Automotive industry

Growing Application in Automotive Industry to Grow Silicone Rubber Market in Europe to Over US$2.6 Billion by 2031

Liquid silicone rubber will represent the lion’s share of the European silicone rubber market until 2031

Europe The Silicone Rubber Market research report published by Fact.MR offers an in-depth perspective on the key factors driving sales and demand in the industry. The report further provides detailed information about recent industry developments, drivers and challenges in major segments including type, application and end-use for the forecast period (2022-2031) .

NEW YORK , May 24, 2022 /PRNewswire/ — Europe The silicone rubber market size is expected to reach a valuation of US$1.6 billion by the end of 2022. The growth of the market is attributed to the increasing application of liquid silicone rubber in the healthcare, construction and automotive sectors.

With the increasing adoption of the electric car across the world, the need for safe self-driving automobiles is increasing. On the back of this, the demand for silicone rubber is expected to increase. Based on these factors, Europe the silicone rubber market is expected to exceed US$2.6 billion by 2031.

The application of silicone rubber in the automotive industry as tire additives, foam padding and engine gaskets will drive the demand in the market. Hence, leading companies in the silicone rubber market are developing advanced silicone rubber for improved efficiency.

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As liquid silicone rubber has chemical stability, strength, and low viscosity, the use of this rubber is increasing in the construction and automotive industries. The application of liquid silicone rubber in automobiles, ships and railways is enhancing the market growth.

According to Fact.MR, Germany and France should lead the Europe silicone rubber market over the forecast period of 2022 and 2031. Expansion of automotive and construction industries in Germany and France propel the growth of Europe silicone rubber market.

Key points to remember:

  • By type, liquid silicone rubber to gain traction due to its chemical stability, temperature and strength
  • In terms of end use, the automotive industry will dominate Europe silicone rubber market over the forecast period.
  • The construction industry end-use segment will likely account for the second largest market share through 2022 and beyond
  • With the rapid expansion of the construction and automotive industries, Germany should be the spearhead of growth Europe silicone rubber market.
  • Europe the silicone rubber market reached a valuation of US$1.52 billion by the end of 2021.

Growth drivers:

  • Growing demand for liquid silicone rubber products in construction and healthcare sectors will drive the market growth.
  • The application of silicone rubber in the electronic and electrical industry is booming. This should stimulate the market.

Constraints:

  • Strict regulatory policies associated with the use of rubber in Europe could limit the growth of the market.

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Competitive Landscape:

silicone rubber companies in Europe focus on product development to expand their market presence. Some of the major players in Germany collaborate with end users and prioritize research and development to develop unique and high quality products to increase their revenue.

For instance,

  • In April 2022, leading player Dow Inc. has announced the expansion of its silicone production capacity. The company invests in research and development for the expansion of production capacity.

Top Companies Featured by Fact.MR

  • Momentive Performance Materials
  • Dow Inc.
  • Wacker Chemie AG
  • Simtec Silicone Parts
  • Elkem Silicones
  • Reiss Manufacturing, Inc.
  • Stockwell Elastomers, Inc.
  • Innovative silicones

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More Valuable Insights into Europe Silicone Rubber Market

In the latest study, Fact.MR offers a 360 degree view of the Europe Silicone Rubber Market for the forecast period 2022 to 2031. This report also provides key factors such as recent developments and growth drivers influencing the sales in Europe Silicone Rubber Market by Detailed Segmentation as follows:

By type:

  • Liquid silicone rubber
  • High temperature vulcanized rubber
  • Rubber vulcanized at room temperature
  • Fluorosilicone rubber

Per application:

  • gaskets and seals
  • Adhesives and sealants
  • Coatings
  • Encapsulants
  • Catheters and tubing
  • Others

By end-use industry

  • Electronic
  • Aerospace
  • Construction
  • Medical
  • Automotive
  • consumer products

By region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Questions Covered in the European Silicone Rubber Market Report

  • What will be the outlook for demand for Europe silicone rubber market in 2022?
  • What will be the growth rate of Europe silicone rubber market in 2022-2031?
  • What are the main growth drivers for Europe silicone rubber market?
  • What are the factors that hinder the growth of Europe silicone rubber market?
  • Which region is expected to show the fastest growth in the Europe silicone rubber market in 2022-2031?

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