The European synthetic rubber market is forecast to augment with significant market growth during the forecast period. Various application of synthetic rubber in the region is one of the major factors for the growth of the market. The region is one of the major producers of vehicles, which creates the demand for synthetic rubber as the demand for synthetic rubber is majorly dependent on the automobile industry which is the chief purchaser of tires. As per the International Organization of Motor Vehicle Manufacturers, in Europe, around 21.33 million vehicles were manufactured in 2018. Out of this, around 18.7 million were passenger cars and rest were commercial vehicles. A considerable demand from the aftermarket is also generated from the region.
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The European synthetic rubber market is segmented on the basis of type and end-user. By type, the market is further segmented into Styrene Butadiene Rubber, Polybutadiene Rubber, Ethylene Propylene Rubber, Isoprene Rubber, and others. Styrene-Butadiene Rubber is expected to hold the largest market share during the forecast period. By end-user, the market is further segmented into automobile components, industrial application, footwear, household, and others. Automobile components are expected to hold a major market share during the forecast period. Moreover, the market is also studied Gon the basis of geography. The market is divided into Germany, UK, France, Spain and Italy. Germany is expected to be a major market for synthetic rubber as the country is a major manufacturer of automobile and its parts. Apart from Germany; UK and France are also expected to have a considerable market share in the region.
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European Synthetic Rubber Market Segmentation
By Type
- Styrene-Butadiene Rubber (SBR)
- Polybutadiene Rubber (BR)
- Ethylene Propylene Rubber (EPDM)
- Isoprene Rubber (IR)
- Others (Nitrile Butadiene Rubber (NBR), Butyl Rubber (IIR), Chloroprene Rubber (CR))
By End-User
- Automobile Component
- Industrial Application
- Footwear
- Household
- Others (Electronics, Aerospace)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
