The rapidly expanding building & construction industry in emerging and developed economies such as India , China , Mexico , Brazil , the US, Canada , and Germany is expected to boost the silicone polymer demand during forecast period. For instance, according to the Global Alliance for Buildings and Construction, the global construction market size is expected to reach US$ 13,572.4 billionby 2024. Increasing urbanization due to growing population globally, rapid technological advancements in infrastructure development and rise in disposable income is expected to drive the global construction market revenue growth over the forecast period. Moreover, the increasing demand for lightweight automobile parts and growing research and development activities to develop new and innovative products is expected to propel silicone polymer demand during the forecast period. Lightweight materials such silicone elastomer, resin, and silicone emulsions are used to reduce automobile weight, which results in decreasing the overall fuel consumption. High thermal stability associated with silicone polymers is estimated to boost its demand in automotive applications during the forecast period.
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