Silicone Fabrics Market Size, Share, Growth Analysis, By Type(Silica, Fiberglass, Polyamide, and Aramid/Glass blend), By Application(Automotive industry, Consumers, and Industrial industry), By Region - Industry Forecast 2024-2031

Drivers

Increasing Number of Airbags Per Vehicle

• According to the Insurance Institute for Highway Safety, 22,416 people died in traffic accidents in the US. in 2019. Most deaths, ie. 57% of all deaths, occurred in the passenger seated position of the vehicle while 23% died in the side position. Thus, many government laws have focused on accidental deaths. According to the National Highway Traffic Safety Administration (NHTSA), front airbags have been standard equipment in all passenger cars and all SUVs and vans because they reduce the chance of an upper body collision or his head will hit the car when it hits.

Rapid Growth in Aging Population to Boost Biomedical Textiles Market

• One of the major factors driving the market growth is the increasing global elderly population. Osteoporosis, heart disease, spine and eye disease are common in the elderly due to age-related physiological changes. Most of these diseases can be successfully treated with surgery. Thus, the aging population is driving the demand for surgery. Each year in the United States, emergency rooms treat 2.7 million elderly patients for falls, according to the Centers for Disease Control and Prevention (CDC).

Restraints

The Availability of Affordable Options Creates Fierce Competition in the Market

• There are many alternatives to silicone coated fabrics. Major alternatives to silicone-coated fabrics include fabrics coated with elastomers such as PTFE, TPO, TPU, and rubber-coated fabrics, as well as polymer-coated, leather-covered fabrics on and plastic products and others. PTFE fabrics are part of composite fabrics and are used in a variety of industries, including chemical processing, textiles, screen printing, and electronics. These fabrics are widely used in industrial applications because they exhibit the desirable high properties of PTFE. For example, in the textile industry, PTFE fabrics are used to manufacture protective clothing that can be used to provide enhanced protection.

Changes in Raw Material Prices affect Market Dynamics

• The quality of the silicon market is getting stronger. Major players such as Wacker, Dow, DuPont, Momentive+KCC, Elchem and Shin-Etsu accounted for more than 80% of the global silicone supply. Silicon producers continue to face high and fluctuating feedstock costs and are expected to pass on higher prices to end users. For example, major players in the silicone market, such as Walker and Elkem, have recently increased the prices of their silicone products in order to absorb higher input and energy costs.