion by 2023, at a CAGR of 7.1 percent from 2018 to 2023, according to MarketsandMarkets.com. The growth of the market can be attributed to the increasing demand for automotive silicone in various applications in emerging economies such as India, China, Brazil, and others. It is used in airbags, exhaust hangers, exterior trim, headlamps, hoses, grommets, and others. Automotive silicone plays a vital role in bonding and sealing, adding lubricity to weather stripping and side molding, auto paint additives, and others. It helps in improving the processing and efficiency of automotive components, owing to its properties such as high resistance to compression set and excellent electrical insulation. The use of silicone in interior and exterior application enhances and increases the performance and durability of automotive components. Elastomers are one of the largest type segments of the automotive silicone market, as they are used in various applications such as interior and exterior, engine components, electrical, and others. Silicone elastomers are generally stable, non-reactive and resistant to extreme environments and temperatures ranging from -55°C to +300°C while maintaining its useful properties. Silicone elastomers are widely used in the automotive industry to manufacture spark plug boots, connector seals, turbocharger hoses, silicone wiper blades, gaskets and ignition cables. The use of silicone elastomers has revolutionized building and designing in the automotive industry. APAC is expected to be the fastest-growing market for automotive silicone during the forecast period. The growing automotive industry in APAC has offered significant opportunities to the automotive silicone market to grow in the region. Increasing use of automotive silicone in various applications, such as exterior and interior, engine components and electrical applications, is driving the automotive silicone market in APAC. Major players such as DowDupont (U.S.), Evonik (Germany), Shin-Etsu (Japan), Momentive Performance Materials (U.S.) and Elkem (Norway) have adopted development strategies such as expansions, agreements and collaborations, and new product development to achieve growth in the automotive silicone market.

Friday, August 16, 2019

Industrial rubber market expected to reach $38.31 billion by 2026 - click to expand

U.S. Department of Commerce initiates circumvention probe of CORE steel from five countries - click to expand

Book of the day - Rubber Molding Principles - click to expand

Yokohama announces first half financials for 2019 - click to expand

Toyo Tires introduces the Extensa A/S II value oriented all-season tire - click to expand

Global automotive tire market forecast at $628 billion by 2026 - click to expand

Thursday, August 15, 2019

ChemSpec awarded NACD membership - click to expand

Global specialty nitrile butadiene rubber market forecast at $768.1 million by 2025 - click to expand

RTP acquires Zeotherm thermoplastic vulcanizate (TPV) product line from Zeon Chemicals - click to expand

Songwon Industrial Group reports positive results for second quarter - click to expand

Huntsman Polyurethanes announces ACS distributor in Canada - click to expand

H.B. Fuller completes sale of surfactants, thickeners and dispersants business to Tiarco - click to expand

Momentive to showcase new silicone technologies at K 2019 - click to expand

Wednesday, August 14, 2019

Freudenberg upgrades its quality process with new vision inspection units - click to expand

Global industrial yarn products for v-belts and industrial hose market forecast with a CAGR of 4.4 percent - click to expand

Halcyon Agri reports positive second quarter results - click to expand

Cooper Tire honored by 2020 Women on Boards organization - click to expand

Global green tires market forecast at $178.07 billion by 2026 - click to expand

Tuesday, August 13, 2019

Global market for corrosion protection rubber linings and coatings forecast at $12 billion by 2022 - click to expand

Cooper Tire to present at J.P. Morgan Auto Conference - click to expand

Nexen Tire returns as the Official Partner of Manchester City Football Club - click to expand

Hankook Tire to provide original equipment tires to the 2020 Ford Explorer - click to expand

Lion Elastomers completes acquisition of the Firestone Orange, TX, production site - click to expand

Cabot implements feedstock surcharge for all specialty carbon black products manufactured in North America - click to expand

Monday, August 12, 2019

Toyo Tire to start a tire manufacturing plant in Serbia by 2022 - click to expand

JSR posts 7.8 percent decrease in Elastomer Division sales revenue for first quarter - click to expand

Enviro receives ISO 9001 and ISO 14001 certification - click to expand

Rain Carbon to hold ribbon cutting ceremony for its new hydrogenated hydrocarbon resins production facility in Germany - click to expand

Haydale to launch advanced nanomaterial additives for elastomers at IRC 2019 - click to expand

Global automotive run-flat tire market forecast at 3 percent through 2023 - click to expand

Global polymer emulsion market forecast at $55.81 billion by 2026 - click to expand

Market Reports

Global automotive tire market forecast at $628 billion by 2026 - click to expand

Global green tires market forecast at $178.07 billion by 2026 - click to expand

Industrial Rubber Market is expected to reach $38.31 Billion by 2026 - click to expand

Global specialty nitrile butadiene rubber market forecast at $768.1 million by 2025 - click to expand

Global industrial yarn products for V-belts and industrial hose market forecast with a CAGR of 4.4% - click to expand

Global market for corrosion protection rubber linings and coatings forecast at $12 billion by 2022 - click to expand

Global automotive run-flat tire market forecast 3% through 2023 - click to expand

Global polymer emulsion market forecast at $55.81 Billion by 2026 - click to expand

Liquid Silicone Rubber Injection Molding Machine Market to Register a CAGR of 8.93% by 2025 - click to expand

USTMA forecasts increase in U.S. tire shipments for 2019 - click to expand

Global carbon black market is projected to reach $14.5 Billion by 2024 - click to expand

Global steel cord market forecast with a CAGR of 4.2% through 2023 - click to expand

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