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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.

Tuesday, March 26, 2019

Satisfaction with original equipment tires helps automakers keep owners loyal, J.D. Power finds - click to expand

Global automotive tire market forecast to grow with a CAGR of 6.3 percent through 2027 - click to expand

Synthetic latex polymers market projected to grow at a CAGR of 5.41 percent through 2024 - click to expand

Lubrizol adds capacity to its TPU manufacturing line in Shanghai - click to expand

Birla Carbon completes 25 years of operation in Hungary - click to expand

Monday, March 25, 2019

Birla Carbon to increase base prices for all carbon black markets in North America - click to expand

GM to invest $300 million, add 400 jobs at Michigan plant for new Chevrolet electric vehicle - click to expand

Rubber Division, ACS now offering all training courses remotely - click to expand

Global market for stabilizers forecast to reach $5.5 billion by 2025 - click to expand

Davis-Standard¹s global converting platform featured at ICE USA - click to expand

Friday, March 22, 2019

Book of the day - Fatigue, Stress and Strain of Rubber Components, by Judson Bauman - click to expand

ARPM announces Innovation Symposium on April 18 - click to expand

YourMechanic adds Goodyear.com for tire sales and installation services - click to expand

TA Instruments introduces new Rheo-Raman accessory for the Discovery hybrid rheometer - click to expand

Adhesive tapes market projected to reach $69 billion by 2022 - click to expand

Thursday, March 21, 2019

TA Instruments analyzer tests for mechanical behavior of materials - click to expand

Global thermoplastic elastomers market size is forecast at $27.8 billion by 2026 - click to expand

Ace Products & Consulting hires business manager - click to expand

Yokohama Tire's mobile tire specs app for dealers wins iF Design award - click to expand

Plastics & Rubber Technology Conference calls for abstracts - click to expand

Wednesday, March 20, 2019

Safic-Alcan acquires Langley-Smith & Company - click to expand

Firestone Liberia to shed 800 jobs by April 2019 - click to expand

Michelin launches Agilis CrossClimate tire for small business owners and commercial fleets - click to expand

U.S. market for low rolling resistance tires forecast with a CAGR of 10.8 percent through 2028 - click to expand

Southeast Asia tire market projected to grow at a CAGR of over 7.5 percent through 2024 - click to expand

Tuesday, March 19, 2019

Hankook Tire adds Nissan Altima to growing original equipment portfolio - click to expand

Cooper launches new long haul steer tire as part of its PRO Series commercial line - click to expand

Kraton to build Cariflex semi works latex unit in Brazil - click to expand

Mitsui Chemicals pursues applications for temperature-sensitive elastomer - click to expand

Nitrile butadiene rubber latex market forecast at $2.4 billion by 2025 - click to expand

Market Reports

Global automotive tire market forecast to grow with a CAGR of 6.3% through 2027 - click to expand

Global nitrile gloves market is expected to reach $3.30 billion by 2026 - click to expand

The synthetic latex polymers market is projected to grow at a CAGR of 5.41% through 2024 - click to expand

Global market for stabilizers forecast to reach $5.5 billion by 2025 - click to expand

Adhesive tapes market projected to reach $69 Billion by 2022 - click to expand

Global thermoplastic elastomers market size is forecast at $27.8 billion by 2026 - click to expand

The U.S. market for low rolling resistance tires forecast with a CAGR of 10.8% through 2028 - click to expand

South East Asia tire market is projected to grow at a CAGR of over 7.5% through 2024 - click to expand

Global silane and silicone market was estimated at $14.4 billion in 2017 and is expected to hit $22.03 billion in 2025 - click to expand

Nitrile butadiene rubber latex market forecast at $2.4 billion by 2025 - click to expand

Global mold release market forecast with a CAGR of 5.7% through 2023 - click to expand

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