Elastomers Market Size, Share & Industry Analysis, By Nature (Thermoset, Thermoplastic), By Type (General Purpose, Specialty Elastomers, Thermoplastic Elastomer), By Application (Automotive, Adhesives & coatings, Consumer Goods, Sports & leisure, Electrical & Electronics, Industrial, Others) Others and Regional Forecast, 2024-2032

Elastomers are polymers that have both elasticity & viscosity (viscoelastic) and have the weak intermolecular force of interactions between the molecules. Most of the elastomers are thermoset but thermoplastic elastomers are usually preferred for injecting molding application. Elastomers have glass transition temperatures below room temperature that gives them flexibility above transition temperatures (and so at room temperatures). Elastomers have strong demands in various end-use industries due to desired flexibility. Prominent applications of elastomers include seals, adhesives, molded flexible parts in automotive, etc.

Elastomers find a variety of applications in various end-use industries such as automotive, medical, packaging, consumer goods, etc. Their high applicability and ease of usage, make them widely used in various end-use industries. The demand for speciality elastomers is continuously increasing, especially for applications that include exposure to the harsh environment and prolong lifespan. Polymer modification is one of the trending applications of elastomers. Elastomers are prominently employed in applications requiring high-temperature resistance, weather ability, oil resistance, high pressure, exposure to ozone, etc.  

Key Market Driver -

Wide usability & adoption of elastomers in various end-use industries drives the market.

Key Market Restraint -

The volatility in the raw material prices restricts the elastomers market growth.

However, fluctuating raw materials prices affect the prices of elastomers. Elastomers are generally much expensive as compared to other plastics and polymeric materials. Also, the inability of elastomers to bear high load restricts its use. Also, elastomers are exposed to various rules & regulations that restrict the market growth.

Market Segmentation:

Based on elastomer nature, the market is segmented into Thermoset and Thermoplastic elastomer. Thermoset elastomers are segmented into Styrene-butadiene Rubber(SBR), Poly-butadiene rubber (BR), Polyisoprene (PIR), Natural rubber (SR), Synthetic Rubber(SR), Nitrile rubber (NBR), Butyl Rubber (IIR), Silicone Rubber, Fluorocarbon Elastomers, and Polyurethanes. Thermoplastic elastomers are further classified into Polyamide Elastomers, Polypropylene Elastomer, Olefin Elastomers (TPO), and others On the basis of type, the elastomers market is classified into General Purpose, specialty elastomers and thermoplastic elastomers. On the basis of applications, the market is segmented into Automotive, Adhesives & coatings, Consumer Goods, Sports & leisure, Electrical & Electronics, Industrial and Others.

From a geographical standpoint, the market is categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global Elastomers market is relatively fragmented with a number of global & regional players operating. Some of the prominent manufacturers in the global Elastomers include- DuPont de Nemours, Inc., BASF SE, Huntsman Corporation, Chemtura Corporation, Mitsui Chemicals, Inc., Asahi Kasei Corporation, Zeon Chemicals L.P., INEOS, LG Chem, Arkema, Wacker Chemie AG, ExxonMobil, JSR BST Elastomer Co., Ltd, LANXESS AG, and others.

Key Insights

• New Advancements in Production Technologies


• Key Trends in Elastomers market


• New Product Launches, Expansions, Key Players


• Regulatory Landscape

Regional Analysis:

The global Elastomers market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The Elastomers market is dominated by the Asia-Pacific region in terms of both consumption and production. China, Japan, India, South Korea are the major consumers of elastomers. Automotive industry drives the elastomers market in the region as well as on the global level. North America’s Elastomers market is predominantly driven by the US. Automotive, consumer goods, adhesives & coatings, etc. drives the elastomers market in the region.

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Elastomers market in Europe is prominently driven by western European countries such as Germany, France, UK, etc. However, Central & Eastern countries also account for considerable market shares. The demand in Latin America is majorly from the relatively developed countries such as Mexico & Brazil. Middle East & Africa are relatively small markets for elastomers. Most of the demand in the region is contributed by GCC countries in the Middle East and South Africa & Egypt in Africa.

Segmentation

Elastomers Industry Developments

• In June, 2019, Wacker Chemie AG, inaugurated its new production facility for silicone elastomers at its Zhangjiagang site in China. The company has reported the production capacity of new production line to be of several thousand metric tons.


• In May 2019, Exxon Mobil Corporation successfully completed the capacity expansion of its specialty elastomers at Newport, Wales plant in the US. The company has reported to double the production capacity of specialty elastomers with 25% increase in the capacity for thermoplastic elastomers.