Automotive Airbags Silicone Global Market Report 2023
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LONDON, GREATER LONDON, UK, November 15, 2023 /EINPresswire.com/ — The global automotive airbag silicone market has witnessed robust growth, surging from $318.75 billion in 2022 to $374.53 billion in 2023, reflecting an impressive compound annual growth rate (CAGR) of 17.50%. Despite the short-term disruptions caused by the Russia-Ukraine conflict and ongoing challenges from the COVID-19 pandemic, the market is poised for continued expansion. Projections indicate that the market size for automotive airbag silicone will further increase to reach $724.06 billion by 2027, driven by a projected CAGR of 17.92%.
The versatility of the automotive airbag silicone market is evident through its comprehensive segmentation options:
• By Airbag Type: Cut-and-Sewn Seam-Sealed (CSSS), One-Piece-Woven (OPW)
• By Airbag Position: Front, Knee, Curtain/Side, Other Airbag Positions
• By Vehicle Type: Passenger Cars, LCV, HCV
Asia-Pacific Leads the Automotive Airbag Silicone Market
Explore comprehensive insights into the global automotive airbag silicone market with a detailed sample report:
Mandatory Inclusion of Airbags in Front Seats Fuels Market Growth
The automotive airbag silicone market is experiencing substantial growth, propelled by the mandatory inclusion of airbags, particularly in front seats. Governments worldwide are enforcing regulations to enhance occupant safety, making it compulsory for vehicles, especially in the case of new models, to be fitted with airbags for the person occupying the front seat. For instance, in India, vehicles manufactured on and after the 1st Day of April 2021 must be equipped with airbags for the person in the front seat, excluding the driver. This regulatory push towards increased airbag adoption, especially in front seats, is a significant driver of market growth.
Key Players Steering the Automotive Airbag Silicone Market
Leading the charge in the automotive airbag silicone market are key players such as Dow, Elkem Silicones, Shin-Etsu Chemical, Wacker Chemie AG, TORAY Industries, Toyobo, Zodiac, and Porcher Industries. These industry giants are actively contributing to the market’s dynamic evolution.
Impact of Active Safety Systems on Market Growth
While the market is thriving, the increasing development and adoption of active safety systems pose challenges to the automotive airbag silicone market. Active safety systems, designed to prevent accidents, including features like automatic emergency braking, forward collision warning, and lane-keeping assist, have become integral to modern vehicles. The effectiveness of these active safety systems has been positively received by consumers, impacting the perceived necessity of traditional passive safety measures such as airbags. This trend is anticipated to restrain the growth of the automotive airbag silicone market.
Innovative Airbag Design with Silicone Rubber Fabric Coatings
An emerging trend in the automotive airbag silicone market is the innovative design of airbags, incorporating silicone rubber fabric coatings and seam sealants. These elements contribute to enhancing occupant impact protection and safety. Dow’s SILASTIC™ silicone engineered elastomers, for instance, have proven effective for advanced airbag design, meeting industry and regulatory requirements for cut-and-sewn, seam-sealed (CSSS) airbags and one-piece-woven (OPW) airbags. These innovations cater to various airbag types, including side curtain airbags, front-center airbags, knee-bolster airbags, and frontal airbags.
Asia-Pacific took the lead in the automotive airbag silicone market in 2022 and is anticipated to maintain its prominent position. The global regions covered in the market analysis report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Access the complete report for a comprehensive analysis of the global automotive airbag silicone market:
Automotive Airbag Silicone Market Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Automotive Airbag Silicone Market Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on automotive airbag silicone market size, automotive airbag silicone market drivers and trends, major players, competitors’ revenues, market positioning, and market growth across geographies. The automotive airbag silicone market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Article originally published on www.einpresswire.com as Exploring the Dynamics of the Global Automotive Airbag Silicone Market