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Latin America Silicones Market Outlook The growth in the home and personal care sector, as well as the automotive sector in the Latin American regions, has driven the demand for fluids, elastomers and resins in the silicones market. Aided by the growth in the global silicones market, which is projected to grow at a CAGR of about 5% during the forecast period of 2020-2025, the Latin America silicones market is expected to reach 0.1 million metric tons by 2025.