Market Trends of Europe, Middle-East and Africa (EMEA) Elastomers Industry
This section covers the major market trends shaping the EMEA Elastomers Market according to our research experts:
Increasing Application from the HVAC Industry
- Heating, ventilation, and air conditioning (HVAC) are important in the designing of large to medium industrial and office buildings, as well as skyscrapers and in marine environments, such as aquariums, where safe and healthy building conditions are regulated with respect to humidity and temperature, using fresh air from outdoors.
- Thermoplastic elastomers are used in a variety of HVAC application, as it can be extruded, injection molded, blow molded, or compression molded. The features that make it well suited for this application include flexibility in hot and cold temperature extremes, excellent long-term sealing performance, low volatile organic compounds (VOCs), along with a wide range of hardness to meet end use requirements.
- The major applications of elastomers in the HVAC industry include seals and gaskets, boots and bellows, couplers, air ducts and tee joints, connectors, drain tubing, shock mounts, and flexible hose.
- Increasing population and stringent regulations for energy efficiency drive the demand for HVAC systems, which, in turn, are expected to increase the consumption of elastomers in the manufacturing of new HVAC systems.
- With the technological enhancements in the sector leading to properties, such as large force generation with small temperature changes, the heat engines/pumps also have the potential to become a significant application sector for the elastomers market.
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Europe to Dominate the Market
- The European region dominated the EMEA market share. The construction growth trend in Germany is expected to continue, owing to the rising demand for real estate, increasing population, increased job security, and low borrowing costs.
- The rising demand for automobiles, owing to the increasing per capita income, coupled with technological advancements in the sector leading to the increased life of a vehicle, has resulted in the increasing demand for the replacement of spare parts.
- Moreover, with the growing use of microelectronic devices and reducing the size of electronics, the application of elastomers has been increasing in the electronics market, as it holds a high strength.
- The German electronic industry is Europe’s biggest, and the fifth largest worldwide. The electrical and electronics industry accounted for 11% of the total German industrial production and about 3% of the country’s gross domestic product (GDP).
- Owing to all these factors, the market for elastomers in the region is projected to increase in the coming years.
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