Global Elastomers Market – Industry Analysis
Global Elastomers market was valued at US$ XX Bn in 2019, and is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Elastomers market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Elastomers market.
This market research analysis identifies the increasing demand for elastomers from automotive industry. This demand attributed to, its properties such as resistance to oil, grease, and ozone, impact strength, and good resilience. Elastomers are mainly used in interior designing of vehicles.
In addition, advancement in the thermoplastic elastomer (TPE) processing industry is considered as the opportunity for the growth of the Elastomers market. However, factors such as high price of raw materials and rising cost of production may hamper the growth of the market.
Based on the type, Natural rubber is projected to be the fastest growing segment because of the suitability of natural rubber in several applications. Natural rubber is mainly used in the automotive industry, especially in the manufacturing of tires. Natural rubber have some excellent properties such as high tensile strength, excellent adhesion to metals, and excellent abrasion and tear resistance. The thermoplastic polyurethane elastomer can use for better UV resistance, good mechanical performance, and reduced thickness with finish of a softer touch.
Based on the application, the automotive segment dominated the global elastomers market in in terms of value as well as volume, followed by the consumer goods and medical segments in 2017. The demand for elastomers in automotive industry is increasing, attribute to the growing demand for lightweight and high-performance plastics in automotive industry, which provides increased efficiency and design flexibility, are primarily responsible for the growth of the elastomers market. Thermoplastic Polyurethanes is the most majorly used elastomer in the automotive industry. Further, elastomer can manufactured in any color to match the vehicles color, it also provides better low temperature performance and high abrasion resistance.
Geographically, the Asia Pacific region dominated the global Elastomers market. This growth is mainly attributed to rising demand from various end use sectors such as electronics and electrical, industrial equipment and automotive among others. The Asia Pacific region is also projected to be the fastest growing market. Asia Pacific was followed by North America and Europe region.
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Global Elastomers Market, By Type
• Thermoset Elastomers
o Natural Rubber
o Synthetic Rubber
Butadiene (Polybutadiene) Elastomer
Silicone (Q) Elastomers
• Thermoplastic Plastic
o Styrene Block Copolymer
o Thermoplastic Polyurethane
o Thermoplastic Polyolefins
o Thermoplastic Vulcanizates
o Thermoplastic polyester Elastomers
o Polyether Block Amide
Global Elastomers Market, By Application
• Consumer Goods
Global Elastomers Market, By Region
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Elastomers Market
• BASF SE
• The Dow Chemical Compan
• JSR Corporation
• E. I. du Pont de Nemours and Company
• Lanxess AG
• Zeon Corporation
• Kuraray Co., Ltd.
• Covestro AG
• Nizhnekamskneftekhim PJSC
• Teknor Apex Company
• Huntsman International LLC
• LG Chem. Ltd.
• Arkema, Inc.
• PolyOne Corporation
• Zeon Corporation
• Celanese Corporation
• Wanhua Chemical Group Co. Ltd.
• Lanxess AG
• Stoockwell Elastomerics, Inc.
• Innovative Silicones
• Universal Rubber Mfg NV
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