The Europe Polyolefin Elastomers Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 64.46 Kilo Tonnes, showcasing a growth of 5.8% (2019-2022).
The electrical and telecommunications industries utilize POEsfor wire and cable insulation. POEs offer excellent electrical properties, insulation performance, and flame retardancy, making them suitable for diverse applications in the wiring and cabling sector. POEs serve as key ingredients in the formulation of adhesives and sealants. Their adhesive properties, flexibility, and resistance to environmental factors make them valuable components in bonding and sealing applications across industries.
Furthermore, in the footwear industry, POEs produce shoe soles and components. Their elasticity, comfort, and durability contribute to the performance and longevity of footwear products. The comfort of footwear is a critical factor for consumers, and POEs play a crucial role in enhancing this aspect. These elastomers' soft and pliable nature ensures a comfortable and cushioned feel, reducing the impact on the wearer's feet and contributing to a pleasant wearing experience.
Italy's automotive industry encompasses not only automobile production but also a wide range of related sectors, including automotive components and materials. As per the data from the report titled The Automotive Industry in Germany, published in 2023 by the Germany Trade and Invest, Germany is the largest automotive industry in Europe, ranking first in production and sales. It accounts for about 20 percent of all new registrations and approximately 25 percent of all passenger cars manufactured. In 2021, German automakers manufactured more than 15.6 million vehicles. Germany is the leading producer of automobiles in Europe, accounting for 351,000 commercial vehicles and over 3.1 million passenger cars assembled in German facilities in 2021. Thus, the growing automotive sector in Europe will boost the demand for POEs in the region.
The Germany market dominated the Europe Polyolefin Elastomers Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $72.5 million by 2030. The UK market is exhibiting a CAGR of 6.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 8.2% during (2023 - 2030).
Free Valuable Insights: The Global Polyolefin Elastomers Market will Hit $2.2 Billion by 2030, at a CAGR of 7.7%
Based on Type, the market is segmented into Polyethylene (PE), and Polypropylene (PP). Based on Manufacturing Methods, the market is segmented into Injection Molding, and Extrusion Molding. Based on Application, the market is segmented into Vehicles (Interior/Exterior), Wires & Cables, Films & Sheets, Roofing & Flooring, Syringe, and Others. Based on End-use, the market is segmented into Automotive, Building & Construction, Electrical & Electronics, Medical, Packaging, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Manufacturing Methods (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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