Pune, India, July 30, 2019 (GLOBE NEWSWIRE) -- Overview:
Automotive Silicone’s popularity in automotive manufacturing relies mostly on its ability to increase efficiency of the vehicle, such as strength, resistance, and durability. Also, its resistive power against abrasion, chemicals, and ultraviolet radiation make silicon the choicest preference for the automotive sector. The Global Automotive Silicone Market is expected to record substantial CAGR during the forecast period of 2017 to 2023. Market Research Future (MRFR) claimed that the Automotive Silicone Market would find high prospects in the APAC region.
Automotive Silicone is lightweight and durable, strong supportive features that help in reducing carbon emission of the car. This is an important aspect that most automakers try to cover. Hence, silicone’s integration in the market is becoming easier. Also, the growing disposable income is spurring the sale of cars. Demands for high-end cars are rising as well. Such strong growth in the automotive sector is bound to inspire Automotive Silicone Market Growth. Its use in manufacturing windshield lining, ignition sets, cables, airbag cushion coatings, and radiator seals, along with its ability to provide load bearing, protective shock absorption, and vibration suppression ensures comfortable ride. Such features also help in easy integration of silicon in automotive.
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Competitive Landscape:
Various companies are showing keen interest in the profitability of the Global Automotive Silicone Market. These companies are employing several strategic moves that include merger, coalition, acquisition, product launch, innovation, and others. MRFR profiled these companies to get a sense of market trends. These companies are Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Elkem Silicone (U.S.), Momentive (U.S.), Rogers Corporation (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), Bostik (U.S.), Evonik Industries AG (Germany), Nusil (U.S.), ACC Silicones Ltd (U.K), KCC Corporation (South Korea), CSL Silicone Inc. (Canada), and Kaneka Corporation (Japan).
In July 2019, Wacker announced that the new liquid and solid silicone rubber grades are market ready, along with the launching of the new ACEO Imagine Series K2 3D silicone printer. These new products would include ELASTOSIL LR 3675 for automotive applications.
Segmentation:
The Global Automotive Silicone Market, in the MRFR report, has been segmented by Product and Application. This analysis provides a closer look of the market that would help in the assessment of different aspects. In this type of study value-wise and volume-wise data and figures are expected to help.
Browse the market data and information spread across 100 pages with 35 data tables and 10 figures of the report “Automotive Silicone Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/automotive-silicone-market-5828
Based on the Product, the Global Automotive Silicone Market can be segmented into elastomers, adhesives & sealants, resins, and others. The adhesive & sealants segments is gaining fast traction as their impact in weight reduction of automotive and controlling of fuel expenses is immense.
Based on the Application, the Global Automotive Silicone Market includes interior & exterior, electrical system, suspension system, engine & drive train system, and others. Automotive silicone’s impact on the interior and exterior designing is remarkable as it is important in maintaining automotive-makers promise of adhering the environmental regulations.
Regional Analysis:
Asia Pacific (APAC), Europe, North America, Latin America, and the Middle East & Africa (MEA) are five distinct regions in which the Global Automotive Silicone Market has been segmented. MRFR, in this region-specific analysis of the Global Automotive Silicone Market, made an attempt to uncover growth pockets to provide companies with chances of exploring possibilities.
The APAC market is helming the Global Automotive Silicone Market as the region is witnessing a substantial rise in the production and sales of these automotive. This is because several market titans have realized the growth potential of the regional market. Cost-effective labor and easy access to raw materials are major features triggering the execution of expansion plans. Growing automotive industry in Japan, India, and China have transformed the regional market. Government policies to curb carbon emission is playing a huge role in furthering the regional market value.
North America’s Regional Automotive Market is getting revamped, which is showing immense capacity to extend the market reach of Automotive Silicones. Several automotive giants operate from this region and this is bound to improve the regional market dynamics.
As an automotive industry hub, Europe is bound to impact the global market growth. The regional production of high-end cars and expenditure capacity complement each other, which is inspiring Automotive Silicone Growth. The U.K. and Germany are making strong moves.
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