Automotive silicone market to grow at 7.1% rate

摘要

The market size of automotive silicone, in terms of value, is expected to reach $3.33 billion by 2023 from $2.37 billion in 2018, at a CAGR of 7.1% from 2018 to 2023, according to a market study from Markets and Markets. High growth application areas such as electrical components, and interior and exterior parts used in the automotive industry, rising income of people in emerging economies and high growth in the automotive industry are the key factors driving the growth of the automotive silicone market.