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Showing posts with the label Automotive Silicone Market Size

Automotive Silicone Market Application Market 2022 technology development demand overview industry growth rate top companies and key regions

  Market Outlook The automotive silicone market is expected to achieve a windfall due to the upswing noticed in sales of vehicles in the automotive sector. The high demand for lightweight vehicles due to rapid urbanization and changing lifestyles of consumers can drive the market. This trend is supported by properties of silicone such as durability, resistance, and strength. The use of silicone in exterior paints, car parts, tires, and other parts can spur the market demand exponentially during the forecast period. The skyrocketing gas prices have led to manufacturers’ shift to elements that can lower vehicle weight and overall emissions. Governments regulations such as the Corporate Average Fuel Economy (CAFÉ) which has specified standards for controlling fuel consumption rates and emission levels can positively impact the market. Consumer awareness of the element as well as emerging trends of electric vehicles (EVs) and hybrid vehicles can favor the global automotive silicone market