Increasing demand for rubber in automotive & transportation industry is expected to drive growth of Europe rubber market
According to TechSci Research report, “Europe Rubber Market By Type (Natural Rubber v/s Synthetic Rubber), By Molecule (Styrene Butadiene, Polybutadiene, Butyl, Ethylene Propylene, Nitrile Elastomers, Natural Rubber, Poly cis isoprene), By Application (Tire, Medical, Industrial Hose, Footwear, Conveyor Belts, Others), By Country, Forecast & Opportunities, 2025”, the Europe rubber market is expected to grow at a steady rate during the forecast period on account of the increasing demand across various end user industries for manufacturing and production of different products and equipment. Additionally, increasing sales and production of automobiles in the region is further expected to increase the demand for rubber during the forecast period. However, volatility in the prices of raw materials, especially the oil prices might hamper the market growth through 2025. Besides, environmental concerns pertaining to the increase in air pollutions due to the emission of chemicals such as toluene, methanol, hexane, styrene, among others, is further expected to restrict the market growth over the next few years. Furthermore, the sudden outbreak and spread of pandemic COVID-19 across the globe with European region being adversely impacted by the virus might further impede the market growth. The lockdown and shutdown of economic activities has led to a demand-supply gap. Also, the automotive industry which creates the highest demand for rubber is worse hit during the pandemic. All these factors are expected to slow down the market growth during the forecast period.
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The Europe rubber market is segmented based on type, molecule, application, company and country. Based on type, the market can be split into natural rubber and synthetic rubber. Among these, the synthetic rubber segment is expected to dominate the market on account of its widespread use in various end user industries including automotive & transportation, electrical & electronics, packaging, construction, among others. Based on application, the market can be categorized into tire, medical, industrial hose, footwear, conveyor belts and others. Here, the footwear segment is expected to witness the highest growth in the market through 2025. This can be ascribed to the use of rubber in footwears for providing protection against low temperature, chemicals, water, among others.
Versalis S.p.A. (Polymeri Europa), Lanxess AG, Dynasol Elastomers SA, Sibur International GmbH, Omsk Kauchak OAO, Styron Asia Ltd., Synthos SA, Michelin Corp., Trinseo SA, Exxon Mobil Chemical Company and others are some of the leading players operating in Europe rubber market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, in June 2018, Lanxess AG launched a wide range of additives required for rubber processing. These products offer unique methods and solutions which help in reducing the associated health risks and increase the production.
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“Europe rubber market is expected to witness significant growth during the forecast period, owing to the growing automotive industry in the region. Also, increasing demand for rubber across different end user industries such as packaging, electronics, healthcare, consumer goods, among others, on account of its versatility, superior resistance and abrasion is further expected to fuel the market growth through 2025. Also, the presence of key players operating in the market in the region such as Lanxess AG, Exxon Mobil Chemical Company, among others is expected to create lucrative opportunities for the market growth over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Europe Rubber Market By Type (Natural Rubber v/s Synthetic Rubber), By Molecule (Styrene Butadiene, Polybutadiene, Butyl, Ethylene Propylene, Nitrile Elastomers, Natural Rubber, Poly cis isoprene), By Application (Tire, Medical, Industrial Hose, Footwear, Conveyor Belts, Others), By Country, Forecast & Opportunities, 2025”, has evaluated the future growth potential of Europe rubber market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe rubber market.
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