The Global Automotive Airbag Silicone Market size is projected to grow from $239 million in 2020 to $534 million by 2025, at a 17.5% CAGR.
The excellent heat resistance, high fabric strength, and improved lifespan offered by silicone coating are expected to boost its demand over the forecast period. Stringent government regulations pertaining to vehicle safety are further anticipated to fuel the demand for automotive airbag silicone during the forecast period.
Dow (US), Elkem Silicones (France), Shin-Etsu Chemical Co., Ltd. (Japan), Wacker Chemie AG (Germany), and Momentive (US) are the major companies operating in the global automotive airbag silicone market.
Increasing safety regulations, awareness, and the demand for advanced safety features drive airbags in commercial vehicles. Airbag manufacturers and OEMs are increasingly carrying out extensive R&D activities to develop and launch frontal and curtain/side airbags for light and heavy commercial vehicles. For example, commercial vehicle manufacturer Scania unveiled the world’s first rollover side curtain airbag for trucks in 2016. Maruti Suzuki updated its light commercial vehicle Eeco with ABS & EBD, airbags, reverse parking sensors, driver and co-driver seatbelt reminders, and a speed alert system in 2019. Thus, safety regulations, coupled with the increasing demand for safety features in commercial vehicles and ongoing product developments and launches, are expected to offer promising growth opportunities for players in the automotive airbag silicone market during the forecast period.
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The passenger car segment is expected to dominate the automotive airbag silicone market by vehicle type. The high demand for passenger cars is credited to factors such as the rise in the global GDP and population, improving lifestyles, the increased purchasing power of consumers, and infrastructural developments across the globe.
Passive safety systems such as airbags are installed in passenger cars to reduce impact and save occupant lives during accidents. Due to the benefits of airbags and the increasing number of road accidents, governments across the globe are increasingly encouraging the use of airbags to enhance safety in vehicles. This growth in passenger car airbag demand has driven the requirement for automotive airbag silicone from the passenger car segment over the years. Moreover, with recent mandates in developing countries for airbags and expected mandates from countries including China and the US for curtain/side airbags, airbags’ penetration is expected to reach up to five to seven airbags per vehicle. This growth is expected to raise the demand for airbag silicone and result in the passenger car segment dominating the global automotive airbag silicone market.
The Asia Pacific region—particularly China, Thailand, South Korea, Japan, India, and Vietnam—offers economical manufacturing options for global airbag and airbag fabric manufacturers, and the Asia Pacific automotive airbag silicone market is majorly driven by the presence of large capacity airbag fabric manufacturers in the region. Moreover, increasing production and sales of vehicles and the implementation of stringent safety regulations to reduce road fatalities are also expected to drive market demand. Silicone improves airbag fabrics’ strength and lifespan; therefore, the increasing demand for airbags is directly driving the demand for airbag silicone in this region. Furthermore, the well-established presence of major fabric and silicone suppliers, along with that of airbag module manufacturers, is expected to drive the automotive airbag silicone market in the Asia Pacific region over the forecast period.
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The North America region includes the US and Mexico. The presence of leading airbag fabric manufacturing companies—including Toray Industries Inc, Porcher Industries, Mid Mountain Materials (US), Global Safety Textiles, UTT Technische Textilien GmbH & Co kg, and TOYOBO Co. Ltd.—is currently driving the demand for automotive airbag silicone in the region. Several airbag fabric and silicone supplier companies are concentrated in Mexico to achieve cost-efficient manufacturing, making the country the largest North America market for automotive airbag silicone. The North American Free Trade Agreement (NAFTA) between the US and Mexico enables the Mexican airbag fabric and silicone provider companies to cater to the US airbag and automotive markets while achieving the economic advantages of manufacturing in Mexico.