Elastomers Market Trends, Overview, Report Analysis, Growth Insights and Future Forecast to 2027
Market Synopsis
According to the MRFR analysis, the Global Elastomers
Market trends is expected to reach over ~USD 107.1 Billion by the end
of 2025 at a CAGR of ~4.8%.
Elastomers are amorphous polymers exhibiting characteristics of
rubber in terms of flexibility and elasticity. Various elastomeric products on
the account of their high abrasion and heat resistance are used in numerous
industrial applications. For instance, TPUs offer excellent mechanical strength
and low creep thus are used to manufacture conveyor belts. The rising demand
for high-performance elastomers in the automotive and medical industries are
the key factors favoring the growth of the elastomers market.
Pricing and Regulatory Analysis
In 2018, the price of elastomers increased from USD 0.19 to
USD 0.40 between 2016 and 2018 and is likely to observe a
gradual upsurge during the forecast period owing to fluctuating raw material
and crude oil prices.
The stringent standards for Elastomer Market Trends may
favor the demand for elastomers during the review period. Some of the standards
are American Society for Testing and Materials - ASTM D412, ASTM
D624, ASTM D3182 ”and International Standard - ISO 34-1:2015.
SEGMENTATION
By Type
- Thermoset
Elastomers: These polymers belong to the group of elastomers
that cannot be molded once they have been cured. Thus, on
the account of their structural integrity thermoset elastomers are
widely used in high-temperature applications.
- Synthetic
Rubber: The segment held the largest market share in 2018 on
account of its excellent strength and flexibility. These
elastomers are artificially synthesized and derived from
petroleum-based monomers.
- Styrene-Butadiene
Rubber (SBR): On account of its good abrasion and
elasticity, it is widely used in pneumatic tires. SBR on
reinforcement exhibits higher strength and durability.
- Isobutylene-Isoprene
Rubber (IIR): Owing to its low gas permeability and high
resistance finds applications in inner tires of cars,
bicycles and other high-pressure tubes.
- Nitrile
rubber (NBR): It is used in the applications that demand oil
and heat resistance. Modified nitrile rubber such as
carboxylated nitrile rubbers (XNBR) and hydrogenated nitrile
rubbers (HNBR) exhibit high tensile strength and weather resistance.
- Polybutadiene
(PBR): It is extensively used in various parts of automobile
tires including sidewall of truck tires and heavy vehicles
for abrasion resistance.
- Others:
The segment includes acrylic rubber (ACM) and
ethylene-propylene rubber (EPM), among others.
- Natural
Rubber: It is a bio-based elastomer obtained from the rubber
trees. It is commonly known as Natural Rubber Latex (NBL)
and find wide applications in friction tapes, cement, and
adhesives. However, the natural rubber is usually vulcanized to enhance
the chemical properties.
- Thermoplastic
Elastomers: It is projected to be the fastest-growing
segment during the forecast period due to significant
advantages over conventional thermosetting elastomers. These elastomers
are recyclable and are capable of being remolded.
- Thermoplastic
Polyurethane (TPU): On account of excellent flexibility over
a wide temperature range and high abrasion resistance, it is
extensively used in a foray of industrial applications such
as seals and gaskets, sealants, andconveyor belts.
- Thermoplastic
Styrenic elastomers (TPS): They are styrene block copolymers
with excellent flexibility and elasticity and commonly used
in footwear, belts, and adhesives.
- Others:
The segment includes thermoplastics polyester-ether
elastomer (TPE-E) and thermoplastic polyamide elastomers
(TPE-A), among others.
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By End-Use Industry
- Automotive:
The automotive segment accounted for more than 62% market
share in 2018. This is primarily due to the increased use of
elastomers in various applications such as airbags, tires, gaskets,
bumpers, and HVAC systems. In the automotive industry, the demand
for elastomers in interior applications is expected to
increase at a significant rate during the forecast period.
- Medical:
It is projected to be the fastest-growing segment during the
review period. The increasing use of elastomers on account
of hydrolytic stability and ease of sterilization in variety of
applications such as peristaltic pump catheters, needleless
syringes, and valves is fueling the demand for elastomers in
the medical industry. Additionally, the rising innovations
to develop bio-based elastomers offers a wide range of
opportunities to produce artificially synthesized
biocompatible organs.
- Electronics:
A variety of elastomers exhibit low electrical conductivity
and thus are suitable for insulation purposes. For instance,
ethylene-propylene rubber is used to insulate indoor and outdoor
high voltage cables.
- Textiles:
Elastomeric fabrics on the account of their lightweight and
stretchability are used in a variety of garments including
cycling shorts, swimsuits, and athletic wear.
- Others:
The segment includes aerospace & defense, oil & gas,
and construction.
By Region
- Asia-Pacific:
The regional market held a dominant share in 2018 and is
expected to maintain its dominance during the review period.
The increasing disposable income coupled with expanding automotive
and textile industries in the region are fueling the regional
market growth.
- North
America: The market growth is driven by the demand for
high-performance elastomers in the aerospace and medical
industries.
- Europe:
A firm market owing to the demand for elastomers in the
automotive industry. Additionally, the rising automobile
exports from the region is aiding market growth.
- Latin
America: The growing healthcare and electronics industries
is driving the demand for elastomers in Latin America.
- Middle
East & Africa: The expanding automotive industry and
rising constructional activities in the region are
contributing to the regional market growth.
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