Trusted Business Insights presents the Latest Study on Elastomers Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Elastomers Market
The global elastomers market size was valued at USD 75.56 billion in 2017 and is projected to expand at a CAGR of 4.8% from 2018 to 2025. Elastomers are elastic polymers, which are lightly cross-linked and are amorphous along with glass transition temperature. They can be classified as thermoplastic, diene and non-diene. Thermoplastic Elastomers (TPEs) including SBS and SIS block copolymers contain rigid and soft repeat units. Elastomeric parts are produced through three major production techniques, which include injection molding, compression molding, and transfer molding.
Rising demand from key application areas coupled with advancements in the processing technologies is likely to propel the market growth during the forecast period. Elastomers are witnessing high demand from the automotive industry on account of rising need for high-performance and lightweight materials in vehicle production. Key properties, such as high durability, strength, and pliability, allow it an ideal material in a variety of applications in the automotive sector.
The product is used in the manufacturing of puncture-resistant seals, protection of wires and cables, and for better impact-resistance in vehicle interiors. This factor is also likely to drive the overall market throughout the forecast years. Growing population and per capita income levels in Asia Pacific are boosting the automobile sector, which, in turn, will have a positive impact on the market.
Moreover, availability of cheap labor and other resources in Asia Pacific region is supplementing the growth of automotive manufacturing. This is also expected to contribute significantly towards the product demand. The region is witnessing heavy investments from key automotive companies, such as BMW AG, Fiat Automobiles S.p.A, Ford Motor Company, Mazda Motor Corporation, Nissan Motor Company Ltd., and Jaguar Cars Ltd., which will drive the industry further augmenting the product demand.
Market Segmentation, Outlook & Viewpoint: Global Elastomers Market
Type Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Application Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Key Players, Recent Developments & Regional Insights: Global Elastomers Market
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Automotive was the largest application segment in 2017. Elastomers witness high demand in the automotive segment. Rapidly expanding global automobile industry coupled with stringent regulations regarding toxic emissions is creating lucrative growth opportunities for the global elastomers market. Key Tier 1 component suppliers, as well as constructors, are using elastomers for downsizing their product weight and size. Moreover, rising need to reduce carbon emissions as well as fuel consumptions is anticipated to boost the product demand further.
Medical is expected to be the fastest-growing application segment during the forecast period. Wide usage of TPEs in the medical application segment, such as in medical gaskets and stoppers, due to their high insulation and molding properties than thermosets will drive the segment. Moreover, TPEs are moldable to fill all sorts of gaps and are highly flexibility, which has created a larger demand for these products as substitutes for previously popular thermosets.
Thermosets was estimated as the largest product type segment and accounted for a revenue share of 70% in 2017. The segment is anticipated to maintain its dominance over the forecast period on account of diverse applications of thermosets across several industries. They are cost-effective materials that offer excellent aesthetic appearance and aid in improving the mechanical properties of materials by enhancing the structural integrity as well as heat and chemical resistance. They are also used in the manufacturing of sealed products owing to their resistance to deformation.
Thermoplastic elastomers are rubber-like compounds that offer superior electrical properties coupled with excellent toughness, flexibility, and surface aesthetics. These compounds have thermal stability and perform exceptionally even under extremely low temperatures. Furthermore, TPEs withstand tear and abrasion and have great tensile properties. The products do not require any pre-dying and are free of PVCs and phthalate esters. They are also costlier than thermosets.
The Asia Pacific was the largest revenue-generating region in 2017.The market in this region is anticipated to expand further during the forecast period owing to growing automotive production in China, Thailand, India, and Indonesia. Moreover, rapid industrialization and urbanization in these countries is driving the construction and manufacturing industries. This, in turn, is contributing to the global market development.
Major automotive OEMs are shifting their production bases to these markets due to low operational costs and escalating demand for passenger cars. This factor is expected to drive the product demand over the coming years. North America was the second-largest revenue-generating regional market in 2017. Easy adaptability and cost-efficiency are anticipated to drive the regional market over the forecast period.
Elastomers Market Share Insights
Key companies in the global market include LG Chem. Ltd.; Arkema, Inc.; PolyOne Corporation; Covestro AG; E. I. du Pont de Nemours and Company; The Dow Chemical Company; and Huntsman International LLC.The industry participants are undergoing extensive research & development activities to develop newer blends and effective processing methodologies to gain competitive strength. In August 2018, Trelleborg Sealing Solutions launched a new custom elastomer, designed especially for HTHP wellhead tubing and hanger sealing applications.
Key Insights Covered: Global Elastomers Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Elastomers industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Elastomers industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Elastomers industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Elastomers industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Elastomers industry.
Research Methodology: Global Elastomers Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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