ALBANY, N.Y., March 15, 2022 /PRNewswire/ — The silicone masterbatches market is prognosticated to register growth at a CAGR of 6.3% during the forecast period from 2021 to 2031, states a research report by Transparency Market Research (TMR).
Sales of automotive vehicles have been on the surge in several European nations. Moreover, government authorities in Europe are increasing initiatives to decrease the carbon emission levels, thereby containing the severe impacts of greenhouse gas emissions. As a result, they are imposing stringent regulations pertaining to trucks and light duty vehicles to meet specific emission standards, notes the TMR study on the silicone masterbatches market. Hence, companies operating in the automobile industry are utilizing lightweight materials in the development of key vehicle parts. The demand for silicone masterbatches is increasing in the industry, owing to its key properties such as high strength, low coefficient of friction, and fire resistance.
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Silicone Masterbatches Market: Key Findings
- Silicone is being utilized in a wide range of industries in the manufacturing of transportation products such as auto interior PP parts and different energy products, including wire & cables, according to the TMR study on the silicone masterbatches market. In addition, these materials are also being increasingly utilized for…
