Europe Cellular Rubber Market
Market Overview and Dynamics
The Europe cellular rubber market is expected to grow from US$ 2,688.78 million in 2021 to US$ 3,491.72 million by 2028; it is estimated to grow at a CAGR of 3.8% from 2021 to 2028. Cold storage plays a significant role in maintaining the shelf-life of perishable and edible items and are extensively installed across diverse industrial sectors, such as food and beverages, pharmaceuticals, and chemicals. In recent years, an increase in investments in cold storage facilities have been witnessed, which is attributable to varied factors, such as a rise in online grocery sale, coupled with growing consumer preferences toward fresh and perishable goods, and surging demand for pharmaceutical products that require specialized storage facilities. Further, the COVID-19 pandemic has triggered the expansion of the industry by motivating the food and beverage and pharmaceutical producers to abandon just-in-time inventory models and incorporate the use of advanced cold storage in their current work operations. Several research studies have predicted an upswing in investments in cold storage facilities across the region. The rising focus toward advanced cold storage facilities would generate the need for advanced insulating materials, such as cellular rubber, as it is a good insulator, offers low thermal conductivity, and has good sealing properties. Over the forthcoming years, the Europe cellular rubber market is expected to emerge lucrative, owing to an increase in investment in cold storage facilities.
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Market Introduction
Germany, France, Italy, the UK, Russia, and the Rest of Europe are the leading countries of the Europe market for cellular rubber. Europe is home to many prominent automobile manufacturers. The European Union (EU) is one of the key producers of automobiles across the world, and the European automotive industry has the largest private investment in research and development. According to the European Automobile Manufacturers’ Association (ACEA), in 2020, the European Union sold 9.9 million new passenger cars. The EU commercial vehicle output grew by 2.6%, which reached 2.8 million units in 2018. The rise in the automotive industry in Europe is expected to have a positive impact on the cellular rubber market. The rising demand for cars across the region is majorly driven by the increase in the spending power of consumers, rising number of double-income families, expanding working class, and the rapid economic growth of the European nations. Cellular rubber is being increasingly used in the automotive industry, due to its sealing attributes and its noise reduction properties. Also, the EPDM cellular rubber bonds quickly with metal and provides a strong barrier against weather as well as the environment, road surface, and vibration. Various application of cellular rubber and growing demand from automotive industry are the major factor driving the growth of the Europe cellular rubber market.
In case of COVID-19, Europe is highly affected specially France. The lockdown restrictions are being slowly lifted in some of the countries in Europe. All these factors are likely to have a positive impact on the chemicals and materials industry, which will translate in the recovery of the cellular rubber market. Europe has one of the advanced automotive, cold storage, and healthcare industries in the world. The demand for cellular rubber is expected to increase in the region as the economies are recovering and vaccination drives are being adopted. The market for cellular rubber has been impacted due to ineffective supply of raw materials such as polyethylene, polypropylene along with a significant impact upon the production processes. Additionally, hike in crude oil prices have led to the fluctuation in raw material prices of cellular rubber, creating challenges in the market growth. However, the market has also witnessed significant investment and growth due to the rapidly growing end use industries such as automotive, construction, HVAC, and consumer goods. With the state of economic recovery, several industrial sectors are strategically planning to invest in advanced and bio-based cellular rubber with the rising need for environment friendly products across the application industries. This is expected to provide an impetus to market growth. The automotive industry has been witnessing declining sales of passenger cars. However, the industry has started to gain momentum and is expected to witness significant growth during the upcoming years with the increasing sale of electric vehicles.
Europe Cellular Rubber Strategic Insights
Strategic insights for the Europe Cellular Rubber provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
key company profiles
ERIKS
Kautschuk- und Kunststoffteile GmbH
NDS-Seals
Oskar Pahlke GmbH
PANA Foamtec GmbH
Polymax Ltd
Ridderflex
Rogers Corporation
SEDO Chemicals Neoprene GmbH
W. KÖPP GmbH & Co. KG
Europe Cellular Rubber Regional Insights
The geographic scope of the Europe Cellular Rubber refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Key Market Segments
In terms of product type, the sheets segment accounted for the largest share of the Europe cellular rubber market in 2020. In terms of material, the EPDM segment held a larger market share of the Europe cellular rubber market in 2020. Further, the automotive segment held a larger share of the Europe cellular rubber market based on end user in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe cellular rubber market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ERIKS, Kautschuk- und Kunststoffteile GmbH, NDS-Seals, Oskar Pahlke GmbH, PANA Foamtec GmbH, Polymax Ltd, Ridderflex, Rogers Corporation, SEDO Chemicals Neoprene GmbH, and W. KÖPP GmbH & Co. KG among others.
Reasons to buy report
- To understand the Europe cellular rubber market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe cellular rubber market
- Efficiently plan M&A and partnership deals in Europe cellular rubber market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe cellular rubber market
- Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.
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Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights
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