China Silicone In Electric Vehicles Market Size & Outlook
China silicone in electric vehicles market, 2018-2030 (US$M)
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China silicone in electric vehicles market highlights
- The China silicone in electric vehicles market generated a revenue of USD 1,680.5 million in 2022 and is expected to reach USD 4,240.5 million by 2030.
- The China market is expected to grow at a CAGR of 12.3% from 2023 to 2030.
- In terms of segment, elastomers was the largest revenue generating product in 2022.
- Elastomers is the most lucrative product segment registering the fastest growth during the forecast period.
Silicone in electric vehicles market data book summary
| Market revenue in 2022 | USD 1,680.5 million |
| Market revenue in 2030 | USD 4,240.5 million |
| Growth rate | 12.3% (CAGR from 2022 to 2030) |
| Largest segment | Elastomers |
| Fastest growing segment | Elastomers |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Elastomers, Fluids, Resins |
| Key market players worldwide | Wacker Chemie AG, Elkem ASA Ordinary Shares, Dow Inc, H.B. Fuller Co, Rogers Corp, Shin-Etsu Chemical Co Ltd, KCC, LORD Corporation, Nexeon, CHT Silicone Experts |
Other key industry trends
- In terms of revenue, China accounted for 27.6% of the global silicone in electric vehicles market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China silicone in electric vehicles market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 4,240.5 million by 2030.
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Silicone In Electric Vehicles Market Scope
Silicone In Electric Vehicles Market Companies
| Name | Profile | # Employees | HQ | Website |
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China silicone in electric vehicles 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 electric vehicles market will help companies and investors design strategic landscapes.
Elastomers was the largest segment with a revenue share of 47.54% in 2022. Horizon Databook has segmented the China silicone in electric vehicles market based on elastomers, fluids, resins covering the revenue growth of each sub-segment from 2018 to 2030.
In February 2018, Ministry of Finance, China, announced a rise in incentive structure. According to the new structure, vehicles with a range of over 400 km (vehicles that can go up to 400 km in a single charge) will be provided an incentive of USD 3,030–6,666 per vehicle. The initiative is expected to boost the production of electric vehicles in the country, which, in turn, is likely to fuel the demand for silicone in electric vehicles.
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Horizon Databook provides a detailed overview of country-level data and insights on the China silicone in electric vehicles market , including forecasts for subscribers. This country databook contains high-level insights into China silicone in electric vehicles market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China silicone in electric vehicles market size, by product, 2018-2030 (US$M)
China Silicone In Electric Vehicles Market Outlook Share, 2022 & 2030 (US$M)
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