The Latest Automotive Silicone Industry Statistics Explained
In 2020, the global automotive silicon market size was valued at USD 3.5 billion.
In 2020, the global automotive silicon market size refers to the total monetary value of silicon used in the automotive industry, which was estimated to be USD 3.5 billion. This statistic indicates the significant economic importance of silicon in the automotive sector, highlighting its widespread usage in various components such as sensors, microcontrollers, power electronics, and other electronic systems within vehicles. The market size value of USD 3.5 billion suggests a considerable demand for automotive silicon due to technological advancements, safety regulations, and the increasing integration of electronic systems in modern vehicles. This information provides insight into the scale of the automotive silicon industry and its role in shaping the future of automotive technology.
The global automotive silicon market is expected to grow at a CAGR of 6.77% from 2021 to 2026.
The statistic indicates that the global automotive silicon market is projected to witness a Compound Annual Growth Rate (CAGR) of 6.77% from the year 2021 to 2026. This growth rate signifies the pace at which the market is estimated to expand annually over the specified time period. A CAGR of 6.77% suggests a steady and relatively robust growth trajectory for the automotive silicon market, implying increasing demand and adoption of silicon-based technologies and components in the automotive industry. This statistic highlights a positive outlook for the automotive silicon market, pointing towards potential opportunities and trends that may drive growth and development in the sector over the coming years.
Asian-Pacific holds the largest market share at 42% in the automotive silicone industry.
The statistic indicates that the Asian-Pacific region dominates the automotive silicone industry with a market share of 42%, making it the largest player in the market. This suggests that a significant portion of the automotive silicone products, used in various applications such as sealing, lubrication, and insulation in vehicles, is manufactured and consumed in the Asian-Pacific region. This market dominance may be attributed to factors such as a large automotive manufacturing presence, technological advancements, competitive pricing, and increasing demand for automotive silicone products in the region. The statistic highlights the importance of the Asian-Pacific market in the automotive silicone industry and signifies its leading role in driving growth and innovation within the sector.
The demand for silicone adhesives is projected to grow at a CAGR of 7.8% between 2019 to 2025.
This statistic indicates that the demand for silicone adhesives is expected to increase steadily at a Compound Annual Growth Rate (CAGR) of 7.8% from 2019 to 2025. A CAGR provides a smoothed annual growth rate over a specified period, in this case, reflecting the average year-over-year increase in demand for silicone adhesives. The projection suggests a positive trend in the market for silicone adhesives, indicating that the industry is anticipated to experience consistent growth over the next six years. This growth rate can be useful for businesses in the silicone adhesive industry to make informed decisions regarding production capacity, market positioning, and investment opportunities to capitalize on the expected increase in demand.
North America accounts for around 25% market share in the automotive silicone market.
The statistic “North America accounts for around 25% market share in the automotive silicone market” suggests that of the total market for automotive silicone products globally, North America holds a significant portion, specifically about a quarter. This data indicates that North America, including countries like the United States, Canada, and Mexico, is a key player in the automotive silicone industry, with a notable influence on market dynamics and trends. This market share figure highlights the regional importance of North America in the automotive silicone market and underscores the region’s potential impact on industry developments, innovation, and growth within this sector.
Demand for silicone in the global automotive silicon market from internal automotive parts accounted for more than 30% in 2019.
This statistic suggests that the demand for silicone within the global automotive silicon market, specifically for internal automotive parts, was significant in 2019, constituting more than 30% of the overall demand. Silicone is a versatile material known for its high heat resistance, durability, and flexibility, making it a popular choice for various automotive components such as seals, gaskets, hoses, and wiring harnesses. The high demand for silicone in internal automotive parts indicates the importance of this material in the automotive industry due to its ability to enhance performance and longevity of vehicles.
The market for silicone for exterior applications in cars is expected to grow at a CAGR of 6% from 2021 to 2026.
