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Market Overview:
The Elastomers Market size is estimated to reach $102 Billion by 2030, growing at a CAGR of 5.9% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Elastomers Market – By Elastomer Type (Thermoset Elastomers (Natural Rubber (NR) and Synthetic Rubber (SR)), Thermoplastic Elastomers (TPEs) (Styrenic Block Copolymers (SBC), Vulcanized Thermoplastic Elastomer (TPV), Copolyester Thermoplastic Elastomers (COPEs), Thermoplastic Polyamides (COPA-Copolyamides), Thermoplastic Olefins (TPE-O), Thermoplastic Polyurethane Elastomers (TPU), Thermoplastic PVC Elastomers and others)), By End User (Automotive, Medical, Industrial, Construction, Consumer Electronics, Consumer Goods and others), By Geography - Opportunity Analysis & Industry Forecast, 2024-2030”.
Elastomers Market: Key Takeaways
Asia-Pacific region held the largest share:
Geographically, in the Elastomers Market, APAC is analyzed to grow with the highest CAGR the forecast period 2024-2030. This dominance is primarily driven by the rapid growth of the automotive and construction industries in countries like China, India, and Southeast Asia. The increasing demand for automobiles, especially in emerging economies, has fueled the need for high-performance elastomers for tire manufacturing and other automotive components. Additionally, the burgeoning construction sector in the region is driving demand for elastomers used in sealants, adhesives, and construction materials. Government initiatives to promote infrastructure development and industrialization further contribute to the growth of the elastomers market in the Asia-Pacific region.
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Scope of the Report:
Recent Developments:
• Materials manufacturer Covestro today broke ground on two new plants in Shanghai to meet the rising demand for polyurethane dispersions (PUDs) and elastomers. The new facility for polyurethane elastomers, which are widely used in industries ranging from offshore wind to solar energy as well as material handling, is expected to become operational already in 2023.
• In February 2022, Celanese has agreed to acquire the majority of DuPont's Mobility and Materials unit for USD 11 billion, combining two of the world's leading engineering polymer businesses. Celanese will also acquire DuPont's long-chain and performance nylons, as well as polybutylene and polyethylene terephthalates. The deal also includes DuPont's polyester and ethylene acrylic elastomers, as well as its Mylar and Melinex Polyster films.
Elastomers Market: Competitive Landscape
Key companies profiled in the Elastomers Market are:
1. BASF SE
2. JSR Corporation
3. Lanxess AG
4. Covestro AG
5. PJSC Nizhnekamskneftekhim
6. E.I. DuPont De Nemours and Company
7. DoW Chemical
8. Lanxess AG
9. Kuraray Co., Ltd.
10. ExxonMobil Corp.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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