Automotive Airbag Silicone - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Automotive Airbag Silicone market accounted for $203.50 million in 2019 and is expected to reach $846.28 million by 2027 growing at a CAGR of 19.5% during the forecast period. Growing demand for electric vehicles, advantages offered by silicone-coated airbags, and the increasing number of airbags per vehicle are some of the key driving factors for the market growth. However, the high cost of raw materials and the increasing development of active safety systems may hinder the market growth.
An airbag is a vehicle occupant-restraint system using a bag designed to inflate extremely quickly, and then quickly deflate during a collision. Automotive airbags contain silicone which offers various properties such as thermal resistance, slip, and protection. Airbags create heat and passengers in the car risk getting burnt, therefore applying a thin layer of silicone to the airbag will help protect the fabric from heat and prevent burn to passengers.
Based on the vehicle type, the passenger cars segment is going to have high growth during the forecast period as passive safety systems such as airbags are installed in passenger cars to reduce impact and save occupant lives during accidents. Owing to the benefits of airbags and the increasing number of road accidents, governments worldwide are increasingly encouraging the use of airbags to enhance safety in vehicles. By geography, Asia Pacific is going to have lucrative growth during the forecast period due to cost-effectiveness, regional airbag companies maximizing their presence to minimize supply chain costs, a high number of road accidents and related fatalities, increasing consumer concerns over safety and stringent rules and regulations to reduce road fatalities.
Some of the key players profiled in the Automotive Airbag Silicone include Dow, Ammeraal Beltech, Chukoh Chemical Industries, LTD, Elkem Silicones, Momentive, Shenzhen Square Silicone Co., Ltd, Shin-Etsu Chemical Co., Ltd, Silicone Engineering Ltd, Wacker Asahikasei Silicone Co., Ltd, Wacker Chemie AG, Zodiac Automotive, Robert Bosch GmbH, Hyundai Mobis, Joyson Safety Systems, TORAY Industries, Toyobo Co., Ltd, Autoliv Inc, Milliken & Company, Denso Corporation, Mitsubishi Electric Corporation and Continental AG.
Airbag Types Covered:
• Cut-and-Sewn Seam-Sealed (CSSS)
• One-Piece-Woven (OPW)
Airbag Positions Covered:
Vehicle Types Covered:
• Commercial Vehicles
• Passenger Cars
Electrical Vehicles Covered:
• Battery Electric Vehicle (BEVs)
• Plug-in Hybrid Electric Vehicle (PHEVs)/Fuel Cell Electric Vehicle (FCEVs)
Level of Autonomy Covered:
• Level 4
• Level 5
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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