The import of silicones to India is forecasted to grow steadily from 2024 through 2028, with values rising from $330.58 million in 2024 to $382.99 million in 2028. Assuming 2023 figures were marginally lower than those of 2024, this reflects a robust upward trend over the forecast period. The year-on-year growth rates are consistently positive, indicating a healthy demand trajectory for silicones in the Indian market. The compound annual growth rate over this period suggests a steady average annual increase, driven by expanding industrial applications and technological advancements.
Future trends to watch for include:
- Increased use in the automotive sector due to advancements in electric vehicle technology.
- Growth in the construction and healthcare sectors that drive silicone demand for sealants, adhesives, and medical devices.
- Potential impact of international trade policies and currency fluctuations on import costs.
