MUNICH, Germany—Wacker Chemie A.G. has renewed its commitment to the silicones market with a strategic focus on serving the growing electric vehicle industry.
The German group has set itself the goal of becoming "a leading automotive specialty silicone supplier," aiming to expand its OEM and Tier 1 customer base and leverage R&D capabilities, Wacker stated Sept. 19.
"We will continue to invest systematically in innovation and in expanding our global production network," Wacker CEO Christian Hartel said during a capital markets day event in Burghausen, Germany.
Focusing on specialty products, Hartel said the group would intensify its efforts on "high-tech silicones to enable the energy and mobility transition."
The Munich-based group expects to capitalize on its recent investments in silicone expansions in China and Germany to support growth through to 2030.
At the core of its strategy, Wacker aims to enhance differentiation by targeting specific, high-value specialty end markets.
In particular, the group identifies a "megatrend" in the sustainable automotive sector, where it says silicones are "essential" for various key components in electric vehicles.
With high heat resistance, insulation properties and flexibility, silicones are used up to four times more in electric vehicles than in internal combustion engines, according to Wacker.