Silicone In Car Care Products Market

Silicone In Car Care Products Market Size Survey Report – In a Glance

As per the survey report on global Silicone In Car Care Products Market, the market is projected to foresee a CAGR of 5.6% between 2024-2033, and further generate a market size of USD 455.2 million revenue by the end of 2033. In the year 2024, the market size was valued at USD 260.8 million revenue.

• The global Silicone in Car Care Products Market is projected to grow on account of rising demand for fuel efficient vehicles.
• In Japan, the stringent environmental regulation can be attributed to the growth in the Silicone in Car Care Products Market.
• KDMI analyst’s growth analysis foresees limited availability of raw materials to challenge the market growth.
• Asia Pacific, having the highest market share in the Silicone In Car Care Products Market, is projected to dominate the global market.

Silicone In Car Care Products Market Analysis

Silicone In Car Care Products are suitable materials for adapting surfaces with regards to: enhancing surface finish and turning it to glossy from matte, colour depth and safeguarding against environmental impact. Silicon has a low density and is suitable for minimizing vehicle weight and improving fuel efficiency. The increasing demand for fuel-efficient vehicles is one of the significant growth drivers of silicone in car care products market. With the improvement of technology, the demand for fuel-efficient vehicles has risen too, and fuel economy is expected to be an essential factor for 88% of the respondents in their subsequent vehicle acquisition. According to a survey conducted in 2021 from consumer reports indicate that 89% of Americans want automakers to concentrate on enhancing fuel economy. 3M, CHT Group Ltd, and Evonik Industries AG are significant players in the global Silicone Car Care Products market.

Analyst’s Observation on Japan Silicone In Car Care Products Market Survey

The use of silicone materials in cars is an ideal way to reduce emissions through improvement in engine efficiency and minimizing friction in automotive constituents. Further, the long lifespan of silicone enables it to stay in the ambience for long without breaking down, so it does not contribute much to increasing landfill waste. The strict environmental regulations in Japan bode well for the growth of silicone in car care products market size. In 10 years, 30 million tons of industrial waste and approximately 6 million tons of municipal waste have been reduced with the help of stringent environmental regulations. The rate of waste reduction in 2019 rose to 99%, and the landfill waste amount reduced by 1.1% since 2018. Shin-Etsu Chemical Co., Ltd. is a significant player in the Japanese Silicone Car Care Products market.

Silicone In Car Care Products Market Growth Driver & Market Restraint

Growth Driver

Increasing application of silicone in EVs:

Silicone is widely used in electric vehicles because it is more efficient for heat dissipation, increases thermal conductivity, enables efficient bonding and sealing and is even helpful in electrical insulation. The increasing application of silicone in electric vehicles predicts the growth of silicone in the car care products market. Within the articulation of electric vehicles, silicones are offering manufacturing and engineering solutions for application in inverters, electric motors, charging units, battery packs, connectors, wiring, sensors, control units & displays. The increasing electrical vehicle sales are pushing the market of silicone in car care products. As of 2022, the electric car sales globally reached 14 million, which denoted a 35% growth in 2022.

Market Restraint

Restricted availability of raw materials:

Fluctuations in the availability of raw materials, specially during geopolitical tensions or economic instability disturb the supply chain and result to increased price. The concentration of silicone raw material manufacturing in particular regions makes the market susceptible to the threats of supply chain and availability problems

Silicone In Car Care Products Market Segmentation

Our experts at KD Market Insights have segmented the global Silicone In Car Care Products Market research report as:

Silicone In Car Care Products Market Regional Synopsis

Asia Pacific is expected to dominate the silicone in car care products market because it is home to significant automotive markets such as China, India, South Korea and Japan. China's automotive sector has been growing rapidly, and the region has an immensely essential role in the worldwide automotive market. The countrywide automotive sales in China have broken the record of 28 million as of 2016, having a worldwide 1st rank for eight continuous years. The automotive sector of South Korea was 7th largest as of 2022 and is the 5th largest producer of passenger cars. Further, it is expected that by 2032, the Hyundai Motor Group, which owns Hyundai, Genesis and Kia will be the 3rd largest manufacturer by sales as of 2032. The Indian automotive sector has a vast growth perspective because of its resilience in response to large domestic markets and disturbances. Further, increasing research & development in regions like China is propelling the silicone in car care products market in the Asia Pacific region. The emphasis of the automotive sector in China has transitioned from technology launch and industry standardization to independent R&D, technology advancement of important parts and finally to significant technology advancement.

North America is the fastest-growing region due to increasing consumer preference for sustainable transportable solutions. In the United States region, transport registers for 28% of total green house release. Approximately, 42% is from freight shipments in the transport industry, particularly, motor freight or trucking contributes to 23% of the CHG emissions. 54% of the United States consumers are desirous of changing their holiday acquisition habits to minimize environmental degradation. Research by BCG indicated that a vast majority of shipping consumers are ready to pay a premium for carbon neutral shipping. Further, high demand for automobiles from the United States consumers is another reason for the silicone in car care products market. The passenger car market in the United States is anticipated to expand by 1.44% resulting in a market size of USD 595.9 million as of 2029. As of 2020, around 117,000 tons of silicones were used in the transport industry annually, and it includes marine, aviation, aerospace and automotive sector.

Silicone In Car Care Products Market Competitive Landscape

Some of the key players who top the global Silicone in Car Care Products Market share:

• 3M
• CHT GroupLTD
• Evonik Industries AG
• Dow
• Momentive Performance Materials Inc.
• Henkel AG & Co. KGaA
• Sonax GmbH
• Wacker Chemie AG
• Shin-Etsu Chemical Co.LTD.
• Armor All.

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Silicone In Car Care Products Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Product
      2. By Application
      3. By End-User
      4. By Region
5. Market Segmentation by Product
   1. Silicones
   2. Others
6. Market Segmentation by Application
   1. Paint Preservatives
   2. Polishes
   3. Spray Wax
   4. Leather and Vinyl Care
   5. Tire Care Products
   6. Plastic Care
   7. Others
7. Market Segmentation by End-User
   1. Food and Beverage Processing
   2. DIY
   3. Professional/Commercial
   4. Others
8. Regional Analysis
   1. North America
      1. United States
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User   
      2. Canada
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      3. Mexico
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
   2. Europe
      1. United Kingdom
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      2. Germany
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      3. France
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      4. Italy
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      5. Spain
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      6. Rest of Europe
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
   3. Asia Pacific
      1. China
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      2. Japan
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      3. India
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      4. Australia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      5. South Korea
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      6. Rest of Asia Pacific
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
   4. Latin America
      1. Brazil
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      2. Argentina
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      3. Colombia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      4. Rest of Latin America
         1. Market Size and Forecast
         2. Key Trends and Developments
         3.               Market Analysis by Product, Application and End-User    
   5. Middle East & Africa
      1. South Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      2. Saudi Arabia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      3. UAE
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
      4. Rest of Middle East & Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product, Application and End-User    
9. Competitive Landscape
   1. Market Share Analysis
   2. Company Profiles
      1. 3M
      2. CHT GroupLTD
      3. Evonik Industries AG
      4. Dow
      5. Momentive Performance Materials Inc.
      6. Henkel AG & Co. KGaA
      7. Sonax GmbH
      8. Wacker Chemie AG
      9. Shin-Etsu Chemical Co.LTD.
      10. Armor All.
      11. Others
10. Strategic Recommendations
11. Appendix
    1. List of Tables
    2. List of Figures
12. References