South Korea Silicone In Car Care Products Market Size & Outlook
South Korea silicone in car care products market, 2016-2028 (US$M)
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South Korea silicone in car care products market highlights
- The South Korea silicone in car care products market generated a revenue of USD 5.2 million in 2020 and is expected to reach USD 6.8 million by 2028.
- The South Korea market is expected to grow at a CAGR of 3.4% 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 5.2 million |
| Market revenue in 2028 | USD 6.8 million |
| Growth rate | 3.4% (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, South Korea accounted for 2.4% 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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South Korea 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 59.62% in 2020. Horizon Databook has segmented the South Korea silicone in car care products market based on silicone, specialty silicones covering the revenue growth of each sub-segment from 2016 to 2028.
South Korea car care products market is expected to witness an upscale growth in the coming years on account of expanding automobile industry in the country. Automobile industry in South Korea accounted for the sixth-largest automobile manufacturing across the globe in 2019 and is expected to gain momentum over the coming years.
This is expected to support the silicone in car care products market on a positive note. Major automotive manufacturers in the country include Hyundai, CT&T, KIA, Renault, and Ssangyong.
These manufacturers are the pioneers in passenger car and utility vehicle segment in the country and thus, are aiming to achieve business growth by offering vehicles with advanced features and attractive aesthetics.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea silicone in car care products market , including forecasts for subscribers. This country databook contains high-level insights into South Korea silicone in car care products market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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South Korea silicone in car care products market size, by product, 2016-2028 (US$M)
South Korea Silicone In Car Care Products Market Outlook Share, 2020 & 2028 (US$M)
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