According to a new market research report from IndustryARC, the global elastomers market size was around $71,017 million in 2018, and the demand is estimated to grow at a CAGR of 5.28% during the forecast period 2019-2025. This information is taken from an IndustryARC report titled, “Elastomers Market: By Type (Thermoplastic & Thermoset Elastomers); By Process (Extrusion, Injection Molding, Blow Molding, Compression Molding, Others); By End Use (Automotive, Aerospace, Appliance, Footwear, Photovoltaic, Electrical & Electronics, Others) & Geography – Forecast (2019-2025).”
Continues invention in chemistry and the polymer physics coupled with research and development are creating significant opportunities for the growth of eco-friendly polyurethane elastomers. The air-conditioner industry is one of the eye-catching arcades for the elastomers marketplace with the increasing use of heating, ventilation, and air-conditioning (HVAC) technology.
Global Elastomers Market – Segment Analysis:
The analyst of the report identifies that the automotive industry holds a major share in the elastomers market and is projected to grow with a CAGR of around 5.24% during the forecast period. The rise in demand for hybrid and electric vehicles are increasing the growth for thermoplastic elastomers, and increasing adoption of elastomers by automotive manufacturers to shoot up the demand for the coatings. TPEs are increasingly being used as a replacement for vulcanized rubber and flexible polyvinyl chloride (PVC) as it reduces vehicle weight, improves fuel efficiency, lowers carbon gas emissions, and achieves greater recyclability to provide environmental sustainability.
Based on the geographical elastomers market analysis, APAC held the largest share in 2018 at more than 59% of the overall demand. Due to the increasing automotive and manufacturing industries in countries such as China, India, and Thailand coupled with increasing adoption of soft-touch thermoplastic elastomers by consumer electronics industries in Japan, Taiwan, and South Korea, the region is anticipated to retain its dominance over the forecast period.
Global Elastomers Market – Competitive Landscape:
BASF SE, DowDupont, Covestro, Kuraray and Huntsman Corp., Zeon Corporation, Lanxess AG are some of the major companies considered in this research report.
BASF SE – It is the world’s leading chemical company which provides chemical products such as intermediates and monomers. Their solutions contribute to conserve resources, ensure nutrition, and improve quality of polymers. On November 17, 2018 – BASF and the R&D Development Center of Guangzhou Automobile Group Co. Ltd. (GAC) introduced three co-developed electric concept cars named 2US, 2U, and 2ALL. These cars are designed by GAC R&D center with advanced prototyping support from design fabrik along with the use of BASF’s innovative materials and solutions to enhance the driver’s comfort. BASF Ultramid is used in 2US to rotate 90 degrees horizontally in-and-out of the car cabin, to improve the driving comfort of the drivers. In 2017, BASF introduced a new material LS24 of Cellasto from microcellular polyurethane elastomers. Its lower dynamic stiffening performance has made it an ideal choice for top mounts, NVH (noise, vibration, and harshness) powertrain, and chassis applications.
DowDupont– On July 5, 2018, Mobike, the world’s largest bike-sharing company, launched a new e-bike by using tires. “The foamed integrated Dow’s INFUSE Olefin Block Copolymer (OBC) tire can reduce tire weight by 20-30%, a significant contributor to the overall weight reduction efforts.” With its superior weather-ability performance, the OBC tire can withstand a wide range of harsh climates and its good resilience brings better cushioning to enable a more enjoyable riding experience.
An elastomer is a synthetic polymer, its low cost and high-efficiency properties are adding value to the end products. The increasing use of TPEs in the automotive industry and commercial and residential sectors will attribute the growth of the elastomers market in the near future.
View Full Table of Contents of Elastomers Market :
Polyurethane Elastomers Market
Silicone Elastomers Market
What can you expect from the report?
The Elastomers Market is Prepared with the Main Agenda to Cover the following 20 points:
- Elastomers Market Size by Product Categories & Application
- Elastomers Market trends & Relevant Market Data
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End-user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Elastomers Market Demand Analysis (Revenue & Volume)
- Country-level Analysis
- Competitor Analysis
- Elastomers Market Shares Analysis
- Value Chain Analysis
- Elastomers Market Supply Chain Analysis
- Elastomers Market Strategic Analysis
- Elastomers Market Current & Future Market Landscape Analysis
- Elastomers Market Opportunity Analysis
- Elastomers Market Revenue and Volume Analysis
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