Rapid Growth of Automotive Industry in Asia Pacific to Dominate the Automotive Silicone Sealant Market

Transparency Market Research (TMR) provides key insights on the automotive silicone sealant market in its latest report titled “Automotive Silicone Sealant Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, rapid growth of the automotive industry in Asia Pacific is predicted to dominate the automotive silicone sealant market during the forecast period.

The global automotive silicone sealant market is segmented into component, product, technology, modulus, curing, and region. In terms of modulus, the automotive silicone sealant market is bifurcated into high modulus silicon sealants and low modulus silicon sealants. Based on curing, the automotive silicone sealant market is segmented into acetoxy, oxime, alkoxy, and others. The acetoxy curing segment dominates the automotive silicone sealant market due to rise in its usage in glass insulation.

In terms of regional perspective, the global automotive silicone sealant market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific dominates the automotive silicone sealant market due to significant expansion of the automotive industry in the region. China holds a large share of the automotive silicone sealant market in Asia Pacific in terms of consumption. Emerging economies in Asia Pacific such as Thailand, India, and Vietnam are likely to create lucrative opportunities for automotive silicone sealant manufacturers in the near future, due to the rise in production of automobiles and rapid industrialization.

North America and Europe are mature regions. Increase in demand for silicone sealants for extreme temperature conditions by OEMs is expected to drive demand for automotive silicone sealant in North America and Europe. The automotive silicone sealant market in countries in Latin America such as Mexico and in Middle East & Africa such as GCC Countries and South Africa is anticipated to expand significantly due to surge in production capacity expansions by various automakers in these regions.

Major players operating in the automotive silicone sealant market are included in this report to give a better competitive analysis and these are Wacker Chemie AG Dow Corning Corporation, Momentive Performance Materials, Shin-Etsu Chemical Co., Ltd, and ACC Silicone Europe.

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