This statistic indicates that the market demand for silicone used in exterior applications for cars is projected to experience a Compound Annual Growth Rate (CAGR) of 6% over the period of 2021 to 2026. This suggests a steady anticipated increase in the consumption of silicone-based products in exterior automotive applications, likely driven by factors such as advancements in automotive technology, increasing focus on enhancing vehicle performance and durability, as well as growing demand for more sustainable and environmentally friendly materials in the automotive industry. The expected growth rate of 6% indicates a positive outlook for the silicone market in the automotive sector, presenting potential opportunities for manufacturers, suppliers, and other industry stakeholders to capitalize on this anticipated growth trend.
The use of silicone in gaskets & seals is expected to increase at a CAGR of 6.3% from 2021 to 2028.
This statistic indicates that there is a projected annual growth rate for the utilization of silicone in gaskets and seals of 6.3% over the period from 2021 to 2028. A Compound Annual Growth Rate (CAGR) of 6.3% implies that the demand for silicone in this specific application is anticipated to steadily rise at a consistent pace over the specified time frame. This forecast suggests that there is increasing recognition and adoption of silicone as a preferred material for gaskets and seals, likely due to its favorable properties such as temperature resistance, flexibility, and durability. Businesses operating in this sector may leverage this information to make informed decisions regarding product development, marketing strategies, and investment opportunities.
Silicon adhesives hold a significant share of 34% in the automotive silicone market.
The statistic stating that silicon adhesives constitute a significant share of 34% in the automotive silicone market suggests that silicon adhesives are a dominant product segment within the automotive industry. This high market share implies that silicon adhesives are widely used in the production and assembly of automotive components such as bonding panels, sealing gaskets, and attaching trim pieces. The popularity of silicon adhesives in the automotive sector could be attributed to their strong bonding properties, resistance to extreme temperatures and weather conditions, and their ability to provide effective sealing against moisture and other environmental factors. Overall, this statistic underscores the importance and widespread adoption of silicon adhesives in the automotive industry.
The Indian automotive silicone market is expected to grow at 8.9% CAGR from 2021 to 2026.
This statistic indicates that the Indian automotive silicone market is projected to expand at a Compound Annual Growth Rate (CAGR) of 8.9% over the period from 2021 to 2026. A CAGR of 8.9% suggests the market is expected to consistently increase in size on an annual basis at a steady rate over the specified time frame. This growth rate signifies a positive outlook for the Indian automotive silicone market, implying increased demand for silicone-based products within the automotive industry in India. Factors driving this growth may include technological advancements, expanding applications of silicones in automotive manufacturing, and overall economic growth within the region.
China is the largest market for silicone in Asia Pacific, with a share of 35% in 2018.
The statistic highlights China’s dominance in the silicone market within the Asia Pacific region in 2018, capturing a substantial share of 35%. This indicates that China is a significant player in the industry, both in terms of production and consumption of silicone materials. The large market share suggests that China’s economy and industries heavily rely on silicone for a variety of applications such as electronics, automotive, construction, and healthcare. The statistic also implies that Chinese businesses and consumers have a high demand for silicone products, reflecting the country’s strong presence and influence in the regional silicone market.
Germany held around 15% of the European automotive silicone market in 2018.
The statistic indicates that Germany had a substantial presence in the European automotive silicone market in 2018, holding approximately 15% of the market share. This suggests that Germany was a significant player in the industry compared to other countries in Europe. The fact that Germany held such a sizable portion of the market highlights the country’s strong position in manufacturing and supplying automotive silicone products within Europe. This statistic may reflect Germany’s advanced technology, innovation, and high-quality manufacturing processes in the automotive industry, contributing to its significant market share in the region.
Brazil and Mexico together accounted for a 30% share of the Latin American market in 2020.
