Argentina Automotive Silicone Market Outlook

argentina is one of the major economies in latin america with a large automotive industry. the automotive market in argentina has witnessed significant growth because of rising consumer demand, supported by favorable government policies. according to a report by frost & sullivan, the automotive industry in argentina is expected to reach a value by 2025 of us$15.1 billion, with an expected compound annual growth rate of 4.21% from 2018 to 2032. one of the key materials used in the automotive industry in argentina is silicone. the use of silicone in the automotive industry helps in the production of safer, superior, and more reliable vehicles by giving a wide range of properties including heat and chemical resistance, inflammability, water resistance, electrical conductivity, and so on. the demand for automotive silicone in argentina is expected to increase significantly as the automotive industry grows. firstly, the easy availability of raw materials and the presence of domestic industry associated with automotive silicone are the key drivers of demand for automotive silicone. the presence of major suppliers such as wacker, bluestar silicones, and shin-etsu, which have long-term production and supply contracts with various automotive manufacturers, helps drive the demand for automotive silicone in the country. secondly, with technological advancements, sensorial applications have increased in vehicles, with these components increasingly being incorporated into the design. the use of components such as sensors and connected systems utilising silicone as a material can be expected to drive the growth of the automotive silicone market in argentina. lastly, increasing awareness among consumers about the importance of vehicle safety has led to many automotive manufacturers incorporating a variety of safety systems in their vehicles. this has resulted in the increased utilisation of materials such as silicone as key components in these systems. this has, in turn, resulted in increased demand for automotive silicone in the country. the automotive silicone market in argentina is expected to witness positive growth during the forecast period of 2018-2032. the increasing demand for automotive vehicles and growing responsiveness to safety, combined with the presence of major international players, will provide a strong platform for the country’s automotive silicone industry.