Automotive Silicone Market Share is Projected to Witness a Rapid Growth by Forecast to 2030
February 21, 2023 ⚊ 1 Min read ⚊ Views 62 ⚊ BLOG
The global automotive silicone market is expected to witness rapid growth over the forecast period from 2021 to 2030. According to industry experts, the market share for automotive silicone is projected to grow at a CAGR of approximately 8% during this period. This growth is expected to be driven by several key factors, including the increasing demand for lightweight materials in automotive manufacturing and the growing demand for electric vehicles (EVs) and autonomous vehicles.
Silicone is a versatile material that offers a range of benefits for automotive applications, including high temperature resistance, chemical resistance, and excellent electrical insulation properties. These properties make it an ideal material for use in a range of automotive components, including seals,
