Silicone Rubber Market in Europe is projected to Exceed US$ 2.6 Bn by 2031, Notes TMR Study

• Rise in demand for silicone rubber from the automotive industry is generating business prospects in the market
• Increase in use of VR in the construction industry is driving the silicone rubber market

ALBANY, N.Y., May 2, 2022 /PRNewswire/ -- The silicone rubber market in Europe is estimated to register growth at a CAGR of 5.52% during the forecast period from 2021 to 2031, notes a research report by Transparency Market Research (TMR).

In the automotive industry, silicone rubber is utilized in varied applications such as tire additives, foam padding, navigation displays, and engine gaskets. One of the key reasons for this rise in use of silicone rubber is its improved consistency, which allows it to sustain in harsh operating situations in different automotive components and systems. Hence, the expansion of the automotive industry is resulting in lucrative opportunities for companies operating in the global silicone rubber market.

Companies operating in the silicone rubber market are developing advanced silicone rubber intended for varied automotive applications. These products are gaining popularity, owing to their ability to offer best combination of compression and tear resistance set at high temperatures.

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In recent years, the trend of using 3 dimensional (3D) blueprints of construction projects is increasing around the world. Moreover, the popularity of computer aided design (CAD) outlines of buildings is resulting in rise in apartment sales. These trends are estimated to favor the growth of the silicone rubber market in the upcoming years. Companies in the construction industry are increasing the adoption of virtual reality (VR) and augmented reality (AR) in providing actual look & feel of apartments in order to attract more buyers. These factors are boosting sales in the silicone rubber market.

Europe Silicone Rubber Market: Key Findings

• Silicone rubber is gaining impetus among companies from a wide range of end-use industries, owing to their several advantages such as versatility and ability to advance the performance in varied final products while stimulating innovation. In the recent years, there has been a surge in the adoption of electric vehicles. Moreover, people around the world are inclining toward using safer autonomous vehicles. These factors are creating profitable opportunities in the silicone rubber market.

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• Government authorities of several nations such as European Union are imposing regulations due to which, organizations are required to use low-emission and effective materials in various end-use industries. This factor is resulting in lucrative avenues in the global silicone rubber market.
• Many developed & developing nations around the world are increasing their investments toward the development of green building programs, notes a study on the silicone rubber market. Moreover, the demand for silicone rubber is increasing across the globe, owing to their increased use in concrete decks, slabs, and in many interior parts such as doors and baseboards. Hence, the expansion of the construction industry is driving the demand in the silicone rubber market.

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Europe Silicone Rubber Market: Growth Boosters

• Rise in product use in transportation and automobile sectors is driving sales in the silicone rubber market
• Increase in investments in R&Ds in order to develop innovative liquid silicone rubbers is propelling the market
• Surge in sales of marine vessels, automobiles, and aircraft is boosting growth avenues in the global market
• Transformation of railways is estimated to help in growth of the silicone rubber market

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Europe Silicone Rubber Market: Key Players

Some of the key players profiled in the report are:

• Momentive Performance Materials
• KCC Corporation
• Dow Inc.
• Zhejiang Xinan Chemical Industrial Group
• Simtec Silicone Parts
• Wacker Chemie AG
• Elkem Silicones
• Adopol
• Shin-Etsu Chemical Co
• MESGO S.p.A.
• Shenzhen Inno Silica Co., Ltd.
• Reiss Manufacturing, Inc.
• Zhongshan Tinhou Plastic Industrial Co., Ltd
• Stockwell Elastomerics, Inc.
• Innovative Silicones

Silicone Rubber Market Segmentation

Type  

• Liquid Silicone Rubber
• High Temperature Vulcanized
• Room Temperature Vulcanized
• Fluorosilicone Rubber

Application

• Gasket & Seals
• Adhesives &Sealants
• Coatings
• Encapsulants
• Catheters & Tubing

End-use industry  

• Electronics
• Aerospace
• Construction
• Medical
• Automotive
• Consumer Products

Region         

• Germany
• U.K.
• France
• Italy
• Spain
• Russia & CIS
• Rest of Europe

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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research

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