Evolve Business Intelligence has published a research report on the Global Automotive Airbag Silicone Market, 2023–2033. The global Automotive Airbag Silicone Market is projected to exhibit a CAGR of around 8.35% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Automotive Airbag Silicone Market: Elkem Silicones, Dow, Shin-Etsu Chemical Co. Ltd., Wacker Chemie AG, TOYOBO CO., Autoliv Inc, Joyson Safety Systems, Milliken & Company, DENSO CORPORATION and Momentive.
Market Highlights
The Global Automotive Airbag Silicone Market is projected to be valued at USD 5.65 Billion by 2033, recording a CAGR of around 8.35% during the forecast period. The Automotive Airbag Silicone Market refers to the sector involved in the production and supply of silicone materials used in automotive airbags. Silicone is employed in airbag systems due to its properties such as heat resistance, durability, and flexibility, which are crucial for the effective deployment and functioning of airbags in vehicles.
The Automotive Airbag Silicone Market is influenced by trends in vehicle safety technology and innovations in silicone materials. The automotive airbag silicone market is a crucial component of the broader automotive safety industry, contributing to the development of life-saving technologies.
The COVID-19 pandemic had several impacts on the Automotive Airbag Silicone Market. The pandemic led to significant disruptions in global supply chains, affecting the production and distribution of automotive airbag silicone materials. Lockdowns and restrictions impacted manufacturing facilities and logistics, leading to delays and increased costs. Automotive production was severely affected by the pandemic, with many car manufacturers temporarily halting or reducing production. This, in turn, decreased the demand for airbag systems and, consequently, for silicone materials used in these systems. During the pandemic, automotive manufacturers and suppliers might have shifted focus to essential components or repurposed facilities to support COVID-19 response efforts, impacting the production of non-essential components like airbag systems. The pandemic accelerated certain trends, such as the adoption of advanced materials and technologies. The focus on enhancing vehicle safety and integrating new technologies could drive innovation in automotive airbag systems and the silicone materials used in them.
Segmental Analysis
The global Automotive Airbag Silicone Market has been segmented based on Airbag Position, Airbag Type, Vehicle Type and Electric Vehicle.
Based on Airbag Position, the Automotive Airbag Silicone Market is segmented into Front, Knee, Curtain and Others. The Curtain segment is anticipated to dominate the market.
Based on Airbag Type, the global Automotive Airbag Silicone Market has been divided into Cut-And-Sewn Seam-Sealed (CSSS), One-Piece-Woven (OPW) and Others. The One-Piece-Woven (OPW) segment is anticipated to dominate the market.
Based on Vehicle Type, the global Automotive Airbag Silicone Market has been divided into Passenger cars, LCVs, HCVs and Others. The Passenger cars segment is anticipated to dominate the market.
Based on Electric Vehicle, the global Automotive Airbag Silicone Market has been divided into BEVs, PHEVs/FCEVs and Others. The PHEVs segment is anticipated to dominate the market.
More Information: https://evolvebi.com/report/automotive-airbag-silicone-market-analysis/
Regional Analysis
The Automotive Airbag Silicone Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America, particularly the United States, is a mature market with stringent safety regulations and high vehicle production standards. The emphasis on advanced safety features and innovation drives demand for high-quality silicone materials. Additionally, the presence of major automotive OEMs and suppliers offers growth prospects also have high production costs and regulatory compliance requirements can be challenges. Europe has a strong automotive industry with a focus on safety, innovation, and environmental regulations. The market is characterized by high standards for vehicle safety and stringent regulatory frameworks. The push for advanced airbag technologies and eco-friendly materials creates opportunities for silicone manufacturers. The rise of electric and autonomous vehicles also drives demand. Asia-Pacific region is the largest and fastest-growing automotive market, driven by countries like China, India, and Japan. Rapid industrialization, increasing vehicle production, and rising disposable incomes contribute to growth. High growth potential due to expanding vehicle production and increasing safety standards. Emerging markets in Asia-Pacific present significant opportunities for silicone suppliers. Latin America is growing automotive industry with increasing vehicle production and a rising middle class. However, the market is still developing compared to North America and Europe. Growth in vehicle sales and safety regulations create opportunities for airbag silicone manufacturers. Expanding automotive infrastructure and rising consumer demand are key drivers. The automotive market in Middle east and Africa region is growing, with increasing vehicle ownership and infrastructure development. However, it is less mature compared to other regions. The expansion of automotive markets and rising demand for safety features offer growth opportunities. Increasing investments in automotive manufacturing and infrastructure development are key drivers.