1 October 2019: The automotive silicone market is expected to witness growth due to growing demand for its applications in electronic, suspension system of vehicles, interior & exterior, and Engine Drive Train (ETD) systems. Reliable material and high quality of the product along with superior characteristics and versatile properties have propelled the growth of the market. It has high compatibility with other products such as rubber, adhesives, sealants, and coatings and also has advantages such as dielectric properties, cold resistance, weatherability, water repellency, defoaming properties, adhesiveness, releasability, and heat resistance.
Silicone Elastomers Boost Automotive Building and Designing
The market is segmented into adhesives & sealants, coatings, rubber, and others based on the product type. In 2017, rubber was the largest segment in terms of revenue. Silicone rubber is used in various applications, mainly in vehicles’ high temperature applications. The product is available in various formulations for curing, production, and molding. It is also used to maintain high quality standards and to make the processing easier in high temperature conditions of turbocharger hoses with temperature as high as 225°C.
It is also used in tires, electronic sealants, and cables. Automotive silicone coatings can resist temperature up to 350°C and can withstand temperature up to 650°C with appropriate pigments and filler.
Silicone elastomers are resistant to extreme temperatures ranging from -55 °C to 300 °C and are able to maintain its properties in severe conditions as they are stable and non-reactive. They are used to manufacture turbocharger hoses, plug boots, connector seals, gaskets, ignition cables, and wiper blades. Its various applications in the automotive industry has revolutionized the product manufacturing and designing. They are also immune to wetting and have scratch resistant and weathering resistant properties. The product has high compatibility with different types of substrates and promotes efficiency, which is fueling its demand.
Market Insights
Increasing demand for lightweight material and improving vehicle efficiency has led to the growth of the industry. Expansion of the automotive industry in countries such as China, India, and South Korea is anticipated to drive the growth of the market.
For instance, in September 2018, the Dow Chemical Company began building new plant in Jiangsu's Zhangjiagang, which is expected to be fully operational by 2021. Shin-Etsu Chemical Co., Ltd. also announced its plan of expanding its silicone manufacturing output by 50% in the same year.
The increasing use of electric and hybrid vehicles provides opportunities for the growth of the market. Leading companies account for a major industry share leading to high production costs resulting in the concentration of the market. Some of the major market players of automotive silicone market are Wacker Chemie AG, The Dow Chemical Company, Shin-Etsu Chemical Co., Ltd, and Momentive Performance Materials.
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