Russia Silicone Market Size & Outlook, 2022-2030
Russia silicone market, 2019-2030 (US$Ms)
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Russia silicone market highlights
- The Russia silicone market generated a revenue of USD 532.8 millions in 2022 and is expected to reach USD 864.1 millions by 2030.
- The Russia market is expected to grow at a CAGR of 6.2% from 2023 to 2030.
- In terms of segment, elastomers was the largest revenue generating product in 2022.
- Gels is the most lucrative product segment registering the fastest growth during the forecast period.
Silicone market data book summary
| Market revenue in 2022 | USD 532.8 millions |
| Market revenue in 2030 | USD 864.1 millions |
| Growth rate | 6.2% (CAGR from 2022 to 2030) |
| Largest segment | Elastomers |
| Fastest growing segment | Gels |
| 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 |
Other key industry trends
- In terms of revenue, Russia accounted for 2.7% of the global silicone market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany silicone market is projected to lead the regional market in terms of revenue in 2030.
- Russia is the fastest growing regional market in Europe and is projected to reach USD 864.1 millions by 2030.
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Silicone Market Scope
Silicone Market Companies
| Name | Profile | # Employees | HQ | Website |
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Russia silicone 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 market will help companies and investors design strategic landscapes.
Elastomers was the largest segment with a revenue share of 42.49% in 2022. Horizon Databook has segmented the Russia silicone market based on fluids, gels, resins, elastomers covering the revenue growth of each sub-segment from 2019 to 2030.
Russia is among the top 12 largest automobile markets across the world. According to the International Organization of Motor Vehicle Manufacturers (IOCA), in 2019, Russia produced approximately 1.71 million vehicles, including passenger and commercial vehicles, which was 2.8% lower as compared to that in 2018.
However, the production in 2020 went down to 17% owing to several reasons including manufacturing plant shutdowns, plummeting demand for new vehicles, protective regulations to promote localization of the production of automobiles and tighter loan regulations. According to the report published by Bellona Foundation, an independent non-profit organization.
In April 2020, Russia announced to cancel import taxes for electric cars for the rest of the year in 2020, aiming to boost the purchases of zero-emission vehicles and to expand the charging infrastructure in the country. This is expected to have a positive impact on the demand for silicone in electrical vehicle application as well as in charging equipment, such as batteries hoses and cables used in charging infrastructure, in the coming years.
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Our clientele includes a mix of silicone market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Russia silicone market , including forecasts for subscribers. This country databook contains high-level insights into Russia silicone market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Russia silicone market size, by product, 2019-2030 (US$Ms)
Russia Silicone Market Outlook Share, 2022 & 2030 (US$Ms)
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