Press release
Automotive Silicone Global Market Size, Share, Growth, Trends, By Product Type, By Application, By Region And Segment Forecasts, 2023-2032 | Wacker Chemie AG, Evonik Industries, Elkem Silicones, Shin-Etsu Chemical Co. Ltd., Momentive Inc.
Automotive Silicone Global Market
The Business Research Company's Automotive Silicone Global Market Report 2023 identifies Rising demand for fuel-efficient vehicles is expected to propel the growth of the automotive silicone market going forward. Fuel-efficient vehicles are vehicles that give better mileage per gallon of fuel than other less efficient models. Automotive silicones contribute to weight reduction in automobiles, which results in lower emissions of pollutants and increased fuel efficiency.
The global automotive silicone market is expected to grow from $2.43 billion in 2022 to $2.61 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive silicone market is expected to grow to $3.39 billion in 2027 at a CAGR of 6.7%.
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Major competitors in the Automotive Silicone market Wacker Chemie AG, Evonik Industries, Elkem Silicones, Shin-Etsu Chemical Co. Ltd., Momentive Inc., KCC Corporation, Henkel AG & Co. KGaA, Siltech Corporation, Primasil Silicones, ACC Silicones Ltd., CSL Silicone Inc., Rogers Corporation, NuSil Technology LLC, Bostik, and Laur Silicone Inc.
Product innovation is a key trend gaining popularity in the automotive silicone market. Many companies operating in the automotive silicone market are developing new products with advanced technologies to strengthen their position in the market.
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The Automotive Silicone Market Is Segmented -
• By Type: Elastomers, Resins, Gels, Fluids
• By Form: Sealant, Tape, Epoxy
• By Application: Interior and Exterior, Engines, Electrical, Tires, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Automotive Silicone market.
The Business Research Company's "Global Automotive Silicone Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Silicone Market Include:
1. Executive Summary
2. Automotive Silicone Market Characteristics
3. Automotive Silicone Market Trends And Strategies
4. Automotive Silicone Market - Macro Economic Scenario
5. Automotive Silicone Market Size And Growth
.....
26. Africa Automotive Silicone Market
27. Automotive Silicone Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Silicone Market
29. Automotive Silicone Market Future Outlook and Potential Analysis
30. Appendix
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