Silicone Masterbatches Market in Europe to Expand with Advancements in Automotive Industry, Says Study by TMR – PR Newswire

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– Growing use of silicone for manufacturing transportation, energy, packaging products, and auto interior PP parts is driving the growth prospects in the silicone masterbatches market
– Surge in the need for stable power supply is creating promising opportunities in the silicone masterbatches market, which is expected to be valued at US$ 427.5 Mn by 2031
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Mar 14, 2022, 23:30 ET
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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 Players
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