Market revenue in 2022 | USD 286.8 millions |
Market revenue in 2030 | USD 434.7 millions |
Growth rate | 5.3% (CAGR from 2022 to 2030) |
Largest segment | Fluids |
Fastest growing segment | Elastomers |
Historical data | 2019 - 2021 |
Base year | 2022 |
Forecast period | 2023 - 2030 |
Quantitative units | Revenue in USD millions |
Market segmentation | Fluids, Gels, Resins, Elastomers |
Key market players worldwide | Shin-Etsu Chemical Co Ltd, Wacker Chemie AG, Illinois Tool Works Inc, Evonik Industries AG, CK Hutchison Holdings Ltd, Kemira Oyj, Dow Inc, Elkem ASA Ordinary Shares |
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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 market will help companies and investors design strategic landscapes.
Fluids was the largest segment with a revenue share of 45.22% in 2022. Horizon Databook has segmented the Mexico silicone market based on fluids, gels, resins, elastomers covering the revenue growth of each sub-segment from 2019 to 2030.
Mexico is expected to benefit from the rising construction spending and growing inclination of consumers toward the utilization of sustainable and lightweight building materials. Moreover, continuous development in key growth areas such as medical devices, drug delivery, and specialty products for hair care is expected to boost the product demand over the forecast period.
Significant opportunities in specialized products especially high-quality rubber used in cables and battery insulation in electric vehicles coupled with the expanding automotive sector on account of rising adoption of electric vehicles are also anticipated to have a positive impact on silicone market in the country.
The demand for electric vehicles in Mexico is likely to be driven by the government’s initiatives to decarbonize the country’s transport sector and several incentives on the purchase of zero-emission vehicles (ZEVs).
Horizon Databook provides a detailed overview of country-level data and insights on the Mexico silicone market , including forecasts for subscribers. This country databook contains high-level insights into Mexico silicone market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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