Europe Silicone Rubber Market: Introduction
Transparency Market Research delivers key insights on the Europe silicone rubber market. In terms of revenue, the Europe silicone rubber market is estimated to expand at a CAGR of 5.52% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the Europe silicone rubber market.
The Europe silicone rubber market is broadly affected by several factors, including usage of silicone rubber in the building & construction industry. Rise in demand for silicone rubber in construction, semiconductor, and solar industries is propelling the Europe silicone rubber market.
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Europe Silicone Rubber Market: Dynamics
Rise in demand for gasket & seals, adhesives & sealants, and coatings made from silicone rubber is expected to the drive the Europe silicone rubber market in the near future. Residential and commercial construction is a major contributor to the market size of silicone rubber. Residential construction has been increasing significantly for the past few years, owing to rising disposable income of consumers, changing lifestyle, increasing demand for single-family homes, and easy financing.
The expansion of the building & construction industry is driving the demand for silicone rubber. It can be used to bind together important building materials, such as concrete, plastics, glass, metal, and granite. Silicone rubber offers a wide range of flexible options, from precise silicone profiles to large portions that may be applied to glass, steel, and plastics.
In terms of type, the high temperature vulcanized segment is estimated to expand at a significant pace during the forecast period. The expansion of the segment can be attributed to an increase in the demand for high temperature vulcanized silicone rubber in the building & construction sector in Europe.
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Europe Silicone Rubber Market: Prominent Regions
Based on region, the silicone rubber market in Europe has been segmented into Germany, U.K., France, Italy, and Russia & CIS. Germany dominated the silicone rubber market in Europe in 2020. The region is expected to maintain its dominance during the forecast period. The demand for silicone rubber in the transportation and automobile sectors is driving the silicone rubber market in the region. Manufacturers have been compelled to use efficient and low-emission materials in end-use industries due to European Union’s new rules and regulations. Furthermore, advanced research and development on liquid silicone rubber is estimated to significant boost the market in Germany, the U.K., and Italy. The European Center for Silicones (CES) concluded that silicone rubber is used by thousands of companies, due of its versatility and ability to improve performance, supporting jobs, stimulating innovation, and creating wealth through a diverse range of final products. Automobiles, window glazing, medical equipment, surfactants, and computers are all examples of applications. Major end-use industries in Europe are expected to augment the silicone rubber market in the regions during the forecast period.
Construction and electrical & electronic products are highly valuable end markets. Rise in demand for silicone rubber in various end-use industries is also likely to boost the silicone rubber market over the next few years.
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Europe Silicone Rubber Market: Key Players
The Europe silicone rubber market is fragmented, owing to the presence of a large number of players. Key players operating in the Europe silicone rubber market are KCC Corporation, Momentive Performance Materials, Zhejiang Xinan Chemical Industrial Group, Dow Inc., Wacker Chemie AG, Simtec Silicone Parts, Adopol, Elkem Silicones, MESGO S.p.A., Shin-Etsu Chemical Co, Reiss Manufacturing, Inc., Shenzhen Inno Silica Co., Ltd., Stockwell Elastomerics, Inc., Zhongshan Tinhou Plastic Industrial Co., Ltd, and Innovative Silicones.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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