Report ID: UCMIG15E2366
Report ID:
UCMIG15E2366 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global market for silicone in car care products reached a valuation of USD 216.9 million in 2020 and is projected to grow at a steady compound annual growth rate (CAGR) of 3.2% from 2021 to 2028. This growth can be attributed to the increasing demand for effective car maintenance solutions and the growing automotive industry worldwide. Silicone-based car care products offer numerous benefits such as enhanced gloss, water repellency, and protection against UV radiation. The rising awareness among consumers about the importance of vehicle appearance and the availability of advanced car care solutions are expected to drive the demand for silicone-based products in the automotive sector.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Specialty Chemicals by segment aggregation, the contribution of the Specialty Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG15E2366