China Silicone In Car Care Products Market Size & Outlook
China silicone in car care products market, 2016-2028 (US$M)
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China silicone in car care products market highlights
- The China silicone in car care products market generated a revenue of USD 39.3 million in 2020 and is expected to reach USD 53.1 million by 2028.
- The China market is expected to grow at a CAGR of 3.8% from 2021 to 2028.
- In terms of segment, specialty silicones was the largest revenue generating product in 2020.
- Specialty Silicones is the most lucrative product segment registering the fastest growth during the forecast period.
Silicone in car care products market data book summary
| Market revenue in 2020 | USD 39.3 million |
| Market revenue in 2028 | USD 53.1 million |
| Growth rate | 3.8% (CAGR from 2020 to 2028) |
| Largest segment | Specialty silicones |
| Fastest growing segment | Specialty Silicones |
| Historical data | 2016 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Silicone, Specialty Silicones |
| Key market players worldwide | 3M Co, CHT Group, Evonik Industries AG, Dow Inc, Momentive, Henkel AG & Co KGaA, Sonax, Wacker Chemie AG, Shin-Etsu Chemical Co Ltd, Energizer Holdings Inc, MA-FRA, Liqui Moly |
Other key industry trends
- In terms of revenue, China accounted for 18.1% of the global silicone in car care products market in 2020.
- Country-wise, China is expected to lead the global market in terms of revenue in 2028.
- In Asia Pacific, China silicone in car care products market is projected to lead the regional market in terms of revenue in 2028.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 11.8 million by 2028.
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Silicone In Car Care Products Market Scope
Silicone In Car Care Products Market Companies
| Name | Profile | # Employees | HQ | Website |
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China silicone in car care products market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to silicone in car care products market will help companies and investors design strategic landscapes.
Specialty silicones was the largest segment with a revenue share of 59.8% in 2020. Horizon Databook has segmented the China silicone in car care products market based on silicone, specialty silicones covering the revenue growth of each sub-segment from 2016 to 2028.
According to United States Geological Survey (USGS), China is the largest producer of silicon, which produced approximately 4,500 thousand tons per year in 2019. Thus, silicone is available in large quantities and at a cheaper price compared to other countries, which makes the adoption of silicone in car care applications highly favorable in the country.
China is the largest manufacturer of vehicles in the region. Investments by major automotive manufacturers from North America and Europe have led to the growing production of all types of vehicles including LCVs, HCVs, and passenger cars.
In addition, the demand for premium cars is increasing in the country, which is expected to have a positive impact on the demand for silicone in car care products.
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Horizon Databook provides a detailed overview of country-level data and insights on the China silicone in car care products market , including forecasts for subscribers. This country databook contains high-level insights into China silicone in car care products market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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China silicone in car care products market size, by product, 2016-2028 (US$M)
China Silicone In Car Care Products Market Outlook Share, 2020 & 2028 (US$M)
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