European silicone rubber market to reach $1.2 billion by the end of 2022

New York, NY – Europe silicone rubber market size is expected to reach a valuation of US$ 1.6 Bn by the end of 2022. Growth in the market is attributed to the rising application of liquid silicone rubber in healthcare, construction, and automotive industries according to FactMR.

Application of silicone rubber in automotive industry as tire additives, foam padding, and engine gaskets will drive the demand in the market. Hence, key companies in the silicone rubber market are developing advanced silicone rubber for improved efficiency.

As liquid silicone rubber has chemical stability, resistance, and low viscosity, use of this rubber is increasing across construction and automotive industries. Application of liquid silicone rubber in automobile, marine vessel, and railway are bolstering the growth in the market.

As per Fact.MR, Germany and France is expected to lead the Europe silicone rubber market over the forecast period of 2022 and 2031. Expansion of automotive and construction industries in Germany and France are propelling the growth in Europe silicone rubber market.