Automotive Airbag Silicone Market Analysis and Global Forecast 2023-2033

Automotive Airbag Silicone Market Overview

The Automotive Airbag Silicone Market Size is expected to reach USD 5.65 Billion by 2033. The Automotive Airbag Silicone Market industry size accounted for USD 0.23 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 8.35% from 2023 to 2033. 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.

Global Automotive Airbag Silicone Market Synopsis

COVID-19 Impact Analysis

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.

Automotive Airbag Silicone Market Dynamics

The major factors that have impacted the growth of Automotive Airbag Silicone Market are as follows:

Drivers:

Ø  Technological Advancements

Innovations in airbag technology, such as the development of advanced airbag systems (e.g., side airbags, curtain airbags), are fueling the need for specialized silicone materials that offer enhanced performance, durability, and reliability. Increasing consumer awareness and focus on vehicle safety features contribute to the demand for advanced airbag systems. Automakers are investing in better airbag technologies, which drives the demand for high-performance silicone materials. The trend towards equipping vehicles with a wide range of advanced safety features, including multiple airbags, contributes to the growing demand for silicone materials used in airbag systems.

Restraint:

• Perception of High Production Costs and Volatile Raw Material Prices

The cost of producing high-quality silicone materials for automotive airbags can be significant. This includes costs associated with raw materials, manufacturing processes, and quality control. High production costs can impact the overall profitability and affordability of airbag systems. The prices of raw materials used in silicone production, such as silicon and other chemical components, can be volatile. Fluctuations in raw material prices can affect the cost of silicone materials and influence market dynamics.

Opportunity:

⮚     Advancements in Airbag Technology

Ongoing advancements in airbag systems, including the development of new types of airbags (e.g., inflatable seat belts, knee airbags), create opportunities for specialized silicone materials that enhance performance and safety. Growing consumer demand for enhanced vehicle safety features provides opportunities for manufacturers to develop and supply high-performance silicone materials for advanced airbag systems. There is a growing emphasis on sustainability and reducing the environmental impact of automotive components. Developing eco-friendly and recyclable silicone materials for airbag systems can cater to this trend and provide a competitive edge.

Automotive Airbag Silicone Market Segment Overview

By Airbag Position

Based on Airbag Position, the market is segmented based on Front, Knee, Curtain and Others. The curtain segment dominant the market. Due to rising usage of airbags to protect chest of adults from side-impact collisions. Rising consumer awareness and demand for advanced safety features in vehicles drive the adoption of curtain airbags, thereby increasing the demand for silicone materials used in these airbags.

By Airbag Type

Based on Airbag Type, the market segment has been divided into Cut-And-Sewn Seam-Sealed (CSSS), One-Piece-Woven (OPW) and Others. One-piece-woven segment dominant the market. Increasing emphasis on diminishing accidental death rate is expected to boost growth of this segment. OPW airbags offer superior strength and durability compared to traditionally stitched airbags, leading to increased safety for vehicle occupants.

By Vehicle Type

Based on Vehicle Type, the market segment has been divided into Passenger cars, LCVs, HCVs and Others. Increasing airbag installation in passenger cars to mitigate impact and save passengers’ lives in collisions is expected to drive growth of the passenger cars segment, which is expected to lead in terms of revenue contribution to the global automotive airbag silicone market.

By Electric Vehicle

Based on Electric Vehicle, the market segment has been divided into BEVs, PHEVs/FCEVs and Others. The PHEVs segment dominant the market. The growing popularity of PHEVs due to their environmental benefits and fuel efficiency drives the demand for specialized airbag systems designed to fit these vehicles. There is an opportunity to develop innovative airbag solutions that address the unique design considerations of PHEVs while utilizing advanced silicone materials.

Global Automotive Airbag Silicone Market Regional Analysis

Based on region, the global Automotive Airbag Silicone Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Automotive Airbag Silicone Market followed by the Asia-Pacific and Europe regions.

Automotive Airbag Silicone North America Market

North America holds a dominant position in the Automotive Airbag Silicone Market. 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.

Automotive Airbag Silicone Asia-Pacific Market

The Asia-Pacific region has indeed emerged as the fastest-growing market for the Automotive Airbag Silicone Market industry. It’s 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.

Competitive Landscape

The global Automotive Airbag Silicone Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.

Prominent Players:

• Elkem Silicones
• Dow
• Shin-Etsu Chemical Co. Ltd.
• Wacker Chemie AG
• TOYOBO CO.
• Autoliv Inc
• Joyson Safety Systems
• Milliken & Company
• DENSO CORPORATION
• Momentive

Key Development

In January 2022– Continental AG and Volterio are collaborating to develop fully automated charging robots for electric vehicles.

In February 2022– The Mitsubishi Electric Corporation has been granted a contract to provide communications-based train control (CBTC) wayside technology to handle train traffic on the Queens Boulevard Line’s east end (QBL).

Scope of the Report

Global Automotive Airbag Silicone Market, by Airbag Position

• Front
• Knee
• Curtain
• Others

Global Automotive Airbag Silicone Market, by Airbag Type

• Cut-And-Sewn Seam-Sealed (CSSS)
• One-Piece-Woven (OPW)
• Others

Global Automotive Airbag Silicone Market, by Vehicle Type

• Passenger cars
• LCVs
• HCVs
• Others

Global Automotive Airbag Silicone Market, by Electric Vehicle

• BEVs
• PHEVs/FCEVs
• Others

Global Automotive Airbag Silicone Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Benelux
  • Nordic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Indonesia
  • Austalia
  • Malaysia
  • India
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of Middle East & Africa

 

Parameters	Indicators
Market Size	2033: USD 5.65 Billion
CAGR (2023-2033)	8.35%
Base year	2022
Forecast Period	2023-2033
Historical Data	2021 (2017 to 2020 On Demand)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations	Airbag Position, Airbag Type, Vehicle Type, Electric Vehicle
Geographies Covered	North America, Europe, Asia-Pacific, South America, Middle East, Africa
Key Vendors	Elkem Silicones, Dow, Shin-Etsu Chemical Co. Ltd., Wacker Chemie AG, TOYOBO CO., Autoliv Inc, Joyson Safety Systems, Milliken & Company, DENSO CORPORATION and Momentive.
Key Market Opportunities	·       Advancements in Airbag Technology ·       Sustainability and Eco-Friendly Solutions
Key Market Drivers	·       Technological Advancements ·       Growing Focus on Vehicle Safety

 

REPORT CONTENT BRIEF:

• High-level analysis of the current and future Automotive Airbag Silicone Market trends and opportunities
• Detailed analysis of current market drivers, restraining factors, and opportunities in the future
• Automotive Airbag Silicone Market historical market size for the year 2021, and forecast from 2023 to 2033
• Automotive Airbag Silicone Market share analysis at each product level
• Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
• Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
• To identify and understand the various factors involved in the global Automotive Airbag Silicone Market affected by the pandemic
• To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.