The Europe Silicone Elastomer Market would witness market growth of 6.5% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 1,217.70 hundred tonnes, showcasing a growth of 22.1% (2020-2023).
High Temperature Vulcanized Silicone Elastomer is a specialized material renowned for its exceptional heat resistance and versatility in various applications. This elastomer undergoes a vulcanization process at high temperatures, which enhances its durability, flexibility, and thermal stability. Its unique molecular structure, based on silicone polymers, grants it superb resistance to extreme temperatures, ranging from -50°C to over 200°C, making it ideal for use in demanding environments where other materials may fail. Therefore, the Germany market consumed 125.99 hundred tonnes of High Temperature Vulcanized Silicone Elastomer in 2023.
The Germany market dominated the Europe Silicone Elastomer Market, by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $518.1 Million by 2031. The UK market is exhibiting a CAGR of 5.5% during (2024 - 2031). Additionally, The France market would experience a CAGR of 7.3% during (2024 - 2031).
The electronics and electrical industry harnesses the unique properties of these elastomers for applications such as insulation, encapsulation, and potting of electronic components. These elastomers offer excellent electrical insulation properties, thermal stability, and moisture resistance, protecting sensitive electronics from environmental factors and ensuring long-term reliability in various electronic devices and systems.
Additionally, the electronics and electrical industry continues to drive innovation and advancements in this elastomer technology, focusing on enhancing performance, reliability, and functionality. Researchers and manufacturers are developing next-generation elastomers with improved electrical, thermal, and mechanical properties to meet the evolving demands of electronic applications.
According to the Eurostat data, Germany had the highest level of current healthcare expenditure among the EU Member States, valued at €432 billion in 2020. Following Italy ($160 billion) and Spain ($120 billion) in terms of current healthcare spending was France ($281 billion). More than any other EU Member State, current healthcare spending in Germany and France was comparable to 12.8% and 12.2% of GDP, respectively. The ratios in Austria (11.5%), Sweden (11.4%), the Netherlands (11.1%), and Belgium (11.1%) were the following highest. Spain, Portugal, and Denmark were the only EU Member States to record double-digit ratios. Luxembourg and Denmark incurred the greatest current healthcare expenditures among EU Member States in 2020, in euro terms and relation to population size (€5, 875 per inhabitant and €5, 642). Hence, the rising healthcare sector in Europe will help in the expansion of the regional healthcare sector.
Free Valuable Insights: The Global Silicone Elastomer Market will Hit USD 11.2 Billion by 2031, at a CAGR of 6.8%
Based on Product Type, the market is segmented into Liquid Silicone Rubber, High Temperature Vulcanized, and Room Temperature Vulcanized. Based on End-Use, the market is segmented into Construction, Automotive, Apparel, Home Repair & Hardware, Healthcare, Medical Devices, Electronics, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Product Type (Volume, Hundred Tonnes, USD Billion, 2020-31)
By End-Use (Volume, Hundred Tonnes, USD Billion, 2020-31)
By Country (Volume, Hundred Tonnes, USD Billion, 2020-31)
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