Vancouver, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The global automotive airbag silicone market size reached USD 237.5 Million in 2020 and is expected to register a CAGR of 15.4% during the forecast period, according to latest analysis by Emergen Research. Global automotive airbag silicone market revenue is expected to increase significantly during the forecast period due to increasing installation of airbags in passenger and commercial vehicles. Furthermore, increasing deployment of stringent safety regulations by governments of various countries is expected to further support growth of the global automotive airbag silicone market going ahead.
However, concerns regarding product reliability and product recalls are some key factors expected to hamper growth of the global automotive airbag silicone market to some extent during the forecast period.
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Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 237.5 Million |
| CAGR (2023–2032) | 15.4% |
| Revenue forecast in 2032 | USD 1,301.37 Million |
| Base year for estimation | 2020 |
| Historical data | 2017–2019 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Million and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Airbag Position, Vehicle Type, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, South Africa, Turkey |
| Key companies profiled | Wacker Chemie AG, Robert Bosch GmbH, Continental AG, Mitsubishi Electric Corporation, Kolon Industries, Inc., ZF Friedrichshafen AG, Toray Industries, Inc., Toyobo Co., Ltd., Shin-Etsu Chemical Co., Ltd., and DENSO Corporation |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global automotive airbag silicone market is fairly fragmented, with a large number of large and medium-sized market players accounting for a major revenue share. Some prominent players operating in the automotive airbag silicone market are:
- Wacker Chemie AG
- Robert Bosch GmbH
- Continental AG
- Mitsubishi Electric Corporation
- Kolon Industries, Inc
- ZF Friedrichshafen AG
- Toray Industries, Inc.
- Toyobo Co., Ltd.
- Shin-Etsu Chemical Co., Ltd.
- DENSO Corporation
Strategic Development
OEMs (Original Equipment Manufacturers) are focusing on strategies to absorb the major cost of input due to government mandate for second airbag requirement in passenger cars on Indian roads from 1 April 2021 (according to a notification dated 28 December 2020). This development is expected to impact vehicle sales in the short term. The Ministry of Road Transport and Highways in India has proposed mandatory implementation of airbags for co-driver or front passenger in all cars, besides the steering wheel-mounted airbags for the driver.
In March 2019, Wacker Chemie AG launched a new training facility at the Wacker Academy in Tsukuba, Japan. The facility primarily provides workshops on silicone products for automotive, electronics, sealants, and skincare industries.
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Some Key Highlights in the Report
- Rising usage of cut-and-sewn seam-sealed airbags in vehicle front to diminish damage due to initial impact or collision effects is a key factor driving revenue growth of the cut-and-sewn seam-sealed segment, which is expected to register significantly robust CAGR over the forecast period.
- In terms of revenue, the commercial vehicle segment is expected to register significant growth over the forecast period due to increasing implementation of stringent regulations by governments worldwide.
- In terms of revenue share, Europe is expected to register steady growth during the forecast period due to robust presence of international players such as Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, and Autoliv Inc. in countries in the region.
- North America is expected to register significant revenue growth during the forecast period due to increasingly stringent regulations concerning road safety in countries in the region.
Browse the complete Global Automotive Airbag Silicone Market Research Report – Industry Analysis, Size, Share, Growth, Trends @ https://www.emergenresearch.com/industry-report/automotive-airbag-silicone-market
Emergen Research has segmented the global automotive airbag silicone market on the basis of type, airbag position, vehicle type, and region:
- Type Outlook (Revenue, USD Million; 2019–2032)
- One-Piece-Woven
- Cut-And-Sewn Seam-Sealed
- Airbag Position Outlook (Revenue, USD Million; 2019–2032)
- Curtain/Side
- Front
- Knee
- Vehicle Type Outlook (Revenue, USD Million; 2019–2032)
- Commercial Vehicle
- Passenger Cars
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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