Sales Revenue Of Europe Silicone Rubber Market To Surge During Forecast Period Owing To Rapid Adoption Across Key Industries : Fact.MR

The Europe silicone rubber market is projected to increase from a valuation of US$ 1.52 billion in 2021 to US$ 2.6 billion by 2031, expanding at a CAGR of 5.5%. Over the coming years, demand for liquid silicone rubber is predicted to rise at a faster rate, especially being used in 3D printing technology. 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.

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Key Segments Covered in Europe Silicone Rubber Industry Research

  • Europe Silicone Rubber Market by Type :

    • Liquid Silicone Rubber
    • High Temperature Vulcanized Rubber
    • Room Temperature Vulcanized Rubber
    • Fluorosilicone Rubber
  • Europe Silicone Rubber Market by Application :

    • Gaskets & Seals
    • Adhesives & Sealants
    • Coatings
    • Encapsulants
    • Catheters & Tubing
    • Others
  • Europe Silicone Rubber Market by End-use Industry :

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

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Competitive Landscape

Silicone rubber providers in Europe are concentrating on expanding their presence to boost their market position and promote market growth. As a result, key players have established strong regional presences, distribution networks, and product offers.

Leading companies in the rubber sheets market are prioritizing R&D to bring to market unique, high-quality goods with expanded features. To improve their commercial prospects, several organizations are considering strategic collaborations, mergers, and acquisitions. To satisfy expanding market demand, market participants are likely to enhance existing production capabilities.

COVID-19 Impact on Sales of Silicone Rubber in Europe

The COVID-19 pandemic caused extensive damage to the supply and demand for raw materials and finished products. The industrial rubber market was disrupted due to changes in raw material supply patterns, logistics and shipping rules, and a lack of workforce. Because end-use industries’ manufacturing activities were halted as a result of COVID-19, silicone rubber sales in Europe decreased.

However, silicone rubber suppliers are focusing on local production capabilities to avoid dependence on other countries for raw materials and other things. Such developments are expected to re-energize the silicone rubber business in Europe. To build steady revenue streams, manufacturers are focused on major industries including construction, medical, and consumer goods

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What Challenges are Restraining Demand Growth of Silicone Rubber in Europe?

There are a variety of cost-effective and long-lasting options on the market. The availability of cost-effective alternatives such as ethylene propylene diene monomer (EPDM) rubber, which has qualities such as durability and resilience to ageing, natural wear, and heat, is projected to impede market expansion.

The market faces significant obstacles from strict and time-consuming regulatory policies. In the anticipated years, changes in the prices of raw materials for silicone rubber production are expected to stymie industry expansion.

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