The Automotive Silicone Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In accordance with The Business Research Company’s comprehensive analysis in the Automotive Silicone Global Market Report 2024, the automotive silicone market has exhibited robust growth in recent years, expanding from $6.99 billion in 2024 to a projected $7.51 billion by the end of the same year, boasting a noteworthy compound annual growth rate (CAGR) of 7.5%. This positive trajectory is rooted in historical factors such as the surge in automotive manufacturing, stringent emission standards, heightened consumer demand for comfort, increased vehicle electrification, and stringent performance and durability requisites.

Anticipated on the horizon is a substantial growth trajectory for the automotive silicone market, projected to ascend to a commendable $10 billion by 2028, sustained by a robust compound annual growth rate (CAGR) of 7.4%. The growth forecast is underpinned by transformative shifts towards electric and hybrid vehicles, breakthroughs in lightweighting technologies, escalating demand for cutting-edge safety features, ongoing advancements in autonomous vehicle development, and a resolute commitment to environmental sustainability.

Within this dynamic landscape, noteworthy trends in the upcoming period encompass the seamless integration of advanced technologies into vehicle interiors and electronics, the expansive utilization of coatings for exterior applications, the pioneering development of silicone-based tires, and a resounding emphasis on sustainable solutions.

Rising demand for fuel-efficient vehicles is expected to propel the growth of the automotive silicone market going forward. Fuel-efficient vehicles are vehicles that give better mileage per gallon of fuel than other less efficient models. Automotive silicones contribute to weight reduction in automobiles, which results in lower emissions of pollutants and increased fuel efficiency. For instance, in February 2021, according to The King Abdullah Petroleum Studies and Research Center(KAPSARC), a Saudi Arabia-based advisory think tank, consumer adoption of electric vehicles (EVs) - including hybrids, plug-in hybrids, and pure battery electric - is a critical step toward improving energy use and lowering emissions in the transportation industry, according to May 2022 published, Global EV Outlook report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, rising demand for fuel-efficient vehicles is driving the growth of the automotive silicone market.

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The automotive silicone market market covered in this report is segmented –
1) By Type: Elastomers, Resins, Gels, Fluids
2) By Form: Sealant, Tape, Epoxy
3) By Application: Interior and Exterior, Engines, Electrical, Tires, Other Applications

Undoubtedly, the automotive silicone market is witnessing a notable trend towards product innovation, a phenomenon gaining considerable traction within the industry. A myriad of companies operating in this domain are actively engaged in the development of novel products infused with advanced technologies, strategically positioning themselves within the market. A case in point is Dow, a prominent US-based chemical corporation, which, in December 2022, introduced SILASTIC™ SA 994X Liquid Silicone Rubber (LSR). Distinguished by its primerless, self-adhesive, general-purpose, and self-lubricating attributes, this LSR, featuring a one-to-one mix ratio, is specifically designed for two-component injection molding with thermoplastic substrates such as polybutylene terephthalate and polyamide. This innovative series holds versatile applications across various automotive domains, embodying the industry's commitment to cutting-edge solutions.

The automotive silicone market report table of contents includes:
1. Executive Summary
2. Automotive Silicone Market Characteristics
3. Automotive Silicone Market Trends And Strategies
4. Automotive Silicone Market - Macro Economic Scenario
5. Global Automotive Silicone Market Size and Growth

.....

31. Global Automotive Silicone Market Competitive Benchmarking
32. Global Automotive Silicone Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive Silicone Market
34. Automotive Silicone Market Future Outlook and Potential Analysis
35. Appendix

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