The Global Automotive Airbag Silicone Market Size is Projected to Reach USD 534 Million by 2025, from an Estimated Value of USD 239 Million in 2020, at a 17.5% CAGR.
Initially, demand for airbags was restricted in most regions to frontal airbags. In2012, however, the EU required the introduction, in addition to frontal airbags, of head-protecting airbags and side airbags, which propelled the market for curtain/side and other airbag styles. Growth in the industry is expected to be driven by rising sales of premium cars with more safety options, including 5-8 airbags per car, combined with increasing demand and penetration of other airbag styles in passenger vehicles.
In the coming years, strict safety regulations are expected to drive the Vehicle Airbag Silicone Market, along with growing instals and increasing demand for frontal, curtain/side, and knee airbags. Rise in demand for electric vehicles and rising airbag penetration in commercial vehicles are projected to provide market players with growth opportunities during the forecast period.
The Asia Pacific is expected to lead the market in the forecast period 2020-2025. Increased demand in countries like China, Japan, South Korea, and Thailand can be attributed to international development due to cost-effectiveness and regional airbag firms optimizing their presence to reduce supply chain costs. On the other hand, because of the lack of supplier involvement, countries such as India are highly dependent on outsourcing to meet the demand for fabric and automotive airbag silicone.
The high number of road crashes and associated deaths and rising public protection issues are the key factors driving demand in the Asia Pacific region for automobile airbags. In addition, stricter rules and regulations are coming up in Asia Pacific countries to limit road fatalities.
Advantages offered by silicone-coated airbags
During activation, airbags generate heat that can increase the risk of burning the occupants. Without the airbag ripping or tearing during deployment, applying a silicone coating to the airbag will dissipate/contain this heat. In contrast to alternatives such as neoprene coating, airbags treated with a silicone coating often allow fast deflation once the peak inflation pressure is reached, along with added benefits such as thermal resistance and airbag safety. Furthermore, the excellent performance of silicone with commonly used airbag materials such as nylon enables it to form a protective barrier against moisture and stay chemically inert. These advantages are expected to fuel the demand for automotive airbags made from silicone-coated.
Increase in the demand for electric vehicles
Electric vehicle demand is pushing car manufactures to invest in technologies for electric cars. Different investment plans have been announced by several OEMs to build and launch new electric vehicles. Growing customer demand for electric cars is projected to provide the automotive airbag silicone industry with a growth opportunity during the forecast period.
Issues in price-sensitive markets
Car manufacturers fail to include passive protection systems to comply with safety legislation while ensuring a balance between performance and price in price-sensitive markets such as India, South Africa, Brazil, and other ASEAN nations.
Aside from mandated third-party protection, the expense of passenger vehicles has risen with the addition of new safety technologies such as airbags, seat belt warnings, and reverse parking sensors. It is projected that these protection features would increase the average cost of the car by about 8-10%. If more airbags raise the average price of the car, OEMs in price-sensitive markets have only one or two airbags to conform to mandates. This is expected to threaten the development of the silicone market for automotive airbags over the projected era.
Increasing growth of active safety systems
The need and number of airbags per car is expected to decrease with the increasing penetration of these devices to prevent injuries. During the forecast era, this estimated decrease in airbags per car is expected to hamper the demand for silicones and hamper the need for automotive silicone airbags.
Key Market Players
Global Automotive Airbag Silicone Market Coverage
Airbag Position Insight and Forecast 2015-2025
Airbag Type Insight and Forecast 2015-2025
Vehicle Type Insight and Forecast 2015-2025
Electric Vehicle Insight and Forecast 2015-2025
Automotive Airbag Silicone Market by Region
Rest of the World (RoW)