Silicone in Electric Vehicle Market by Type (Elastomers, Fluids, Resins, Others): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

The global Silicone in Electric Vehicle Market is expected to cross-market value of USD 2.10 billion in 2027 from USD 1.4 billion in 2020. It is expected to grow at a CAGR of over 7.0% during the forecast period.

Global Silicone in Electric Vehicle Market

Compared to rubbers, silicone offers effective temperature tolerance at all temperatures, broadening the acceptance of electric vehicles. The improved properties of silicone are expected to boost global demand for electric vehicles, propelling the worldwide silicone of the electric vehicles market even higher. Credence Research offers holistic information and absolute accuracy in the report titled “Global Silicone in Electric Vehicle Market.”

Global Silicone in Electric Vehicle Market

Key Market Drivers and Restraints

Factors that significantly impact the market growth of industrial electric vehicles will be covered here. Also, covers factors that may challenge or act as an opportunity for the market will be discussed to identify revenue generation.

Global Silicone in Electric Vehicle Market

Factors Contributing to High Demand in Industry

Electric vehicles need little maintenance, have few moving parts, and obtain favorable government policies to increase their consumer base, boosting the growth of the global market. This is partly due to the lower cost of electricity compared to gasoline, partly because electric vehicles have fewer moving parts and need less maintenance, and partly due to favorable government policies. In addition, electric vehicles mitigate environmental issues such as air pollution, reduce GHG emissions, and offer financial capabilities to businesses worldwide, according to business organizations across the globe. Consequently, the higher demand for EVs scales up the demand for silicone in EVs.

Global Silicone in Electric Vehicle Market

North America to Dominate the global market.

On the geographic front, the global market comprises six regions with all key economies pertaining to it. Credence Research provides in-depth insight into prominent regions of the worldwide market. North America dominated with over 47.2% share in 2020.

Global Silicone in Electric Vehicle Market

The Elastomers lead Global Market.

Elastomers, Fluids, Resins, and Others are the four Types of the global market. In 2020, Elastomers accounted for the largest share in the global market as they enable electric vehicles to dissipate battery heat and protect them from electromagnetic interference.

Frequently asked questions

The market for Wireless Electric Vehicle (EV) Charging System is expected to reach USD 2.10 billion in 2027.

The Silicone in Electric Vehicle Market is expected to see significant CAGR growth over the coming years, at 7.0%.

The report is forcasted from 2015-2027

The base year of this report is 2021.

ACC Resinss Ltd., Elkem Resinss, H.B. Fuller Company, KCC Corporation, LORD Corporation, Nexeon Limited, Rogers Corporation, Shin-Etsu Chemical Co.Ltd.,T he Dow Chemical Company (Formerly Dow Corning), Wacker Chemie AG are some of the major players in the global market.

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Published Date:  May 2021
Category:  Automotive & Transportation
Report ID:   60353
Report Format:   PDF
Pages:   120
Rating:    4.4 (56)
Delivery Time: 24 Hours to 48 Hours   
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