Consumption Analysis of Silicone Rubber in Europe from 2022~2031

October 06, 2024

Consumption Analysis of Silicone Rubber in Europe from 2017-2021 Vs Market Outlook for 2022-2031

As per Fact.MR, a market research and competitive intelligence provider, the European market for silicone rubber was valued at US$ 1.52 billion in 2021.

Silicone rubber is gaining popularity among businesses across a wide range of industries, owing to its many benefits, including its versatility and capacity to improve performance in a variety of final products while driving creativity.

Electric car adoption has increased dramatically in recent years. Furthermore, people all across the world are gravitating toward safer autonomous automobiles. These reasons are causing the silicone rubber sector to become profitable.

The extremely competitive nature of the Europe silicone rubber market forces businesses to develop highperformance goods in order to acquire a competitive advantage over their competitors. Silicone rubber manufacturers are exploring expansion options in Germany, which is predicted to command the greatest revenue share of all European countries. Silicon elastomer demand is fueled by the automobile and transportation industries.

Due to the European Union's (EU) new rules and regulations, manufacturers have been forced to employ efficient and low-emission materials in end-use sectors. R&D efforts in two-part polymers development are helping to drive market growth.

Silicone rubber is utilized by hundreds of firms due to its adaptability and capacity to increase performance in a wide range of end products while supporting jobs and driving innovation, according to the European Center for Silicones.

Thus, the silicone rubber market in Europe is expected to register a CAGR of 5.5% from 2022 to 2031.

Which Key Aspects are Driving Silicone Rubber Sales in Europe?

"Research & Development of Self-healing Silicone Rubber and Increase in Residential Development Activities"

Through the process of heat initiated reversible bonding, scientists have proved the self-healing ability of silicone elastomer. This is feasible thanks to a mechanism known as siloxane equilibration, which was identified in 1950. It is used to mold various desired forms and designs for many applications because of its ability. A peroxide cure system could be used in a variety of advanced applications.

Silicone rubber products have long been used in the building industry. Mold rubber is used in the construction of buildings in concrete slabs and decks, as well as numerous interior components such as doors and baseboards. As a result, the size of the construction industry is a key factor in the silicone rubber market growth in Europe.

Polyester resin demand is projected to rise over the coming years due to the increase in infrastructure and construction industries. The increasing disposable income of individuals, changing lifestyles, increased demand for single-family houses, and ease of financing have all contributed to a considerable increase in residential development. As a result, the Europe silicone rubber market is booming.

"Rapidly Growing Automotive & Construction Industry"

The increased demand from the industrial sector is likely to propel industry revenue in Europe. Manufacturers will benefit from technological developments and the adoption of higher-quality materials. Because of rising disposable income, expanding business, and career prospects, the construction industry has seen substantial expansion in the region.

Germany is the leading country in advanced automobile manufacturing. With rising awareness of environmental issues and climate variability, as well as the migration to electric vehicles in Europe, silicone rubber with sensors, vehicle safety devices and silicone adhesives are in high demand.

Expansion of the epoxy resin industry is boosting demand for silicon rubber. Furthermore, the large number of manufacturers present in European countries will contribute significantly to market growth. Demand will be driven by increased R&D in the development of innovative materials and technologies for the automotive industry.