Automotive silicone Market Share Executive Summary, Segmentation, Review, Trends, Opportunities, Growth, Demand and Forecast to 2027
Market Outlook 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 till 2023. The Automotive silicone Market Share 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 th