U.S. Silicone In Electric Vehicles Market Size & Outlook
U.S. silicone in electric vehicles market, 2018-2030 (US$M)
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U.S. silicone in electric vehicles market highlights
- The U.S. silicone in electric vehicles market generated a revenue of USD 1,488.0 million in 2022 and is expected to reach USD 2,807.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 8.3% 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 1,488.0 million |
| Market revenue in 2030 | USD 2,807.7 million |
| Growth rate | 8.3% (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, U.S. accounted for 24.4% 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 North America, U.S. silicone in electric vehicles market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 2,807.7 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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U.S. 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 49.25% in 2022. Horizon Databook has segmented the U.S. silicone in electric vehicles market based on elastomers, fluids, resins covering the revenue growth of each sub-segment from 2018 to 2030.
A number of states in the U.S., including California, New Jersey, Washington, and Louisiana, are providing tax credits, exemptions, and rebates to fuel the procurement of electric vehicles (EVs). New Jersey and Washington exempt the sales and use taxes for EVs, while California offers rebates to plugin hybrid electric vehicles (PHEVs) and other light-duty zero-emission vehicles.
The tax incentive programs implemented by different states in the U.S. are likely to boost the demand for electric vehicles, which, in turn, is projected to fuel the growth of silicone in electric vehicles market over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. silicone in electric vehicles market , including forecasts for subscribers. This country databook contains high-level insights into U.S. silicone in electric vehicles market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. silicone in electric vehicles market size, by product, 2018-2030 (US$M)
U.S. Silicone In Electric Vehicles Market Outlook Share, 2022 & 2030 (US$M)
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