This statistic indicates that in 2020, the combined market share of Brazil and Mexico in the Latin American region amounted to 30%. This suggests that Brazil and Mexico are significant players in the Latin American market, collectively representing nearly a third of the total market activity. This could imply that these countries are key drivers of economic activity and trade within the region, with their market performance having a notable impact on the overall landscape of Latin American markets. Additionally, it may highlight the importance of these two countries in terms of market potential, investment opportunities, and contributing to regional economic growth.
The Middle East and Africa region is expected to exhibit a CAGR of 4.3% till 2026.
The statistic indicates that the Middle East and Africa region is projected to experience a Compound Annual Growth Rate (CAGR) of 4.3% until the year 2026. This means that the economy of this region is expected to grow at an average annual rate of 4.3% over the specified period. The CAGR is a measure used to understand the annual growth rate over multiple periods and is a useful tool for forecasting and comparing the growth of different regions or industries. The forecasted growth rate suggests that the Middle East and Africa region is expected to see steady economic expansion in the coming years.
The Elastomers application segment for automotive silicone will be worth over USD 1 Billion by 2024.
This statistic indicates that the Elastomers application segment within the automotive silicone industry is projected to exceed a market value of USD 1 billion by the year 2024. This suggests a robust growth and demand for silicone-based elastomers in the automotive sector due to their desirable properties such as flexibility, durability, and heat resistance. The substantial market value forecast indicates that automotive manufacturers are increasingly incorporating silicone elastomers in various components such as gaskets, seals, hoses, and insulation to enhance performance, efficiency, and longevity of vehicles. This anticipated growth reflects the expanding applications and benefits of silicone elastomers in the automotive industry, highlighting a significant market opportunity and potential for further innovation and development in this sector.
By 2027, the HVAC application segment is expected to reach $92.2 million.
The statistic “By 2027, the HVAC application segment is expected to reach $92.2 million” indicates that the HVAC industry, specifically in terms of application segments, is projected to grow significantly by 2027, with an estimated market value of $92.2 million. This implies a rising demand for Heating, Ventilation, and Air Conditioning (HVAC) systems across various sectors such as residential, commercial, and industrial. Factors driving this growth could include increasing construction activities, advancements in technology leading to more energy-efficient HVAC systems, and a growing awareness of the importance of indoor air quality. The forecasted figure highlights the potential opportunities for businesses operating in the HVAC industry to capitalize on this growing market segment in the coming years.
Electrical applications are projected to grow at a Compound Annual Growth Rate (CAGR) of over 8% to 2026.
The statistic indicates that the electric applications industry is forecasted to experience significant growth over the next few years, with a projected Compound Annual Growth Rate (CAGR) of over 8% until 2026. This suggests that the demand for electric applications, such as electrical components, systems, and devices, is expected to increase steadily at an average annual rate of over 8%. This growth rate reflects a positive outlook for the industry, driven by factors such as technological advancements, increasing adoption of electric vehicles, renewable energy integration, and advancements in smart grid technology. Overall, the projection of a CAGR of over 8% implies a promising future for the electrical applications sector with opportunities for expansion and innovation.
The automotive silicone market in Japan was valued at over USD 300 Million in 2017.
The statistic ‘The automotive silicone market in Japan was valued at over USD 300 million in 2017’ indicates the total worth of the market for silicone products specifically used in the automotive industry in Japan during the year 2017. This value represents the amount of revenue generated from the sales of automotive silicone products in the Japanese market and suggests that there is a significant demand for these products in the automotive sector within the country. This statistic serves as a key indicator of the market size and economic activity related to automotive silicone in Japan, providing insights into the industry’s growth and significance in the region during that year.
Conclusion
Based on the statistics presented regarding the Automotive Silicone Industry, it is evident that the utilization of silicones in automotive applications is on the rise, with a clear trend towards increased demand and adoption. This growth can be attributed to the various benefits that silicone materials offer, including durability, heat resistance, and flexibility. The data highlights the significant role that silicones play in enhancing the performance and functionality of vehicles, making them an essential component in the automotive sector.
References
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