Silicone In Electric Vehicles Market Size, Share & Trends Report

Silicone In Electric Vehicles Market Size, Share & Trends Analysis By Product (Elastomers, Fluids, Resins), By Charging Type (PHEV, BEV), By Vehicle Type (LMV, CMV), By Region And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-2-68038-605-9
  • Number of Pages: 80
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the silicone in electric vehicles market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for silicone in electric vehicles market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of silicone in electric vehicles market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Silicone In Electric Vehicles Market Categorization:

The silicone in electric vehicles market was categorized into four segments, namely product (Elastomers, Fluids, Resins), charging type (Plugin Hybrid Electric Vehicle, Battery Electric Vehicle), vehicle type (Light Motor Vehicle, Commercial Motor Vehicle), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The silicone in electric vehicles market was segmented into product, charging type, vehicle type, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The silicone in electric vehicles market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.: Canada; Mexico; Germany; France; the UK; Italy; Spain; Netherlands; Norway; China; Japan; India; South Korea; Australia; Malaysia; Indonesia; Thailand; Brazil; Argentina; Saudi Arabia; UAE; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Silicone in electric vehicles market companies & financials:

The silicone in electric vehicles market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Wacker Chemie AG -Wacker Chemie AG operates through four business segments, namely Wacker Silicones, Wacker Polymers, Wacker Biosolutions, and Wacker Polysilicon. Approximately, 70% of the company’s revenue is obtained through the sales of silicone-based products and the rest 30% is obtained through ethylene-related products. Its overall product portfolio consists of over 3,200 products. Wacker Silicones offers over 2,800 products, along with silicone for standard and specialty applications in industries such as construction and automotive.

  • Elkem Silicones -Elkem Silicones was founded in 1904 and is headquartered in Oslo, Norway. The company operates through four business segments: silicones, silicone materials, foundry products, and carbon. Silicone segment is engaged in the production and marketing of silicones for use in a variety of applications such as engineering elastomers, specialty fluids, coatings, healthcare products, emulsions, and resins.

  • The Dow Chemical Company (Formerly Dow Corning) - The Dow Chemical Company operates through eight major business segments include Performance Materials & Coatings, Transportation & Advanced Polymers, Electronics & Imaging, Safety & Construction, Nutrition & Biosciences, Agriculture, Packaging & Specialty Plastics, and Industrial Intermediates & Infrastructure. The Performance Materials & coatings business segment has coatings & performance monomers and consumer solutions as sub-segments. Consumer solutions is further categorized into home & personal care, performance silicones, and silicone feedstock & intermediate divisions.

  • H.B. Fuller Company - H.B. Fuller Company is engaged in the production and marketing of adhesives, sealants, and other specialty chemical products. The adhesive products offered by the company find use in various industries including automotive, marine, solar energy, electronics, defense, aerospace, building & construction, textiles, consumer, and industrial goods manufacturing. The company has six operating segments, namely Engineering Adhesives, Royal Adhesives, Americas Adhesives, Construction Products, Asia Pacific, and EIMEA (Europe, India, Middle East and Africa). Americas Adhesives, EIMEA, and Asia Pacific segments provide specialty adhesives such as solvent-based, thermoplastic, water-based, thermoset, and reactive.

  • Nexeon Limited - Nexeon Limited is engaged in manufacturing silicon anodes for use in lithium-ion batteries using a patented technology. The new technology enables the company to achieve higher battery capacity in smaller size and longer lifetime. Silicon anode lithium-ion batteries find use in different applications including electric vehicles, aerospace, defense, medical, energy, and consumer electronics. Electric vehicles include battery electric vehicle (BEV), plug-in hybrid electric vehicles (PHEV), and hybrid electric vehicle (HEV), whereas consumer electronics include notebooks, mobiles, cameras, and portable game machines. In medical applications, the batteries are used in defibrillator machines, emergency lighting, and pacemaker devices.

  • ACC Silicones Ltd.- ACC Silicones Ltd. manufactures a wide range of silicone products including adhesives, coatings, encapsulates, greases, primers, additives, antifoams, emulsions, fluids, gels, and molding rubber. These products are supplied to various end-use industries such as automotive, aerospace, chemical processing, construction, electronics, textile, water treatment, and lubricants among others. The company has established a distribution network across countries including the UK, Belgium, Slovakia, the Netherlands, Malta, Greece, Switzerland, Sweden, Austria, the Czech Republic, Poland, Spain, Hungary, Italy, Denmark, Finland, Bulgaria, France, Romania, Germany, Turkey, Israel, the UAE, China, South Korea, Malaysia, Singapore, and Australia.

  • KCC Corporation - KCC Corporation was established in 1958 and is headquartered in Seoul, South Korea. The company operates through various business segments such as Silicone, Building Materials, Interior Decorative Products, Coatings, Windows, Glass, Home Interior, and Advanced Materials. Silicone business segment offers products such as silane & silane coupling agents, silicone oil, silicone emulsions & dispersion products, silicone resins, pressure-sensitive adhesives, paper release agents (i.e. reactive silicone compounds), high-temperature vulcanizing (HTV) silicone rubber, liquid silicone rubber (LSR), room-temperature-vulcanizing (RTV) silicone rubber, and silicone sealants.

  • Rogers Corporation - Rogers Corporation was established in 1832 and is headquartered in Arizona, U.S. The company operates through three business units, namely Advanced Connectivity Solutions (ACS), Elastomeric Materials Solutions (EMS), and Power Electronics Solutions (PES). The PES unit deals with variable frequency drives, hybrid-electric & electric vehicles, renewable energy, and laser cutting equipment.

  • LORD Corporation -LORD Corporation serves various industries such as aerospace & defense, automotive, building & construction, electronics, industrial equipment, oil & gas, and transportation. It is engaged in manufacturing a diverse range of products including adhesives, coatings, electronic materials, flight control equipment, sensing systems, specialty chemicals, active vibration control systems, vibration & motion control systems, and SbW tactical feedback devices. The company has established offices across North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

  • Shin-Etsu Chemical Co., Ltd. - Shin-Etsu Chemical Co., Ltd. operates through six business segments: Polyvinyl Chloride (PVC) & Chlor-Alkali, Silicones, Specialty Chemicals, Semiconductor Silicon, Electronics & Functional Materials, and Processing, Trading, & Specialized Services. PVC & Chlor-Alkali business segment of the company offers polyvinyl chloride (PVC), caustic soda, methanol, and chloromethane. Silicones business segment offers silicone products for use in automotive, construction, solar cells, paper production, detergents, additives, glass fiber coatings, marine coatings, and other applications. The Specialty chemicals segment provides cellulose-based products, synthetic pheromones, silicon metal, polyvinyl alcohol-based products, adhesives, and paints. 

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Silicone In Electric Vehicles Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Silicone In Electric Vehicles Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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