New York, April 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Airbags Silicone Global Market Report 2023" - https://www.reportlinker.com/p06280929/?utm_source=GNW
Major players in the automotive airbag silicone market are Dow, Elkem Silicones, Shin-Etsu Chemical, Wacker Chemie AG, TORAY Industries, Toyobo, Zodiac, and Porcher Industries.
The global automotive airbag silicone market grew from $318.75 billion in 2022 to $374.53 billion in 2023 at a compound annual growth rate (CAGR) of 17.50%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive airbag silicone market is expected to grow to $724.06 billion in 2027 at a CAGR of 17.92%.
The automotive airbags silicone market consists of sales ofinflatable seat belts.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Automotive airbags silicone offers thermal resistance, slip, and protection in case of crash. The 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. \
The Asia-Pacific was the largest region in the automotive airbag silicone market in 2022. The regions covered in the automotive airbag silicone market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The automotive airbag silicone market covered in the report is segmented by airbag type into cut-and-sewn seam-sealed (CSSS), one-piece-woven (OPW); by airbag position into the front, knee, curtain/side, and others; by vehicle type into passenger cars, LCV, HCV.
Airbags are made mandatory in front seats for vehicles and this factor is expected to drive the automotive airbag silicone market during the forecast period.Airbags are complex devices that work with a vehicle’s metal body and seatbelts to protect occupants and therefore it is made mandatory for vehicles to have airbags at least in front seats as occupants and driver seating in the first seats are at high risk of injury when there is any collision or accident.
For instance, in India, vehicles manufactured on and after the 1st Day of April 2021, in the case of new models, and the 1st day of June 2021, in the case of existing models, shall be fitted with airbags for the person occupying the front seat, other than the driver. Thus, making airbags compulsory for front seats in vehicles is driving the market.
The increasing development of active safety systems is expected to limit the growth of the automotive airbag silicone market.The active safety system in a car works to prevent an accident.
These systems are always active while the car is in driving mode and works continuously to keep the occupants safe from getting into an accident.The active safety systems include automatic emergency braking (AEB), forward collision warning (FCW), active cruise control (ACC), lane departure warning (LDW), lane-keeping assist (LKA), blind-spot monitoring, and rear cross-traffic alert (RCTA).
According to Consumer Reports, in 2022, more than 47,000 Cr car owners were surveyed. 72% of the respondents were satisfied with Rear Cross Traffic Warning (RCTW), 64% were satisfied with Blind Spot Warning (BSW), 63% were satisfied with the Adaptive Cruise Control (ACC), and 59% were satisfied with the Automatic Emergency Braking (AEB). The increasing development of active safety systems has a negative impact on the automotive airbag silicone market.
Innovative airbag design with silicone rubber fabric coatings and seam sealants is an emerging trend in the automotive airbag silicone market.Silicone rubber fabric coatings and seam sealants help airbag design integrity to enhance occupant impact protection and safety.
For instance, Dow’s SILASTIC™ silicone engineered elastomers are proven, effective solutions for advanced airbag design.This innovative product meets industry and regulatory requirements for use on cut-and-sewn, seam-sealed (CSSS) airbags and one-piece-woven (OPW) airbags.
It can be included in side curtain airbags, front-centre airbags, knee-bolster airbags, frontal airbags (driver and passenger) and side airbags.
The countries covered in the automotive airbag silicone market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive airbag silicone market research report is one of a series of new reports that provides automotive airbag silicone market statistics, including automotive airbag silicone industry global market size, regional shares, competitors with a automotive airbag silicone market share, detailed automotive airbag silicone market segments, market trends and opportunities, and any further data you may need to thrive in the automotive airbag silicone industry. This automotive airbag silicone market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06280929/?utm_source=GNW
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